MNTK - EE North America and Montauk Renewables Forge Groundbreaking Agreement for Biogenic Carbon Dioxide Delivery | Benzinga
AUSTIN, Texas, Feb. 14, 2024 (GLOBE NEWSWIRE) -- In a pivotal move towards sustainable energy solutions, EE North America ("EENA") and Montauk Renewables, Inc. ("Montauk") have signed a long-term contract for the delivery of 140,000 tons/year of biogenic carbon dioxide ("CO2") over a minimum 15-year term. Montauk will capture, clean and liquify CO2 at select Texas facilities, at which point it will be transported via truck to EENA's Texas-based e-methanol facility. There, the CO2, along with green hydrogen, will be synthesized to create e-methanol, a versatile substance with applications in shipping as e-fuel, as a raw material for sustainable green plastics, and blended in heavy transport.
This strategic partnership holds immense promise, preventing critical amounts of CO2 from entering the atmosphere. Montauk and EENA's innovative approach transforms what was once considered a waste product into a commercial feedstock, with sustainably sourced biogenic CO2 provided by Montauk. Simultaneously, it opens a new revenue stream for Montauk Renewables, illustrating the economic viability of environmentally conscious initiatives.
Lorena Ciciriello, CEO of EENA, echoed the sentiment, emphasizing the transformative potential of the partnership: "As we pioneer the clean energy transition, it's imperative to forge alliances that drive real change. Our collaboration with Montauk is more than a transaction; it's a shared commitment to a sustainable future. By harnessing our collective strengths and thinking creatively, we're positioning ourselves as leaders in the clean energy landscape."
Sean McClain, CEO of Montauk, underscored the far-reaching impact of the collaboration: "This agreement is illustrative of our commitment to environmental stewardship, leveraging our deep history of the collection and beneficial conversion of pollutants. This endeavor is more than revenue generation and ...