Objective
Methanol, needed in industry as a chemical building block (plastics, solvents, additives) and as transportation fuel, has been traditionally produced from coal or natural gas, dependent on fossil fuels (limited supply), contaminating land (mining, drilling) and emitting CO2 to the atmosphere (global warming effect). Nowadays, crop-based biofuels are also used with the same purposes, but consume huge water and land resources for their production.
Carbon Recycling International (CRI), founded in 2006 in Iceland, produces renewable methanol (currently 4 kt/year in the George Olah plant) from industrial CO2 emissions and Renewable Energy Sources (RES), through a novel process of clean fuel production (Vulcanol®). This proprietary technology is called Emissions–to-Liquids (ETL) and is certified ISCC Plus by the International Sustainability and Carbon Certification system. While conventional production of methanol emits up to 4 t CO2/t methanol, our ETL plant fights global warming by consuming 1.4 t CO2/t of Vulcanol® produced and requires approximately 1500 times less land and up to 15,000 less water than crop based biofuel, eradicating ethical concerns about competition between biofuels and human food production. Vulcanol® is an efficient energy carrier that can be used to easily store and transport off-peak renewable energy, stabilizing the power grid and supporting expansion of RES. ETL helps to fulfil stricter EU regulations regarding the use of advanced renewable fuels and RES; improves air quality in industrial areas, thus, health of their population and employees and supports employment creation (25 skilled jobs per ETL plant). During this phase 2, CRI aims to a) scale up the technology and adapt ETL plants to economically operate with RES, b) to attract investment to build and operate ETL plants and c) to close distribution agreements for the produced Vulcanol®, which by 2024 will provide an annual profit of €95.4 million and an 8.2 years payback.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
- engineering and technology environmental engineering energy and fuels renewable energy
- engineering and technology environmental engineering energy and fuels fossil energy natural gas
- engineering and technology electrical engineering, electronic engineering, information engineering electrical engineering power engineering electric power transmission
- natural sciences chemical sciences organic chemistry alcohols
- engineering and technology industrial biotechnology biomaterials biofuels
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-2 - SME instrument phase 2
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
201 Kopavogur
Iceland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.