During IPEC 2025, ElbOil signed a Memorandum of Understanding with Shandong Shunli Hydrogen Energy Technology Co., Ltd., part of Henan Shuncheng Group, and Shanghai Wenji Biotechnology Co. Ltd.
The partners plan to produce up to 1 million mt of green methanol per year from early 2027, using Carbon Recycling International’s CO₂-to-methanol technology. The process turns captured carbon dioxide into renewable methanol, helping to reduce emissions from shipping.
ElbOil said the project reflects a joint commitment to sustainability and innovation in marine fuels.
A site visit is planned for early 2026 as the partners move toward developing supply and distribution networks for the new fuel.
