Emvolon and Montauk Renewables Announce Launch of Joint Venture to Convert Biogas into High-Value, Low Carbon Fuel
Following the successful completion of a field demonstration, the new joint venture seeks to develop projects to generate up to 50K metric tons of green methanol annually by 2030
Emvolon, an MIT spin-off that converts greenhouse gas emissions into carbon-negative fuels and chemicals, and Montauk Renewables, Inc. (NASDAQ:MNTK), a renewable energy company specializing in the management, recovery and conversion of biogas, today announced a joint venture to develop multiple biogas-to-green methanol projects. Following a successful field demonstration project, Emvolon and Montauk plan to deploy a portfolio of biogas-based sites with an aggregate annual production capacity of up to 50,000 metric tons of green methanol by 2030 and beginning with the Atascocita Humble Renewable Energy (HRE) facility in Humble, Texas.
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Using Emvolon's patented technology, the HRE site will convert a flared gas stream into low carbon methanol, generating up to 6,000 metric tons of green methanol annually. Additional projects are being discussed across Montauk's development pipeline. The joint effort between Emvolon and Montauk marks a significant expansion of biogas utilization beyond traditional renewable natural gas (RNG) and power applications, unlocking new pathways to decarbonize industrial sectors.
"Montauk continues to expand the horizon of the beneficial uses of biogas," said Sean McClain, President and CEO of Montauk. "The opportunity set for this partnership is truly exciting and extends beyond new undeveloped projects to include the waste streams from existing biogas facilities. The combination of Montauk's expertise in the capture and refinement of methane emissions with Emvolon's unique platform that converts biogas into scalable, low-carbon methanol not only helps shape the future of shipping, aviation and chemical manufacturing, it helps shape the economic viability of current and future biogas projects."
In April, the International Maritime Organization approved new net-zero regulations that will be mandatory for ships with more than 5,000 gross tonnage, which emit 85% of greenhouse gas emissions from international shipping. Demand for green methanol is surging as a result, with the global market expected to grow up to 14 million metric tons by 2030 according to the Methanol Institute. With the joint development venture, Emvolon and Montauk will monetize previously wasted methane emissions by converting these emissions into green methanol, without producing new greenhouse gas emissions, or relying on expensive pipeline infrastructure or government subsidies.
"Emvolon's technology platform repurposes car engines as cost-effective, modular chemical plants to convert the methane in biogas onsite into ready-to-use, easy-to-transport liquid green chemicals and fuels," said Dr. Emmanuel Kasseris, CEO of Emvolon. "Together with Montauk, we have the ability to not only eliminate flare emissions, but also transform those emissions into sustainable, revenue-generating resources that sectors critical to our global economy desperately need right now."
About Emvolon
Founded in 2021 and launched from MIT, Emvolon helps hard-to-abate industries such as agriculture, aviation, energy, maritime and waste management power the global economy without producing emissions. The company's patented technology converts greenhouse gas emissions into carbon-negative fuels and chemicals like green methanol and green ammonia onsite by repurposing mass-produced automotive engines as cost-effective, modular chemical plants. Learn more at emvolon.com or follow them on LinkedIn.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ:MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid ("Renewable Electricity"). The Company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience in the development, operation and management of landfill methane-fueled renewable energy projects. The Company has current operations at 13 operating projects and ongoing development projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina, and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use. For more information, visit https://ir.montaukrenewables.com.
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