Chinese Ambassador to Iceland Jin Zhijian attends the Signing Ceremony of Cooperation Project Between CRI and Henan Shuncheng Group

On May 21, Ambassador Jin Zhijian was invited to attend and deliver a speech on the Signing Ceremony on Technical License and Engineering Service Agreement between Carbon Recycling International (CRI) of Iceland and Henan Shuncheng Group of China(referred to as Shuncheng hereinafter).

In his speech, Ambassador Jin spoke highly of the cooperation in the field of clean and renewable energy and sent his congratulations. He pointed out that facing global climate change, China and Iceland need to strengthen cooperation. This project is of positive significance and and a good example in the areas such as reducing carbon emission, improving ecological environment, extending industrial chain and increasing added value of the industry. It is also the latest achievement of cooperation between the two countries. With the upgrading of China's economic transformation and the further implementation of green and sustainable development strategy, the cooperation between China and Iceland in the field of renewable energy will usher in new opportunities with broad prospects.

Mr. Wang Xinshun, Chairman of Shuncheng and Mr. Sindri Sindrason, CEO of CRI also delivered speeches respectively, thanking Ambassador Jin and the Embassy for their attention and support to the project, and expressed their full confidence in the development prospect of the project in China.

According to the briefing, the project is the first one for CRI to export technology and participate in investment in China. In accordance to the Agreement, the two sides will reuse the waste gas and carbon dioxide produced by Shuncheng's coking plant in Anyang City of Henan Province and convert it into green and low-carbon methanol energy through technology and engineering service cooperation. Based on the feasibility report, it is expected that 150,000 tons of carbon dioxide will be recycled each year, with 110,000 tons of methanol and 70,000 tons of LNG by-products produced. The project investment is estimated to be 600 million yuan.