According to Deloitte’s Technology Fast 500 EMEA list, which ranks the fastest-growing technology companies in Europe, the Middle East and Africa, Carbon Recycling International (CRI) sits in 272nd place, based on a growth in turnover of 440% over the past four years, which correlates with the company’s rise to global leadership in the field of Carbon Capture and Utilization (CCU).
CRI’s growth is in part attributable to an upgrade of the company’s CO2-to-methanol plant in 2015, which increased production capacity to 4 million litres of methanol per year. CRI is also developing partnerships in Europe and China, based on its proprietary technology which enables utilization of industrial CO2 emissions for methanol production.
Increased awareness of the risks associated with climate change and demand for pragmatic approaches to reducing CO2 emissions, has put a premium on CCU solutions. Renewable methanol from CRI’s first production plant is already used as a gasoline component, in methanol fuel cells, for biodiesel production and as a feedstock in the chemical industry.
“Our presence on Deloitte’s list of growing technology companies is a testament to the fact that hard work and effort by the CRI team is yielding tangible economical results,” said Sindri Sindrason, CEO of CRI. “It is also a token of future potential in the field of Carbon Capture and Utilization where CRI has been a prime mover.”