The company has secured partnerships with major biogas suppliers, green methanol product offtakers, equipment and technology corporations, and a licensing agreement with MIT.
WOBURN, Mass.--(BUSINESS WIRE)--Nov. 12, 2024--
Emvolon, an MIT spun-off technology company that converts greenhouse gas emissions into carbon-negative fuels and chemicals, today announced several commercial and technical milestones. Following its recent field pilot announcement with Montauk Renewables to demonstrate the benefits of converting biogas into green methanol, Emvolon has secured multiple new partnerships with biogas suppliers, green methanol product offtakers, and multinational equipment and technology companies. Additionally, Emvolon announced that MIT has completed its licensing contract with the company. This protects Emvolon’s proprietary technology, originally developed by the company’s founders as MIT researchers, and supports Emvolon’s continued research on chemical decarbonization.
Heavy-duty transportation such as aviation, maritime and chemical manufacturing requires high-energy-density, easily transportable, liquid fuels. However, producing these fuels in a low-emissions manner remains challenging and expensive. At the same time, industries such as agriculture, municipal waste management and energy cause a significant amount of methane gas to be emitted into the atmosphere, contributing to 12% of total greenhouse gas emissions in the U.S. Emvolon collects and converts wasted methane gases onsite into ready-to-use, easy-to-transport, liquid green chemicals and fuels. By repurposing car engines as cost-effective modular chemical plants, Emvolon has designed a technology platform that converts biogas into liquid green methanol, which can then be transported in standard truck containers – offering a way to monetize otherwise wasted resources at a low cost and without expensive pipeline infrastructure.
“According to the EIA and EPA, more than 1,000 billion cubic feet of methane gas per year is emitted into the atmosphere as a greenhouse gas, because historically, there’s been no way to economically utilize that waste stream,” said Dr. Emmanuel Kasseris, co-founder and CEO of Emvolon. “Emvolon can directly address the harmful emissions and wasted resources of methane coming from landfills, water treatment plants, farms and industrial operations. Our modular units reduce the cost of converting waste into sustainable resources, offering the ability to generate up to $27 billion in green fuel sales while eliminating 1.2 gigatonnes of CO2 emissions.”
Emvolon has established multiple new partnerships that will eliminate greenhouse gas emissions equivalent to 90,000 gasoline-powered cars annually, produce more than 175,000 tonnes of green methanol annually, and generate more than $175 million in annual revenue. The company’s current partnerships include:
Biogas Suppliers & Project Developers
These partnerships will utilize up to 20 million cubic feet per day of methane from landfills and agricultural operations:
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Montauk Renewables
(NASDAQ:MNTK), for a field pilot to demonstrate the commercial benefits of converting biogas into green methanol. The goal is to scale up production using multiple Emvolon systems on additional Montauk-operated sites.
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Indian Biogas Association
, to collaborate on multiple projects utilizing Emvolon's wasted gas-to-green methanol production technology.
Green Methanol Product Offtakers
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Oberon Fuels
, to buy green methanol produced by Emvolon over five years.
-
SAFE Bulkers
(NYSE:SB), for green methanol supply for two of its vessels that are designed to run on green methanol.
Equipment & Technology Partners
-
Clariant, to collaborate on green methanol catalyst development and testing.
In addition to its commercial momentum, in July Emvolon received a $2.3 million grant from the U.S. Department of Energy (DOE) to develop a modular, scalable system capable of rapidly adjusting to renewable energy sources like wind and solar. DOE’s Moonshot Factory, the Advanced Research Projects Agency-Energy (ARPA-E), will manage the project through its Grid-free Renewable Energy Enabling New Ways to Economical Liquids and Long-term Storage (GREENWELLS) program. To date, Emvolon has raised a total of $10.5 million, with backing from notable investors such as Engine Ventures, shipping company Dorian LPG (NYSE:LPG), LDVP Partners, MassVentures and Vista Energy (NYSE:VIST).
Launched at MIT, Emvolon was co-founded by Drs. Emmanuel Kasseris and Leslie Bromberg. Dr. Kasseris previously led research, development and commercialization efforts for energy technologies at Chevron, ConocoPhillips and in academia. Dr. Bromberg, Emvolon’s Chief Science Officer, previously led research initiatives at MIT and various startup companies, and holds more than 90 patents. For more information about Emvolon or to inquire about partnership opportunities, visit emvolon.com.
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 while producing zero 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.
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Media
Kerry Walker
kerry@engineventures.com
Source: Emvolon
