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Methanex and Entropy Partner to Reduce Emissions in Methanol Production

Jul 17, 2024almost 2 years ago

Contract Type

partnership

VancouverEnergyOil And Gas

Description

Methanex Corporation and Entropy Inc. have entered into an agreement to invest in a Preliminary Front-End Engineering and Design study for carbon capture, utilization, and sequestration deployment at Methanex’s Medicine Hat, Alberta facility. This collaboration will leverage Entropy’s proprietary modular post-combustion carbon capture technology and Methanex’s manufacturing expertise to utilize a portion of the captured CO2 to produce additional methanol, showcasing the leadership of two Canadian companies in the low-carbon transition.

Company Information

Company

Methanex Corporation

Location

Vancouver, British Columbia, Canada

About

Methanex is a Vancouver-based, publicly traded company and is the world’s largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the Nasdaq Stock Market in the United States under the trading symbol “MEOH”.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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