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P1 Fuels and Carbon Recycling International (CRI) Sign Contract to Deliver E-Fuel Production Unit to Germany

(F.l.t.r.: Mani Sarathy (Professor of Chemical Engineering at KAUST, and acting CTO at P1 Fuels), Martin Popilka (CEO, P1 Fuels), Björk Kristjánsdóttir (CEO, CRI), Kristjana M. Kristjánsdóttir (CCO, CRI)

COP28 Announcement Highlights Partnership's Commitment to Sustainable Fuel Solutions

DUBAI, UAE, December 6, 2023 / -- P1 Performance Fuels, a trailblazer in fossil-free synthetic fuel, announces a transformative collaboration with Carbon Recycling International (CRI) to drive e-fuel production for internal combustion engine (ICE) vehicles. P1 Fuels has signed a contract with CRI, a global leader in clean methanol technology, for delivery of an e-methanol production unit. The collaboration focuses on integrating CRI's innovative Emissions-to-Liquids (ETL) technology with P1's proprietary methanol to gasoline technology to produce low cost e-fuels that can be used in cars without engine modification.

The strategic partnership aims to accelerate the shift towards replacing fossil fuels for ICE vehicles, contributing significantly to global climate goals. This announcement is made in the backdrop of the COP28 Climate Action Zone, underscoring the urgency of adopting green technologies for reaching the climate goals.

By leveraging both technologies, this enhancement will enable the production of synthetic gasoline from methanol, derived solely from CO2 and Hydrogen (H2). P1’s demonstrator plant leveraging this technology will go live in 2024 and serve as a blueprint for industrial sized plants. This initiative aligns with the global momentum towards sustainable fuels and complements ongoing efforts to make the 1.3 billion ICE vehicles on our planet more environmentally friendly.

“We are extremely happy to cooperate with P1 and to deploy our technology into this project. Furthermore, it is yet another demonstration of the diversity of CRI's ETL technology. It emphasizes the important role technology plays in the Energy transition and fight against climate change. We need to utilize the existing, proven technology available today and take action.” said Björk Kristjánsdóttir, CEO of CRI.

"I’m thrilled to have CRI join us on our ambitious journey to replace fossil fuels for the 1.3 billion cars on our roads that would otherwise rely on fossil fuels, as we make this announcement in the COP28 Climate Action Zone, it exemplifies our commitment to immediate and impactful climate action through innovative, green solutions for all ICE vehicles," said Martin Popilka, CEO of P1 Fuels.

In addition to supplying the equipment, CRI will collaborate closely with P1 Fuels to ensure seamless integration, provide operational support during the start-up phase, and train P1's team for optimal plant performance.

Both companies envision e-fuels as a scalable and sustainable solution for all modes of transportation, requiring no modifications to existing infrastructure or vehicle engines, and providing cost-effective liter prices for the mass market.

About CRI
CRI is a recognized technology leader in the Carbon Capture and Utilization market, offering a one-of-a-kind CO2 to methanol solution. Founded in 2006 in Iceland, CRI has its origins in producing and selling the world‘s first certified E-methanol. Since then, the company has extended its reach by developing, scaling, and deploying CO2 to methanol plants worldwide.

Today, CRI provides a comprehensive range of end-to-end solutions, including its proven-at-scale ETL technology. With its current technology portfolio capacity to recycle over 300,000 tonnes of CO2 annually, the company stands at the forefront of harnessing carbon emissions and hydrogen for sustainable fuels and chemical production.

About P1 Fuels
P1 Fuels is the global leader in fossil-free fuels for the automotive industry, which serves as a seamless drop-in solution for all petrol engines. P1’s trailblazing technology in the production of fossil free fuels provides a scalable solution for the decarbonization of internal combustion vehicles.

Having proven their performance in challenging conditions, P1 fuels have been utilized in international motorsport since 2018, powering racing cars, classic vehicles, and endorsed by over 20 automotive suppliers and OEMs. P1 Fuels is the exclusive fuel supplier to various racing championships including FIA World Rally Championship (WRC), FIA Karting Championship and many others.

The German green tech company's primary objective is to scale up the production of fossil-free synthetic fuels using CO2 and green hydrogen. To achieve this, P1 Fuels is establishing an e-fuels demonstration plant in Germany, scheduled to commence operations in 2024, with plans for an industrial production plant in 2029.

Contact details:

Ómar Freyr Sigurbjörnsson
Director Marketing and Communications
+354 865 5736
+354 527 7000

P1 Fuels
Aleksandar Musikic
Senior PR & Communications Advisor
+49 179 45 66 933

Aleksandar Musikic
P1 Performance Fuels GmbH
+49 179 4566933
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