CIMC Enric and Maersk Signed a Memorandum of Understanding to Deeply Collaborate on the Biomass-to-Green Methanol Project

A few days ago, CIMC Enric Holdings Limited ("CIMC Enric" for short, stock symbol: 3899.HK), a subsidiary of CIMC, announced the establishment of a strategic partnership with the global container shipping and logistics giant A.P. Moller - Maersk ("Maersk").
The two parties will rely on the key equipment and core processes of CIMC Enric to realize the industry demonstration of biomass-to-green methanol, and help the first generation of Maersk green container ships to navigate cleanly. The two parties have signed a cloud memorandum of understanding on this cooperation. In the future, the two parties will explore and establish a long-term close cooperative relationship in the field of clean energy based on the green methanol project. Mai Boliang, Chairman and CEO of CIMC, Gao Xiang, President of CIMC and relevant executives from Maersk attended the "Cloud Signing" ceremony.

According to the memorandum of understanding, CIMC Enric will rely on its own key equipment and core processes to help Maersk container ships start to use green methanol fuel through technological-innovation-based green solutions. The first phase of the project is a strategic demonstration project involving 50,000 tons of biomass-to-green methanol. The production capacity of the second phase of the project depends on the development, and the annual output of green methanol is expected to increase to 200,000 tons.

Yang Xiaohu, Executive Director and General Manager of CIMC Enric, said: "At present, the global green methanol is still in the early stage of development, and under the background of 'Dual Carbon', China's green methanol industry has huge development potential. CIMC Enric promotes safer, more economical and wider application of clean energy with technological progress and product innovation. Based on these, as an extension of the hydrogen energy industry chain, green methanol has good market prospects."