For the reversal of climate change to succeed, we not only need new technologies, but also fast action. According to current calculations of the Intergovernmental Panel on Climate Change IPCC, we will already have exceeded the still acceptable limit of 1.5 degrees Celsius of global warming in 20 years. Cooperation is a good accelerator.
We initiated this type of coop-eration at the end of 2020 when we founded the P2X
Europe joint venture with the energy solution provider for transport, Ma-banaft. In the future, our joint venture will facilitate the marketing of synthetic hydrocarbons on an industrial scale. The most important target markets for e-fuels are aviation and selected road traffic sectors. The buyers of the specialty wax products are wide-ranging customer groups from the chemi-cal-pharmaceutical industry and the cosmetics sector.
Since 2017, we have been producing hydrogen from certified green electric-ity at the site in Hamburg, which we have been using in our refinery processes so far. At the same time, our 5 MW electrolysis plant is also providing the basis for broader use of hydrogen as a resource.
We are pushing the door open to market-ing on an industrial scale through additional marketing and sales cooperation. An example of this is our collaboration with Nordic Electrofuel. The Norwegian company is planning the construction of several modern e-fuel production plants in Porsgrunn, which is situated around 150 kilometers southwest of the Nor-wegian capital, Oslo, as well as in other parts of Norway. P2X Europe will begin to purchase and market synthesized quantities of fuels and waxes manufac-tured in a climate-friendly manner from 2024 – in the jet fuel business and the chemical base materials industry. In the first phase, a demonstration plant will supply 8,000 tons of fuels and waxes per year. The annual production capaci-ties will be gradually expanded to more than 800,000 tons.
The cooperation between P2X Europe Nordic and Electrofuel strengthens the supply base of our joint venture and will help to rapidly promote the market pen-etration with carbon-reduced power-to-liquid products and thereby make a
significant contribution to defossiliz ing our industry. This shows that “green cooperation” is effective. And worthwhile. Our solution makes us an innovation leader in our market for hydrogen-based products and business models. That is a leading edge that our customers will appreciate in the truest sense of the word in the future.
With our NextGate demonstration plant – also in Hamburg – we are taking the next step and will produce synthetic raw waxes and fuels in a climate-friend-ly manner using a power-to-liquid sys-tem. Production is starting in the first half of the year. The plant has a production capacity of 350 tons per year. Around 150 tons of waxes will be produced per year, which we can process further and provide to our customers in the cosmetics, pharmaceuticals and food industries. The remaining 200 tons of e-fuels will go to the market via the joint venture.