Cohort 2023: ICODOS
ICODOS is de-fossilizing maritime shipping and other industries via its revolutionary e-methanol production technology. Developing an interlinked process for carbon dioxide capture and methanol synthesis, ICODOS achieves scalable, low cost, and highly robust green methanol production.
The Problem
Shipping industry emits ≈3% of global GHG emissions. Without sustainable fuels this will not change. Though, the best sustainable alternative to fossil fuels – green methanol – is still too costly and too little available as today’s production technologies are insufficient.
The Solution
ICODOS re-imagined the e-methanol production process. ICODOS has pioneered two transformative innovations in e-methanol production:
Firstly, the patent-protected technology interlinks carbon capture directly with methanol synthesis into a hybrid process, leading to a 30% reduction in energy demand for CO2 capture, simplified plant construction, consistent performance, reduction of maintenance cost, and obviating the need for solvent procurement and handling.
Secondly, ICODOS technology enables a fully automated and dynamic methanol production, developing technology and going far beyond the current state-of-the-art. Together, these innovations not only significantly reduce e-Methanol production costs but also enable ICODOS to rapidly supply the market with cost-effective green methanol.
ICODOS’ Impact
“ICODOS built the ideal foundation for the industrialization of a step-change technology to massively reduce the cost of sustainable e-methanol production. Commissioning our fully integrated power-to-methanol plant in pilot scale as well as starting our demonstration project – both funded by Horizon Europe – we can now focus on scale-up and commercialization.” David Strittmatter, CEO
Why we invested
Alternative fuels for shipping continue to gain momentum, with the order book for ships capable of using methanol as fuel 20 times larger than the gross tonnage of methanol-fuelled ships currently in operation. ICODOS’ patented hybrid process, combining carbon capture and methanol synthesis, enables cost-effective green methanol production that is key for the decarbonization of global shipping. We look forward to bringing the solutions from this deeply scientific and operationally-experienced team to our commercial partners.
Join ICODOS at Katapult Ocean’s Investor Day on 5th December. If you’re an investor, sign up here.
