Statoil and Methanex to form Strategic Alliance towards methanol for fuel cells

Nov 12, 1999 01:00 AM

Statoil and Methanex signed a five year Memorandum of Understanding to form a Strategic Alliance. The primary intent of this agreement is to work towards the safe introduction of methanol as a fuel for fuel cell applications.
Under the Memorandum of Understanding, both companies will work together towards establishing a demonstration pilot program for fuel cell vehicles in Europe using methanol as the fuel. The pilot program will entail all aspects of the supply, distribution and marketing of methanol.
Mr. Finn Kulas, head of the Methanol Division of Statoil stated, "We are convinced that methanol is a suitable and safe fuel for the fuel cell vehicles of tomorrow. As representatives of Responsible Care(R) businesses, we have decided to work together in order to prepare for such an introduction." Pierre Choquette, President and CEO of Methanex Corporation added, "This agreement with Statoil continues the steady progress being made towards establishing a retail methanol supply infrastructure for the successful commercial introduction of fuel cell vehicles. Our agreement comes at a time when auto manufacturers are becoming more and more vocal in their support for methanol as the fuel of choice for fuel cell vehicles."

Methanol is a clean and environmentally friendly fuel that is made predominantly from natural gas. In addition, methanol can be made from renewable resources. It is a basic chemical building block used in many environmentally friendly products such as recyclable plastics, reconstituted wood products and cleaner burning gasoline.
With methanol as the fuel, the consumer would enjoy the benefits of fuel cell technology without any significant changes to their current refuelling practices.

Methanex is a Vancouver based, publicly traded company engaged in the world-wide production and marketing of methanol.

Statoil is engaged in international exploration and production of oil and gas as well as refining and marketing. Statoil is also engaged in power production and trading. Statoil is the operator and major owner of Europe's largest methanol plant at Tjeldbergodden, Norway.

Source: via Newspage
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