Vancouver, B.C. & Calgary, AB, April 20, 2022 (GLOBE NEWSWIRE) — Purpose ESG Holdings Inc. (“Purpose ESG” or the “Company”), an investment issuer building a portfolio of technology companies that support environmental, social, and governance (ESG) outcomes, is announcing its investment in Nauticol Energy Ltd. (“Nauticol”). Nauticol is headquartered in Calgary, Alberta, and is on track to becoming the world’s first large scale net zero methanol producer in the world.
Methanol is a clear, odorless liquid that is water soluble and biodegradable. More than 99% of global methanol is produced from coal and natural gas with unabated CO2 emissions. Nauticol’s net zero methanol will be produced with integrated carbon capture and sequestration (CCS) to permanently store CO2 emissions deep underground.
“We have made significant progress securing regulatory permits and agreements for commercialization, along with earning consistent support from indigenous communities and investors,” said Mark Tonner, CEO of Nauticol. “We plan to commence construction of the first plant this year and begin production in 2026 with initial capacity to produce 1.7 million tonnes of net zero methanol annually.”
Nauticol has also secured transportation deals with TC Energy and CN Rail, as well as Port access via Prince Rupert, B.C. It has also secured offtake agreements with two investment grade offtakers for 80% of its product and to provide access to burgeoning Pacific markets.
“Nauticol’s first project is competitively positioned adjacent to abundant natural gas feedstock and vast underground deposits of natural gas in Grande Prairie, Alberta,” said Young Bann, CEO of Purpose ESG. “Methanol can be used as an alternative to conventional transportation fuels and is particularly popular in the marine transport industry. It has not previously been proactively adopted due to heavy pollution caused by conventional coal-based production.”
In 2020, the Maritime Safety Committee approved the long-awaited formal adoption on the use of methanol as a marine fuel providing a genuine alternative for a low-carbon fuel to meet 2030 maritime compliance requirements and beyond.1
Compared with conventional marine fuels, methanol has proven superior performance across emissions categories including up to 80% lower nitrogen oxide (NOx) emissions along with the elimination of sulfur oxide (SOx) and particulate matter (PM) emissions. Methanol offers significant reductions in CO2 emissions relative to traditional marine fuels where up to 95% can be achieved with renewable feedstocks.2
With the rising adoption of methanol as a marine fuel and the growth development of other markets such as hydrogen carriers, the methanol market is expected to grow from US$24 billion in 2020 to US$66 billion by 2030 with a CAGR of 5.5% during the forecast period.3
Sign up for updates from Purpose ESG: https://purposeesg.com/
About Nauticol Energy Ltd.
Nauticol Energy Ltd. is an energy transition company that will produce net zero and carbon negative fuels and chemicals for hard-to-abate sectors such as the marine, aviation, and petrochemicals industries. Nauticol’s first facilities provide sustainably produced net zero methanol by harnessing Western Canada’s abundant natural gas, along with carbon capture and sequestration. Methanol is a clear liquid fluid that is odorless and biodegradable, it is used in countless everyday products and as a clean burning fuel. Demand is forecast to continue to surge as methanol becomes an established marine fuel and hydrogen carrier for methanol powered fuel cells. It is particularly suitable for use in marine fuel to dramatically reduce nitrous oxide (NOx), sulfur oxides (SOx), and greenhouse gasses (GHG) emissions. Learn more: https://www.nauticolenergy.com/
About Purpose ESG Holdings Inc.
Purpose ESG Holdings Inc. (“Purpose ESG”) is an investment issuer with a portfolio focused on environmental, social, and governance (ESG) outcomes, with a focus on electrification, food tech, hydrogen power, carbon capture, and technologies supporting the circular economy. Purpose ESG provides its investors with the opportunity to participate in the growth of a portfolio of breakthrough technologies and value chain solutions with market leadership potential. The Company will work closely with its portfolio companies to drive their growth and success, ultimately working to build a smarter, cleaner, and more sustainable future. Learn more: https://purposeesg.com/
ON BEHALF OF THE BOARD OF DIRECTORS:
Young Bann, CEO
Purpose ESG Holdings Inc.
For investor inquiries or further information, please contact: firstname.lastname@example.org
For media inquiries, please contact: Brittany@Exvera.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Purpose ESG in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities may not be offered or sold within the U.S. or to U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.