London, March 26, 2025
In a significant step toward advancing the global transition to sustainable fuels, Carbon Iceland and Johnson Matthey (JM) have officially signed a Memorandum of Understanding (MOU) to accelerate the deployment of sustainable methanol. This collaboration underscores the commitment of both companies to drive the adoption of renewable energy solutions and reduce carbon emissions across critical industries.
The MOU signing ceremony took place in London, with Hal Oskarsson, CEO of Carbon Iceland and Zinovia Skoufa, Managing Director, Methanol at Johnson Matthey. JM, a global leader in sustainable technologies, brings its market-leading CO2-to-methanol technology, which enables efficient methanol production on a large scale with low carbon intensity.
Enabling the Future of Renewable Fuels
This partnership will play a key role in Iceland’s journey toward carbon neutrality by 2040. Sustainable methanol, produced using JM’s technology in combination with carbon capture installations developed by Mitsubishi Heavy Industries and renewable hydrogen generated by electrolysis supplied by Siemens Energy, will serve as a viable alternative to fossil fuels, particularly in Iceland’s maritime sector, road transport, and as a crucial component for sustainable aviation fuel (SAF) production. With the rapid growth of methanol-powered ships and trucks, the demand for green methanol is expected to surge in the coming years.
“Iceland has immense potential to become a world leader in renewable fuel production,” said Hal Oskarsson. “Our collaboration with JM is a vital step in leveraging Iceland’s natural resources to produce and renewable fuels at scale, addressing the energy transition of hard-to-abate mobility.”
A Strong Step Toward a Greener Future
The partnership between Carbon Iceland and JM marks a pivotal moment in the effort to scale up sustainable fuel solutions. As Iceland continues to position itself as a leader in renewable energy, collaborations like this one will be instrumental in reducing emissions and advancing the global energy transition. With the shared vision of a cleaner future, Carbon Iceland and JM are set to make a lasting impact on industries that are traditionally dependent on fossil fuels, paving the way for a more sustainable world.
Carbon Iceland’s Mission: Capturing CO2 for a Sustainable Future
Carbon Iceland is dedicated to capturing CO2 on a large scale, particularly from industrial sources such as aluminum smelters. By re-using large volumes of CO2, Carbon Iceland contributes significantly to the fight against climate change. The captured CO2 is then combined with hydrogen generated by water electrolysis for production of renewable methanol, a liquid energy carrier powering long-range transportation sectors, including shipping, aviation, and heavy-duty road transport.
In the above picture: Zinovia Skoufa, Managing Director, Methanol at Johnson Matthey and Hal Oskarsson, CEO of Carbon Iceland.