January 20, 2025 [Manifold Times]- National Green Development Fund led the investment of nearly CNY 3 billion in ICT Developer, focusing on supporting its green methanol project in Yancheng, Jiangsu.
China’s National Green Development Fund recently made a strategic investment in ICT Developer, for green fuel production projects such as green methanol to help Shanghai build an international green fuel bunkering centre and promote the green and low-carbon transformation of the shipping and aviation industries.
The Fund strategically led the investment in ICT Developer, focusing on supporting its green methanol project, which is expected to produce 300,000 metric tonnes (mt) of green methanol. The project is located in Dafeng District, Yancheng, Jiangsu Province, with a total investment of nearly CNY 3 billion (USD 410.1 million).
It utilises the abundant local crop straw resources and uses green electricity throughout the process. Innovative research and development of biomass gasification equipment and green methanol production equipment has successfully begun.
The project has been successfully selected into the list of major projects of the Jiangsu Provincial Development and Reform Commission in 2024.
China’s National Green Development Fund recently made a strategic investment in ICT Developer, for green fuel production projects such as green methanol to help Shanghai build an international green fuel bunkering centre and promote the green and low-carbon transformation of the shipping and aviation industries.
The Fund strategically led the investment in ICT Developer, focusing on supporting its green methanol project, which is expected to produce 300,000 metric tonnes (mt) of green methanol. The project is located in Dafeng District, Yancheng, Jiangsu Province, with a total investment of nearly CNY 3 billion (USD 410.1 million).
It utilises the abundant local crop straw resources and uses green electricity throughout the process. Innovative research and development of biomass gasification equipment and green methanol production equipment has successfully begun.
The project has been successfully selected into the list of major projects of the Jiangsu Provincial Development and Reform Commission in 2024.
ICT Developer was jointly established by a scientific research team led by Professor Sun Yuhan of the Chinese Academy of Sciences, Shanghai Alliance Investment, Shaanxi Coal and Chemical Industry Group, Lu’an Chemical Group and other technology investment and energy industry groups.
Headquartered in Shanghai, it is a science and technology innovation enterprise focusing on the research and development and production of green fuels such as green methanol and sustainable aviation fuel.
The National Green Development Fund, was launched in Shanghai in 2020 and manages CNY 88 billion (USD14 billion).
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