Sinopec Engineering Group (SEG) has entered into an agreement with Australia-based Greenearth Energy subsidiary NewCO²Fuels (NCF) to commercialise its CO²-to-fuel technology to the Chinese market. 

The next stage of the agreement follows a letter of intent between the parties and is in compliance to the cooperation agreement previously signed between NCF and Sinopec Ningbo Engineering in May.

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Both parties have agreed to the terms after conducting feasibility studies performed by SEG.

"The Chinese market is a huge opportunity for NCF’s technology."

The new agreement details the responsibilities and processes required to commercialise the technology in China, as well as a plan for the installation of full-scale plants following completion of a successful pilot.

Greenearth Energy's managing director Samuel Marks said: “This agreement is transformational for NCF and the best validation to date for the technology. To have a partner such as Sinopec Engineering engaged in the commercialisation of the CO²-to-fuel technology is indeed a game changer.

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“The focus now is on progressing through to the development of large-scale commercial plants after Sinopec Engineering secures the requisite funding.

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“Sinopec Engineering has done an inordinate amount of work to get to the commercialisation stage and is an impressive partner for NCF in China. The Chinese market is a huge opportunity for NCF’s technology and represents potentially more than 40% of the global market. We are enthusiastic about the strength of this partnership and the near-term commercialisation opportunity in China.”