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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

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.

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

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“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.”