Methanol Institute Releases 2024 Edition of Methanol Milestones

WASHINGTON, DC, USA, April 15, 2024 /EINPresswire.com/ -- 2023 was an extraordinary year, as the methanol industry moved to seize the unique opportunity presented by methanol’s rise to prominence as a preferred marine fuel of the future. One of the highlights at the start of 2024 was the proclamation by Riviera Maritime Media that “Methanol as a marine fuel emerged as the biggest story of 2023.” This sentiment is borne out by the numbers, with well over 260 methanol newbuild vessels on order from the world’s shipyards, and methanol further solidifying its place as a mainstream fuel option with vessel orders surpassing those of LNG for 2023.

Beyond shipping, the Methanol Institute (MI) has seen tens of thousands of methanol taxis sold in China, along with hundreds of trucks, including new hybrid models. Methanol is now fueling cookstoves, industrial boilers, kilns, home heating, gensets, and fuel cell systems. MI has also seen a wave of announcements for low carbon, ultra-low carbon, bio and e-methanol production and have included an array of new data tracking these developments on MI's website. Continuing to grow its presence across MI’s digital platforms has been a central focus for the MI staff team in 2023 as well. Over the last year, MI has also welcomed over 25 new members to the association, and the association's membership now stands at over 90 companies and organizations.

In addition to continued growth in membership, MI accomplished a great deal across a wide range of activities in 2023. Some highlights include:

- The launch of a number of new policy focused member-driven working groups which will oversee advocacy and public policy efforts in Europe, the Americas, and with the International Maritime Organization.

- The expansion of MI's staff with the hiring of Business Development Manager Desmond Loo in Singapore, and Kjeld Aabo as a Senior Advisor for Maritime Transport.

- The launch of a GHG Accounting Task Force which has undertaken a series of workshops led by consultancy Hinicio.

- Continued support for methanol fuel vehicle standards in China.

- Increased support of events including the successful marine exhibit at NorShipping.

- Continuous collaboration with partner organizations such as eFuel Alliance, Renewable & Low Carbon Liquid Fuels Platform, and the American Chemistry Council.

In this year’s edition of Milestones, you will learn more about some of these initiatives as well as additional MI activities. You'll also get to meet MI's 2023 class of new members: AIRCELA, Berge Bulk, Cargill, COSCO Shipping, Geely, Green Marine, Linde, M2X Energy, Madoqua, MSEA Capital, Nacero, Oberon, PMW Technology, PTTEP, PuriFire Labs, Pyletech Energy, Renewable Earth Resources, Rolls Royce Power Systems, Royal Caribbean, Uniper, and VeryOne.

In 2024, MI will continue to lead the way in the emergence of methanol as a global marine and on road transportation fuel; work to identify and open new markets and opportunities for methanol around the world; continue to promote the methanol industry’s interests before legislators and regulators across the globe; expand MI's reach via social media and web platforms; promote methanol safety; and many other important initiatives.

As MI Board Chair Ben Iosefa noted in his remarks for this year's Milestones. "Together we are looking forward to an exciting 2024, and the Methanol Institute is well-positioned to achieve continued growth and success for our industry and each of our member companies. "

To view or download the 2024 edition of Methanol Milestones, click HERE.

Lawrence Navin
Methanol Institute
+1 703-248-3636
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