M2X Energy’s Innovative Methane Mitigation Solution Produces First Methanol

Company Prepares System for First Field Deployment

August 14, 2023 08:00 AM Eastern Daylight Time

LEXINGTON, N.C.--(BUSINESS WIRE)-- M2X Energy, the company accelerating global decarbonization goals by eliminating methane emissions, announced today that its transportable, modular gas-to-methanol plant has reached a key milestone and produced its first methanol. The company is currently performing test runs to qualify the system for its first field deployment.

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“This major milestone substantially de-risks our innovative technology and validates its commercial viability,” said M2X Energy CEO Max Pieri. “We are currently the only company to offer a scalable on-site solution for oil and gas operators that captures waste flare methane and turns it into a clean and valuable industrial product. By reimagining typical natural gas flaring approaches, we are creating additional value for customers and decarbonizing their operations. We look forward to deploying our first system in the field very soon.”

The system producing M2X Energy’s first methanol was built and tested in partnership with ECR Engines, a high-performance combustion engine research, development, and production company. The unit was operated at the Richard Childress Racing campus in Welcome, N.C., a premier motorsports organization with a long, successful history in NASCAR racing and engine development.

To certify the carbon-intensity of its methanol, M2X Energy has partnered with SCS Global Services, which has independently assessed the production of its carbon-negative methanol. Once produced at scale, M2X Energy’s carbon-negative methanol will be cost competitive with traditional methanol and will be used as a low carbon fuel, in the creation of synthetic fibers and chemicals, and as a hydrogen carrier.

According to the Environmental Defense Fund, at least 25 percent of global warming today is driven by methane produced by human actions, and the concentration of methane in the atmosphere is continuing to increase. M2X Energy delivers a practical, scalable, affordable solution for tackling methane emissions at the source, which will help capture the almost $20 billion worth of flare gas that is currently wasted and leaking into the atmosphere.

After the first field demonstration of this commercial-scale system, M2X Energy will prepare for the deployment of additional units. The company is currently advancing manufacturing capabilities, expanding its engineering and commercial teams, and scaling operations to meet the fast-growing customer demand.

About M2X Energy

M2X Energy, Inc. is a venture-backed start-up founded by Breakthrough Energy Ventures that includes Eni Next, AddVentures by SCG, and the Autodesk Foundation as co-investors. M2X focuses on wasted natural gas conversion into low-carbon chemicals. Founded in 2020, its mission is to address natural gas flaring and venting by creating valuable products from otherwise wasted natural gas, thus reducing methane emissions, and producing carbon-negative chemicals. For more information, please visit www.m2x.energy.