Methanex and Entropy Partner to Reduce Emissions in Methanol Production

Leading Canadian Companies Enter Pre-FEED for Carbon Capture Utilization and Sequestration Deployment in Alberta

VANCOUVER, BC and CALGARY, AB, July 17, 2024 /CNW/ - Methanex Corporation ("Methanex") (TSX:MX) (NASDAQ:MEOH), one of the world's largest methanol producers and suppliers and Entropy Inc. ("Entropy"), a leader in carbon capture and storage solutions, have entered into an agreement to invest in a Preliminary Front-End Engineering and Design ("Pre-FEED") study for carbon capture, utilization and sequestration ("CCUS") deployment at Methanex's Medicine Hat, Alberta facility. This collaboration will leverage Entropy's proprietary modular post-combustion carbon capture technology and Methanex's manufacturing expertise to utilize a portion of the captured CO₂ to produce additional methanol, showcasing the leadership of two Canadian companies in the low-carbon transition. Upon final investment decision, Entropy will construct and own the capture equipment adjacent to Methanex's facility and Methanex will supply the utilities, build the tie-ins to its facility and operate the capture equipment once commissioned.