On October 16, during the visit of Icelandic President Guðni Th. Jóhannesson to China, the 2025 Sustainable Global Leaders Conference was held in Shanghai. One of the major activities of the conference—the China-Iceland Business Cooperation Signing Ceremony—was attended by the President. At this event, Jilin Huajin Energy Co., Ltd. signed a cooperative agreement for a green methanol project and global procurement collaboration with Iceland Carbon Recycling International (CRI)/Mefinlong. Furthermore, CENTRAL NEW ENERGY HOLDING GROUP (01735) signed a strategic cooperation agreement with Jilin Huajin Energy through its subsidiary, CENTRAL NEW ENERGY Innovation Research Institute Co., Ltd.
Present at the signing ceremony were significant figures including China’s Ambassador to Iceland He Rulong, Iceland’s Ambassador to China Einar K. G. Hálfdanarson, Zhang Longbiao, Deputy Mayor of the Yushu City Government in Jilin Province, and other representatives from various institutions.
CENTRAL NEW ENERGY, listed on the main board of the Hong Kong Stock Exchange, focuses on photovoltaic (PV) renewable energy, delving into high-end manufacturing, advanced PV cell production, innovative research and development of efficient PV modules, smart manufacturing, product marketing, and low-carbon intelligent park development. The company explores multiple technological routes such as energy storage, hydrogen-methanol oil, and perovskite technologies concurrently.
Iceland Carbon Recycling International (CRI) is the world's first certified company for the production and sale of green methanol, committed to innovating carbon capture and utilization technologies, with the unique capability to produce methanol via carbon dioxide hydrogenation for over 10 years (ETL technology). Mefinlong (Shanghai) Environmental Engineering Technology Co., Ltd. is a Sino-foreign joint venture with CRI, focussing on market expansion, project consulting, and investment related to ETL technology for methanol production.
As per the agreement, all parties will collaborate closely on three key green methanol projects in Jilin Province: the Yushu project (2GW), a planned project in Baicheng, and a planned project in Huludao, Liaoning Province. CENTRAL NEW ENERGY will act as a strategic investor, providing core products and key technical support including green electricity PV modules and sodium-ion battery storage systems. CRI/Mefinlong will offer carbon capture and green methanol synthesis solutions through their leading ETL technology, while Huajin Energy will prioritize CENTRAL NEW ENERGY as a supply chain partner and coordinate complementary renewable energy resources.
The project collaboration involves major state-owned enterprises and top global organizations, ensuring comprehensive support across funding, technology, construction, and operation. The parties plan to deepen collaborative developments in areas such as photovoltaics, wind power, hydrogen-methanol, and sustainable aviation fuel (SAF) in Jilin and its surrounding regions, striving to form a closed-loop ecology of “Green Electricity - Green Methanol - Green Applications” and ultimately establishing an international cooperative model of “CENTRAL NEW ENERGY (Technology + Investment) + Huajin Energy (Capacity) + Iceland CRI/Mefinlong (Carbon Technology + Global Procurement).”
This partnership marks a continuation of the relationship between CENTRAL NEW ENERGY and Icelandic CRI/Mefinlong, having previously signed a strategic agreement at the SNEC 2025 exhibition in June. The signing event serves not only as a demonstration of corporate synergies but also as a tangible step towards global climate governance, showcasing China’s proficiency and solutions to enhance the scale of its green methanol industry while competing globally. In responding to the strategy to establish a clean, low-carbon, secure, and efficient energy system, this initiative not only aids the transition and upgrade of the energy structure in Northeast China's old industrial base but also exemplifies “new qualitative productivity,” contributing Chinese wisdom to global climate change mitigation.
Through collaborations with Iceland CRI/Mefinlong and forming a strategic loop with Huajin Energy, CENTRAL NEW ENERGY is leveraging this signing opportunity to build a green energy ecological network that “links global elements while basing itself in China.” Under the Belt and Road Initiative, CENTRAL NEW ENERGY is expanding its operations, aiming to integrate domestic green technology advancements into the global energy transition process. Its low-carbon intelligent park solutions have achieved commercial success, servicing over a hundred domestic and foreign industrial enterprises, industrial parks, and city projects, facilitating energy structure adjustments and industry upgrades through scenario expansion. On the international cooperation front, CENTRAL NEW ENERGY is actively engaging with foreign firms and institutions such as Sama Technology, Honeywell UOP, ONYX Group, Oman ENGLTD, and Saudi FCC, focusing on green energy-related business collaborations.
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