JOINT VENTURE FORMED IN CHINA

In collaboration with Geely Holdings and Zixin Industrial Co., CRI has incorporated a joint venture in China under the name CRI Ji Xin. The Shangai based company, which was registered in September 2017, will handle all sales and marketing in China, bringing the solution of CRI's ETL (Emissions-to-Liquids) technology closer to potential adaptors in the Chinese energy sector. 

The technology provided by CRI is a welcomed addition the climate change countering resources in China,  as it has set the ambitious goal of reducing CO₂ emission per unit of GDP by 40% before 2020. Additionally, China has vowed to increase the share of non-fossil fuel usage in total by 15% over the same time period, bringing further value to the methanol produced in CRI's unique process. China has taken its obligations towards securing a cleaner future seriously, showing very positive results in the latest climate change update report issued by the UN. 

James Xia, the recently appointed Chief Executive Officer managing CRI Ji Xin in China,  has more than 20 years working experience in fine chemicals, petrochemical, coal based conversion technology and projects. His resumé includes positions at multi-cultural companies such as Lurgi AG, BP and Total Petrochemicals, and also reflects a strong technical background from working in the area of project development, licensing technologies and business development. Before joining CRI, James managed business development of a world class coal to poly-olefin project for 7 years, where he was responsible for conducting feasibility studies, permitting,  selecting license technology etc.

The foundation of a joint venture is a milestone for CRI's operations, increasing its presence outside of Europe, taking steps towards the goal of creating a greener, cleaner future with the recycling of carbon dioxide.