Geely $45.5 million acquisition of stake in Carbon Recycling International

Overview:

• The China-Based Zhejiang Geely Holding Group announced a $45.5 million investment in Carbon Recycling International (CRI). The investment consists of an initial investment and additional purchases of CRI equity over a three-year period.
• On completion, Geely will become the dominant shareholder in CRI.
• CRI is based in Reykjavik and operates developing technology to produce renewable methanol fuel from clean energy and recycled CO₂ emissions. It operates the world's first renewable methanol plant.
• Geely is an automotive group that owns such international brands as Volvo and the London Taxi Company.

Jon Moore - Journalist