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Petrochem Research Firm, Power Institute Ink Collaboration Deal

Petrochem Research Firm, Power Institute Ink Collaboration Deal
(Wednesday, February 21, 2024) 16:36

TEHRAN (NIPNA) -- In a move aimed at advancing technology and commercialization efforts in the country's power industry, the Petrochemical Research and Technology Company (PRTC) and the Power Research Institute have signed a memorandum of understanding (MoU) for joint cooperation.

The MoU, signed in the presence of Morteza Shahmirzai, Deputy Minister of Petroleum and CEO of the National Petrochemical Company (NPC), covers various areas including the development of technologies required for the power industry, commercialization, and the expansion of the fuel basket for thermal power plants.

The agreement includes cooperation on the utilization of petrochemical products such as methanol and dimethyl ether, the development and deployment of CO2 absorption processes from power plant flues, and the advancement of POWER TO X technology to complete the fuel cycle and supply part of the consumable fuel.

Additionally, the agreement encompasses the advancement of industrial combustion technologies and the development of electrolysis technology simultaneously to produce synthesis gas from power plant flues.

This collaboration aims to bolster technological capabilities and drive innovation in Iran's power sector, contributing to the nation's energy independence and sustainability goals.

The signing ceremony underscores the commitment of both entities to harnessing synergies between the petrochemical and power industries, leveraging expertise and resources to address challenges and capitalize on opportunities for growth and development.

The collaboration between the PRTC and the Power Research Institute marks a significant step towards fostering innovation and enhancing the competitiveness of Iran's power industry on the global stage.

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