The world's largest green hydrogen + coal-to-olefins project was officially approved! Completed in 18 months, Baofeng Energy has added new impetus for development

On the evening of November 24, Baofeng Energy, a leading domestic coal-to-olefins enterprise, issued the "Announcement on the Environmental Impact Assessment Approval of the 3 Million Tons/Year Olefin Project in Inner Mongolia", marking the official approval of Baofeng Energy's Inner Mongolia olefin project.

The world's largest production capacity is the largest, building a new highland of high-end coal-based new material industry

Under the background that the recent new renewable energy and raw material energy consumption is not included in the total energy consumption control policy has been clarified, the green development of modern coal chemical industry in China is expected to usher in a new round of industrial expansion
.

Baofeng Energy actively responds to the call of the national "dual carbon" strategy, in line with the goal of promoting the high-end, low-carbon, cluster development of coal-based new materials industry and ensuring national energy security, in Tuke Industrial Park, Ordos City, Inner Mongolia, to build an olefin project with an annual output of 3 million tons, which will be completed and put into operation 18 months later, which will build the world's largest single-plant "green hydrogen +" coal-to-olefin industrial base, and is also the only large-scale project
in the world to replace fossil energy with green hydrogen to produce high-end chemical products.

Led by scientific and technological innovation, open up a new route of green hydrogen + coal to olefin

Led by scientific and technological innovation, Baofeng Energy has introduced the world's top modern coal chemical technology, process and equipment, of which the methanol to olefin plant adopts DMTO three-generation technology, and the methanol unit consumption is reduced by 10% on the existing basis, which is expected to promote the company's future coal-to-olefin raw material cost further reduction, highlighting the best cost advantage
in the industry.

The company has always adhered to the new path of high-quality development oriented by ecological priority and green development, innovatively used "wind-solar complementary" renewable energy to generate green electricity to produce green hydrogen, and directly supplied chemical plants to produce high-end chemical products, so as to achieve hydrogen for coal, carbon reduction and efficiency
.
In the current planning of the project, 400,000 tons of olefins are produced by replacing coal with green hydrogen, and in the future, it will continue to increase the scale of green hydrogen production in wind and solar, continuously integrate and improve olefin production capacity, and strive to create a new model of modern olefin industry with "leading technology, industry leadership and world-class"
.

The total production capacity has been steadily increased, and the dual-center layout has laid the momentum for growth through the cycle

In the future, after the Baofeng Energy Inner Mongolia project is fully put into operation, the company will form a development pattern of "Ningdong + Ordos" dual center, and the Ningdong Phase III olefin project will soon be put into operation of 1.
5 million tons/year coal-to-methanol project, locking in a number of high-certainty performance growth points
.
According to CSC's calculations, the Inner Mongolia project alone is expected to bring the company an annual gross profit of 10 billion yuan and a net profit of about 7 billion yuan
.
From this point of view, only the expected contribution profit of the Inner Mongolia project is close to the company's net profit for the whole year of 2021, and the approval of the project can be described as "creating another treasure"
.

Since the beginning of this year, the global energy pattern has undergone tremendous changes due to the overseas energy crisis, and on the basis of low-carbon environmental protection, low-end production capacity with high costs will be eliminated by the market at an accelerated pace, and energy companies have stood at the fork
of the times 。 The approval of Baofeng Energy's Inner Mongolia project at this time fully proves that Baofeng Energy, which has the advantages of zero carbon and low cost, is leaping against the trend, relying on its huge strength, consolidating the momentum of green and high-quality development, improving the total factor productivity of enterprises with practical work, accelerating the process of efficient energy consumption and clean energy production in China, realizing the replacement of oil with coal, replacing imports with products, ensuring the national energy security, stable and green supply, and vigorously consolidating the "basic plate"
of stable economic progress and quality improvement.