Methanex Corporation (MEOH) and Entropy Inc., a leader in carbon capture and storage solutions, have agreed to invest in a preliminary front-end engineering and design study for carbon capture, utilization and sequestration (CCUS) deployment at its Medicine Hat, AB facility. This partnership will use Entropy's proprietary modular post-combustion carbon capture technology and Methanex's manufacturing skills to utilize some of the captured CO2 to produce additional methanol, demonstrating the leadership of tw ...

Core Insights - Methanex Corporation and Entropy Inc. have entered into an agreement to invest in a Preliminary Front-End Engineering and Design (Pre-FEED) study for carbon capture, utilization, and sequestration (CCUS) at Methanex's facility in Medicine Hat, Alberta, showcasing leadership in the low-carbon transition [9][10] - The project aims to capture approximately 400 tonnes of CO2 per day, with an investment of approximately CAD $100 million (around USD $75 million), expected to create about 200 construction jobs and several permanent jobs once operational [10][11] - A portion of the captured CO2 will be utilized as feedstock to produce approximately 50,000 tonnes of additional methanol annually, while the remaining CO2 will be permanently sequestered underground [10][11] Company Collaboration - The collaboration leverages Entropy's proprietary modular post-combustion carbon capture technology and Methanex's manufacturing expertise, with Entropy constructing and owning the capture equipment adjacent to Methanex's facility [9][10] - Methanex aims to reduce global GHG emission intensity by 10% by 2030 and advance at least one Low Carbon Solutions project into Pre-FEED in 2024 [11] - The project aligns with Alberta's strategy for energy transition and carbon reduction goals, contributing to both regional and global benefits [11][12] Financial and Strategic Investments - Entropy has entered into a strategic investment agreement with the Canada Growth Fund, which includes a CAD $200 million investment and a Carbon Credit Offtake agreement for up to one million tonnes per annum of carbon credits for 15 years [5] - The partnership with Methanex is expected to enhance the economic viability of the project through access to funding from provincial and federal carbon reduction programs [2][5] - Entropy's technology is designed to deliver commercial profitability with an industry-leading cost structure, aiming to scale up the deployment of CCS technology globally [5]

Key Project Highlights: "We're excited to advance this first-of-its-kind carbon capture solution in North America in collaboration with Entropy," said Mark Allard, Senior Vice President, Low Carbon Solutions ("LCS"), Methanex. "This project exemplifies Methanex's commitment to reduce our global GHG emission intensity by 10% by 2030 and to advance at least one LCS project into Pre-FEED in 2024." Methanex and Entropy are committed to collaborating with stakeholders throughout the project's lifecycle to ensure ...

Inquiries: Sarah Herriott Director, Investor Relations Methanex Corporation 604-661-2600 or Toll Free: 1-800-661-8851 www.methanex.com VANCOUVER, British Columbia, June 04, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that its 1.26 million tonne Egypt methanol production facility (Methanex 50% equity interest of 0.63 million tonnes per annum) was temporarily idled this morning as lower gas supply and increased seasonal demand for power generation has led to gas curtai ...

VANCOUVER, British Columbia, June 04, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that its 1.26 million tonne Egypt methanol production facility (Methanex 50% equity interest of 0.63 million tonnes per annum) was temporarily idled this morning as lower gas supply and increased seasonal demand for power generation has led to gas curtailments to industrial plants. Methanex is working closely with its partner and gas supplier to resume gas supply. Methanex is a Vancouve ...

A month has gone by since the last earnings report for Methanex (MEOH) . Shares have added about 9.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Methanex due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Methanex's Q1 Earnings & Revenues Surpass Estimates Meth ...

VANCOUVER, British Columbia, April 25, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held on April 25, 2024 in Vancouver, British Columbia. Voting Results from Annual General Meeting A total of 57,127,836 common shares were voted at the meeting, representing 84.78% of all outstanding shares. Shareholders voted in favour of all items of business before the meeting, incl ...

Methanex Corporation (MEOH) logged a first-quarter 2024 profit (attributable to shareholders) of $53 million or 77 cents per share, down from $60 million or 87 cents per share in the year-ago quarter.Adjusted earnings per share (barring one-time items) in the reported quarter were 65 cents, topping the Zacks Consensus Estimate of 30 cents.Revenues fell roughly 11.8% year over year to $916 million in the quarter. The top line beat the Zacks Consensus Estimate of $908.5 million.Adjusted EBITDA in the reported ...

For the quarter ended March 2024, Methanex (MEOH) reported revenue of $916 million, down 11.8% over the same period last year. EPS came in at $0.65, compared to $1.11 in the year-ago quarter.The reported revenue represents a surprise of +0.83% over the Zacks Consensus Estimate of $908.5 million. With the consensus EPS estimate being $0.30, the EPS surprise was +116.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Methanex (MEOH) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $1.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 116.67%. A quarter ago, it was expected that this methanol supplier would post earnings of $0.28 per share when it actually produced earnings of $0.52, delivering a surprise of 85.71%.Over the last four quarters, the comp ...