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Pursuant to the agreement, Mitsui & Co., Ltd. will purchase all the nitrous oxide emission reduction rights for melanin from 2007 to 2012 at US$ 11.5/ton CO2 equivalent, and will invest in blackening input testing equipment and new catalysts for free.
The Blackening CDM project plans to use the newly approved N2O2 catalytic decomposition method of the United Nations CDM Council to reduce the emission of N2O during the production of nitric acid, and it is expected to reduce emissions by about 900,000 tons of CO2 equivalent per year. The project is expected to be implemented in 2007. After the project is implemented, it will earn approximately US$10 million in revenue. This project not only solves the environmental problems caused by the emission of nitrous oxide from the Heihua Group, but also the proceeds of the project are reused in the dry quenching project within the Group, thereby realizing a virtuous cycle of environmental protection projects that promote the development of environmental protection projects.
China's clean development mechanism and sustainable development strategy are interlinked and have permeated various fields of economic and social development. The clean development mechanism has been given priority in China. As of August 10 this year, there were 79 CDM projects approved by the National Development and Reform Commission, including 9 in the chemical industry.
China's first nitrous oxide reduction project implementation
On September 29, the China National Chemical Corporation-affiliated New Materials Corporation and Japan’s Mitsui & Co., Ltd. signed a cooperation agreement for the Clean Development Mechanism (CDM) project of Heilongjiang Black Chemical Group Co., Ltd. in Beijing. This project is the first project to decompose the nitrous oxide gas methodology approved by the UN CDM Council, and is also the first CDM project in China to reduce nitrous oxide emissions.