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PwC Up front | Issue 5 | Harnessing technology

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Page 23 of 55

22 Up front Summer 2014 Fuelling tomorrow In the alternative energy realm, Methanex President and CEO John Floren sees opportunities for steady growth By Guy Saddy On a Friday morning at Methanex Corp.'s downtown Vancouver head office, President and CEO John Floren is sans tie. But when it comes to discussing the shifting market for methanol, Floren is hardly laid-back. That's because in a rapidly changing world, methanol is gaining a prominent foothold as an alternative energy source. This bodes well for Methanex, whose global 14 per cent market share makes it the largest producer, marketer and supplier of methanol. Methanol is a colourless, biodegradable liquid formed primarily by mixing natural gas and steam. Originally distilled from wood sources – it was once colloquially referred to as wood alcohol – today it's used to make a vast array of products, from paints and plastics to, as Floren points out, my sport coat. John Floren President and CEO, Methanex The leaders As energy applications grow, they create very large demand. You want to have orderly growth on both the demand and supply side.

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