INEOS announces over €2 billion investment in Green Hydrogen Production

INEOS announces over €2 billion investment in Green Hydrogen Production

  • This will be Europe’s largest ever investment in green hydrogen with the potential to transform zero carbon hydrogen production across Europe.
  • INEOS, through its INOVYN business is already Europe’s largest existing operator of electrolysis, the critical technology necessary to produce green hydrogen for power generation, transportation, and industrial use
  • The first plants will be built in Norway, Germany and Belgium in the next 10 years with investment also planned in the UK and France.
  • Jim Ratcliffe, INEOS Chairman says, “Green hydrogen represents one of our best chances to create a more sustainable and low carbon world. ​ ​ Europe is crying out for more investment in greenhydrogen and INEOS’ announcement today shows our determination to play a leading role in this important new fuel.

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INEOS has today announced that it is to invest more than €2 billion in the production of zero carbon, green hydrogen across Europe. Its first plants will be built in Norway, Germany, Belgium with investment also planned in the UK and France. ​ ​

INEOS, through its subsidiary INOVYN, is already Europe’s largest existing operator of electrolysis, the critical technology necessary to produce green hydrogen for power generation, transportation, and industrial use.

The business also has extensive experience in the storage and handling of hydrogen which puts it in a unique position to drive progress towards a carbon-free future based on hydrogen.

Geir Tuft CEO INOVYN said, “INEOS is uniquely placed to play a leading role in developing these new opportunities, driven by emerging demand for affordable, low-carbon energy sources, combined with our existing capabilities in operating large-scale electrolysis.”

The first unit to be built will be a 20MW electrolyser to produce clean hydrogen through the electrolysis of water, powered by zero-carbon electricity in Norway.  This project will lead to a minimum reduction of an estimated 22,000 tonnes of CO2 per year by reducing the carbon footprint of INEOS’ operations at Rafnes and serving as a hub to provide hydrogen to the Norwegian transport sector.

In Germany INEOS plans to build a larger scale 100MW electrolyser to produce green hydrogen at its Koln site. The development will further support decarbonisation of INEOS operations at the site. Hydrogen from the unit will be used in the production of green ammonia.

The Koln project will result in a reduction of carbon emissions of over 120,000 tonnes per year. It will also open opportunities to develop E-Fuels through Power-to-Methanol applications on an industrial scale. 

INEOS is developing other projects in Belgium, France and the UK and the business expects to announce further partnerships with leading organisations involved in the development of new hydrogen applications. 

In November 2020 INEOS launched a new business as part of INOVYN to develop and build Green Hydrogen capacity across Europe, in support of the drive towards a zero-carbon future.  

The INEOS hydrogen business will have its headquarters in the UK and aims to build capacity to produce hydrogen across the INEOS network of sites in Europe, in addition to partner sites where hydrogen can accelerate decarbonisation of energy.

INEOS also intends to work closely with European Governments to ensure the necessary infrastructure is put in place to facilitate hydrogen’s major role in the new Green Economy. 

Wouter Bleukx Business Director at INOVYN said: Hydrogen is an important part of a climate neutral economy that has been discussed for decades. As hydrogen becomes available for zero carbon transportation as well as many applications in the home and in industry INEOS is uniquely placed to support new opportunities, driven by emerging demand for affordable zero-carbon energy sources.”

 

 

About INEOS Belgium

About INEOS (https://www.ineos.com/)

A global manufacturer, INEOS operates 194 sites across 29 countries, generates $61 billion annually and employs over 26,000 people. Complementing our core business, INEOS is making an impact across a range of elite sports and becoming increasingly known to consumers, with the launch of the Grenadier (our uncompromising 4x4) and INEOS Hygienics. 

INEOS' business produces the raw materials and energy used for everyday life. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. For example, preservation of food and clean water; construction of wind turbines, solar panels, and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications.  

INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation. As part of its greenhouse gas emission reduction strategy, there is widespread goal to move to a more circular economy, in which materials are re-used to their maximum extent.  

About Project ONE

Project ONE is an investment by INEOS in the Antwerp chemical sector for the construction of an ethane cracker. The multi-billion euro investment is the largest in European chemistry in more than 20 years. The advanced plant will produce ethylene, one of the most widely used base chemicals worldwide and an essential building block for a wide range of products, including medical applications, textiles, computer and smartphone casings, household appliances, food packaging and cosmetics. Ethylene is also used in lightweight parts for cars and wind turbines, insulation materials for the construction industry and pipes for transporting drinking water.

Project ONE will set the standard for the chemical industry in Europe by employing the best available techniques. In particular, it will break new ground in terms of energy efficiency and will have a carbon footprint that is less than half of the top 10% steam crackers in Europe.

The target year for operation is 2026 as construction will take approximately 4 years. The investment will create 450 direct jobs and thousands of indirect jobs.

More information on : https://project-one.ineos.com


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