Investment plan

Ineos unveils $ 2.3 billion European investment plan in green hydrogen

British giant Ineos has announced what it claims to be the biggest investment in Europe in the production of green hydrogen.

Ineos revealed on Monday that it is investing more than 2 billion euros ($ 2.3 billion) in electrolysis projects to produce green hydrogen at several of its sites in Europe.

The company intends to build factories in Norway, Germany and Belgium over the next 10 years, with investments also planned for factories in the United Kingdom and France.

Europe calls for more investment in green hydrogen

Ineos President Jim Ratcliffe

The Norwegian plant will be the first, with Ineos building a 20 megawatt electrolyzer that it says will reduce the carbon footprint of its Rafnes petrochemical complex by at least 22,000 tonnes of carbon dioxide per year.

It will then turn to a 100 MW electrolyser project in Germany to further decarbonize its operations in Cologne from more than 120,000 tpa of CO.2.

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Hydrogen from the Cologne site will be used to produce green ammonia, while Ineos says it will also open up opportunities to develop electric fuels through industrial-scale methanol power generation applications. .

Decabonization: Ineos plans to build a 20 MW electrolyser at its Inovyn Rafnes complex in Norway Photo: INEOS

“Green hydrogen represents one of our best chances of creating a more sustainable, low-carbon world,” said Jim Ratcliffe, President of Ineos.

“Europe is calling for more investment in green hydrogen and Ineos’ announcement today shows our determination to play a leading role in this important new fuel.

Ineos already claims to be the largest electrolysis operator in Europe through its subsidiary Inovyn, and also has a history of storing and handling hydrogen, with the company producing over 300,000 tonnes of hydrogen per year, mainly as that co-produces from its chemical manufacturing operations.

The company’s new investment in green hydrogen follows his announcement last month it would spend around £ 1bn ($ 1.4bn) to reduce emissions from its Grangemouth refinery and petrochemical plant in Scotland, in combination with the Acorn carbon capture and storage project.

Blue hydrogen is produced from natural gas feedstocks, the carbon dioxide by-product of hydrogen production being captured and stored. However, the process is not emission free.

Green hydrogen is made using electrolysis powered by renewable energy to split water molecules into oxygen and hydrogen, creating an emission-free fuel.

Ineos seeks to reduce the site’s emissions by 60% by 2030, with plans to initially produce blue hydrogen, but the company has not ruled out introducing green hydrogen production at the site to l future as it aims for net zero emissions in Grangemouth by 2045.

Ineos launched a new activity last year as part of the company’s strategy to develop clean and green hydrogen capacity across Europe, both at Ineos’ own sites and at potential partner sites.

Ineos said Monday that it plans to announce partnerships with “leading organizations involved in the development of new hydrogen applications,” without providing further details.

The company also intends to work closely with European governments to ensure the necessary infrastructure is in place to help the emerging hydrogen economy.


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