INEOS unveils €2 billion Green Hydrogen investment plans
By:
Tom Russell
18/10/2021
INEOS
INEOS has announced that
it is to invest more than €2 billion into electrolysis projects to make
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 technology necessary to produce green hydrogen
for power generation, transportation, and industrial use.
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 hydrogen
through the electrolysis of water, powered by zero-carbon electricity in
Norway. This project is expected to 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 could 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 aims to announce further partnerships with 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.
Wouter Bleukx, INOVYN Hydrogen Business Manager 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.”
