INEOS pledges EUR-2bn investment in European green hydrogen capacity

UK-based chemicals group INEOS on Monday announced plans to invest more than EUR 2 billion (USD 2.3bn) in the production of green hydrogen across Europe.

It will build its first plants in Norway, Germany and Belgium in the next 10 years and also plans facilities in the UK and France.

INEOS says that through its subsidiary INOVYN it is Europe’s largest existing operator of electrolysis facilities, which, in combination with its experience in the storage and handling of hydrogen, means it is well placed to be a leading player in the development of this emerging key decarbonisation fuel.

The company will start with a 20-MW clean hydrogen electrolyser in Norway which will reduce the carbon footprint of its operations at Rafnes and supply hydrogen to the Norwegian transport sector. INEOS also plans to build a 100-MW green hydrogen electrolyser at its Koln site in Germany.

The investment pledge follows a November 2020 announcement that INEOS had launched a business within INOVYN to develop and build clean hydrogen capacity in Europe, across the INEOS network of sites, as well as partner sites where hydrogen can help with energy decarbonisation.

According to the 2020 announcement, INEOS produced 300,000 tonnes of hydrogen annually mainly as a co-product from its chemical manufacturing operations.

The company is also looking to collaborate with European governments on the necessary hydrogen infrastructure.

(EUR 1 = USD 1.160)

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