UK-headquartered chemicals firm Ineos has announced its resolution to invest Eur2 billion (approximately US$2.3 billion) in renewable hydrogen production across Europe over the next 10 years.
A key part of this planned investment endeavor is the 100-MW plant which will be developed in Germany, according to a statement published by the company dated 18th October.
Ineos mission is to establish production facilities in Norway, Germany, and Belgium, with other additional investments in the UK and France.
“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 green hydrogen and Ineos’ announcement today shows our determination to play a leading role in this important new fuel,” Ineos Chairman Jim Ratcliffe said.
The firm will commence the project by constructing a 20-MW electrolyzer for hydrogen production in Norway, powered by renewable electricity.
This project is expected to facilitate carbon emission abatement of about 22,000 mt/year at Ineos’ Rafnes chemicals plant. It is also planned that it would serve as a hydrogen hub for local transport applications.
Ineos is also working towards a larger 100-MW electrolyzer at its Koln plant in Germany, where the renewable hydrogen will be applied for the production of ammonia, cutting down CO2 emissions by more than 120,000 mt/year.
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