Ineos to invest €2B in green hydrogen production across Europe
Ineos will add new green hydrogen capacities across Europe over the next ten years.
Ineos today (18th October) has announced to invest over €2 billion in the production of zero-carbon, green hydrogen across Europe.
Ineos plans to build hydrogen plants in Norway, Germany, Belgium with investment also planned in the UK and France. Through its subsidiary Inovyn, Ineos is already Europe’s largest existing electrolysis operator and has extensive experience in the storage and handling of hydrogen.
The first unit is planned to be a 20 MW electrolyser powered by zero-carbon electricity in Norway. It will cut ~22k tonnes of CO2 annually by reducing the carbon footprint of Ineos’ operations at Rafnes and serving as a hub to provide hydrogen to the Norwegian transport sector.
Ineos plans to build a larger scale 100 MW electrolyser to produce green hydrogen at its Koln site in Germany. The development will further support the decarbonisation of Ineos operations at the site. Hydrogen would then be used in the production of green ammonia. The Koln project will result in slashing of over 120k tonnes/year of CO2. The project will also open opportunities to develop E-Fuels through Power-to-Methanol applications on an industrial scale.
Jim Ratcliffe, Ineos Chairman, said, “Green hydrogen represents one of our best chances to create a more sustainable and low carbon world.”
Geir Tuft, CEO Inpvyn, commented, “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.”
Wouter Bleukx, Business Director at Inovyn, added, “Ineos is uniquely placed to support new opportunities, driven by emerging demand for affordable zero-carbon energy sources.”