Green hydrogen, INEOS willing to invest 2 billion euro in electrolysis projects
INEOS, through its INOVYN business, is already Europe’s largest existing operator of electrolysis. The first plants will be built in Norway, Germany and Belgium in the next 10 years with investment also planned in the UK and France.
The global group INEOS is about to make quite a significant step in view of the so-called green hydrogen with the announcement of «Europe’s largest ever investment in electrolysis projects», according to the official press release. INEOS, through its INOVYN business is already Europe’s largest existing operator of electrolysis, the critical technology necessary to produce green hydrogen for power generation, transportation, and industrial use. The first plants will be built in Norway, Germany and Belgium in the next 10 years with investment also planned in the UK and France.
INEOS’ green hydrogen plans: the first investments
The first unit to be built will be a 20MW electrolyser to produce clean hydrogen through the electrolysis of water, powered by zero-carbon electricity in Norway. This project will 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.
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 electrolysisGeir Tuft, INOVYN CEO
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. Other projects will be developed in Belgium, France and the UK and the business expects to announce further partnerships with leading organisations involved in the development of new hydrogen applications. INEOS also intends to work closely with European Governments to ensure the necessary infrastructure is put in place to facilitate hydrogen’s major role in the new Green Economy.
Statements from INEOS and INOVYN top managers
«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», stated Jim Ratcliffe, INEOS Chairman.
«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», added Wouter Bleukx, INOVYN Hydrogen Business Manager.