INEOS Plans to Invest USD 2.3 Billion in Green Hydrogen Projects Throughout Europe
- 20-Oct-2021 5:46 PM
- Journalist: Harold Finch
In a recent announcement made by INEOS it was revealed that the company has plans of making one of the biggest investments to the tune of $2.3 Billion in Green Hydrogen all throughout Europe in the upcoming 10 years. The investments are being made in order to increase the production of green hydrogen in Europe. Plants will be built in Germany, Norway, and Belgium in the upcoming years and the company also has plans to invest in UK and France.
The company’s subsidiary INVOVYN is the biggest operator of electrolysis in Europe. Electrolysis is the technology which is used in manufacturing green hydrogen for energy, transport, and industrial applications.
The first phase of the project includes construction of a 20MW electrolyser in Norway which will be producing clean hydrogen from water using carbon neutral energy. The hydrogen produced will be supplied to the transportation industry by Rafnes will also be the operator of the site.
The project includes another 100MW electrolyser for green hydrogen which is set to be built at the INEOS’s existing site in Cologne, Germany. Hydrogen produced in this location will be consumed in the production of green ammonia. The company will also be adding assets in the upcoming years in order to develop e-fuels on an industrial scale at the facility.
As the projects will be carried out in Belgium, France, and UK, the company said that the company will be announcing partnerships with other player involved in developing new applications for the green hydrogen.
As per ChemAnalyst, “INEOS is uniquely placed to play a leading role in developing new opportunities in green hydrogen which are driven by emerging demand for affordable, low-carbon energy sources. The proposed investment in Europe is also aimed at capturing the exponentially rising demand for green hydrogen.”