Ineos plans EUR2 bn investment in green hydrogen in Europe

Ineos plans EUR2 bn investment in green hydrogen in Europe

Chemical firm Ineos’s plans to invest EUR2 billion in green hydrogen production will be Europe’s largest ever investment in electrolysis projects to make green hydrogen with the potential to transform zero carbon hydrogen production across Europe. The first plants will be built in Norway, Germany and Belgium in the next ten years with investment also planned in the UK and France.

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 business also has extensive experience in the storage and handling of hydrogen which puts it in a unique position to drive progress towards a carbon-free future based on hydrogen.

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.

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.

The Koln project will result in a reduction of carbon emissions of over 120,000 tonnes/year. It will also open opportunities to develop E-Fuels through Power-to-Methanol applications on an industrial scale. 

Ineos is developing other projects 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. 

In November 2020 Ineos launched a new business as part of Inovyn to develop and build Green Hydrogen capacity across Europe, in support of the drive towards a zero-carbon future.  

The Ineos hydrogen business will have its headquarters in the UK and aims to build capacity to produce hydrogen across the Ineos network of sites in Europe, in addition to partner sites where hydrogen can accelerate decarbonisation of energy.

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. 

Jim Ratcliffe, Ineos Chairman says, 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 shows our determination to play a leading role in this important new fuel.”

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