INEOS invests over €2 billion in green hydrogen production for Europe

The company has provided Europe’s largest ever investment in electrolysis projects to make green hydrogen with the potential to transform zero carbon hydrogen production across Europe.

INEOS, through its subsidiary INOVYN, is already Europe’s largest existing operator of electrolysis, the vital technology used for green hydrogen production. The investment will produce plants in Norway, Germany and Belgium over the next 10 years, in addition to the UK and France.

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 today shows our determination to play a leading role in this important new fuel.”

The business already has extensive experience in the storage and handling of hydrogen, so INEOS is in a desirable position for driving progress in the hydrogen economy.

Geir Tuft, CEO  of INOVYN, said: “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.”

The first unit will be a 20MW electrolyser produced in Norway, powered by zero-carbon electricity.

The Norway project is expected to reduce INEOS’ carbon footprint by at least 22,000 tonnes of CO2 per year and provide hydrogen to the Norwegian transport sector.

In Germany, the project will be even larger with a 100MW electrolyser used to produce green hydrogen, further supporting the decarbonisation of their operations.

The German project will reduce carbon emissions by 120,000 tonnes per year and will open opportunities to develop E-Fuels through Power-to-Methanol applications on an industrial scale.

These projects across Europe aim to develop and build green hydrogen capacity to accelerate the decarbonisation of energy.

INEOS intend to work with European Governments to ensure the necessary infrastructure is put in place to facilitate hydrogen’s major role in the new Green Economy.

Wouter Bleukx, INOVYN Hydrogen Business Manager said: “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.”