With the launch of a new business to develop and build clean hydrogen capacity across Europe, Ineos is responding to the new opportunities presented by the zero-carbon energy targets set out by the UN and national governments around the world.
As the ‘first intent’ clean hydrogen facility in Europe, the business will have its headquarters in the UK. The company aims to build capacity to produce hydrogen across the Ineos network of sites in Europe, and at partner sites where hydrogen can accelerate the decarbonisation of energy.
The production of hydrogen based on electrolysis, the critical technology which uses renewable energy to produce hydrogen for power generation, will provide flexibility and storage capacity for heat and power, chemicals and transport markets.
Ineos currently produces 300,000 tonnes of hydrogen a year, mainly as a co-product from its chemical manufacturing operations. Through its subsidiary Inovyn, Ineos is Europe’s largest existing operator of electrolysis technology, and, said Geir Tuft, CEO of Inovyn, ‘with our existing capabilities in operating large-scale electrolysis’ is ‘uniquely placed to play a leading role in developing these new opportunities’.
Ineos is already involved in several projects to develop demand for hydrogen, replacing existing carbon-based sources of energy, feedstocks and fuel. It expects to develop further partnerships with leading organisations involved in the development of new applications. Ineos will also 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.