Petrochemicals manufacturer Ineos announced it will invest more than 2 billion euros (£1.69 billion) in zero-carbon green hydrogen production in Europe. Ineos will invest in emissions-free production using electrolysis — an electrical current passing through water — with wind, solar or hydro-electric power providing the electricity. While burning hydrogen as a fuel emits just water vapour, most of the gas is made in a process that produces harmful emissions. Companies and governments are increasingly putting emission-free green hydrogen at the center of efforts to de-carbonize economic sectors that rely most on fossil fuels for their energy needs. Ineos said its investment in electrolysis will be the largest ever in Europe, building plants in Norway, Germany, and Belgium in the next decade. Investment is also planned in Britain and France and the hydrogen business will be headquartered in Britain. Ineos operates businesses in the chemical, oil and gas industries, including extracting gas in the North Sea. It is also venturing into the automotive industry and launching manufacture of a 4×4 off-road vehicle. The group is already Europe’s largest operator of the electrolysis technology and has “extensive experience” in storing and handling hydrogen.
INEOS is a global manufacturer of petrochemicals, specialty chemicals and oil products. Comprising 36 individual businesses, operate 194 facilities in 29 countries throughout the world. In recent years scope of operations has diversified with the launch of INEOS Automotive and INEOS Hygienics, acquisition of iconic British brand Belstaff and an ever-expanding sports portfolio. A blend of opportunism, belief that can add value and pursuit of our core values and passion for adventure.