British chemical company Ineos has announced plans to invest more than €2bn ($2.31bn) in electrolysis projects to produce zero-carbon hydrogen across Europe.
The first projects will be built in Norway, Germany and Belgium over the next ten years. The company also plans to build facilities in the UK and France.
At present, Ineos, through its subsidiary Inovyn, is considered one of the largest operators of electrolysis in Europe.
The electrolysis process is used to produce green hydrogen for the power generation, transportation and industrial sectors.
Inovyn CEO Geir Tuft 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 electrolysis facility to be built by Ineos will be a 20MW electrolyser in Norway, which will produce clean hydrogen through the electrolysis of water.
The Norwegian facility will have the capacity to reduce 22,000t of carbon emissions a year. Hydrogen produced at this facility will be supplied to the Norwegian transport sector.
Ineos also plans to build a 100MW electrolyser at its site in Koln, Germany, where it will use green hydrogen to produce green ammonia.
The Koln project is expected to offset more than 120,000t of carbon emissions a year.
Ineos’ hydrogen business will be based in the UK. The company plans to install hydrogen production capabilities at all its European sites.
Inovyn hydrogen business manager Wouter Bleukx 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.”