MOSCOW (MRC) -- UK-based chemicals company Ineos plans to invest EUR2 billion (USD2.3 billion) in renewable hydrogen production across Europe in the next 10 years, including a 100-MW plant in Germany, as per the company's press release.
Ineos plans to build production facilities in Norway, Germany and Belgium, with additional investment in the UK and France.
"Green hydrogen represents one of our best chances to create a more sustainable and low carbon world," Ineos Chairman Jim Ratcliffe said.
The company will first construct a 20-MW electrolyzer for hydrogen production in Norway, powered by renewable electricity.
The project will reduce CO2 emissions by around 22,000 mt/year at Ineos' Rafnes chemicals plant, and act as a hydrogen hub for local transport applications.
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 per 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.
Ineos already operates electrolysis capacity through its Inovyn business, which produces chlor-akali and vinyl products.
As MRC reported earlier, in March 2021, Ineos and French power company Engie announced a pilot project to partially replace natural gas feed with hydrogen at Ineos’s phenol plant in Doel near Antwerp, Belgium. No investment figure has been given. Hydrogen will be used in a commercial-scale cogeneration plant designed to generate electricity and heat from natural gas. About 10% of the cogeneration plant's gas feed will initially be replaced by hydrogen, with this to then be increased to 20% in a gradual process. This is the first time that such tests have been carried out on an industrial scale in Belgium, says Ineos then. The cogeneration plant at the phenol site “has the ideal profile to realize this test," it says.
Phenol is largely used to produce bisphenol A (BPA), which, in its turn, is used in the production of plastics such as polycarbonate (PC) and epoxy resins.
According to MRC's ScanPlast report, Russia's overall estimated consumption of PC granules (excluding imports and exports to/from Belarus) fell in January-August 2021 by 14% to 62,000 tonnes from 72,100 tonnes a year earlier. .
Ineos Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.