INEOS to Invest EUR 2 Billion in European Green Hydrogen Electrolysis
British multinational chemicals company INEOS says it is planning a 100 megawatt electrolysis facility in the western German city of Cologne to produce green hydrogen. It’s part of a EUR 2 billion investment in the technology in a number of countries throughout Europe, including Norway, France the UK and Belgium.
The hydrogen produced in Cologne will be used to make green ammonia. The company says the new facility will reduce carbon-dioxide emissions in the Cologne area by 120,000 tons a year. Together with its subsidiary INOVYN, INEOS is already Europe’s largest operator of electrolyzers, and the project is the biggest of its kind ever in Europe.
“Green hydrogen represents one of our best chances to create a more sustainable and low carbon world,” said INEOS Chairman Jim Ratcliffe in a statement. “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.”
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