Ineos Launches Clean Hydrogen Business
Ineos announced Monday that it has launched a new business to develop and build clean hydrogen capacity across Europe in support of the drive towards a zero-carbon future.
The business, which will be headquartered in the UK, aims to build capacity to produce hydrogen across the Ineos network of sites in Europe, in addition to partner sites where hydrogen can accelerate the decarbonization of energy, the company noted.
Ineos said it currently produces 300,000 tons of hydrogen a year, mainly as a co-product from its chemical manufacturing operations. The company added that it is already involved in several projects to develop demand for hydrogen, replacing existing carbon-based sources of energy, feedstocks and fuel.
According to Ineos, through its subsidiary INOVYN, the business is Europe’s largest existing operator of electrolysis, which it describes as a critical technology which uses renewable energy to produce hydrogen for power generation, transportation and industrial use. The company says its experience in storage and handling of hydrogen combined with its established know-how in electrolysis technology, puts it in a unique position to drive progress towards a carbon-free future based on hydrogen.
“Hydrogen is an important part of a climate neutral economy that has been discussed for decades,” Wouter Bleukx, Ineos’ hydrogen business unit manager, said in a company statement sent to Rigzone on Monday.
“Finally, a hydrogen-fueled economy is within reach as transportation in the UK, Germany, France and other countries begins to run on this carbon free technology. With extensive experience in electrolysis, Ineos is uniquely placed to support these new opportunities, driven by emerging demand for affordable zero-carbon energy sources,” the Ineos representative added in the statement.
Ineos is the world’s third largest chemicals company and employs around 22,000 people across 183 sites in 26 countries, its website shows.
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