INEOS, the third largest chemical company worldwide, has today 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 will have its headquarters in the UK and aims to build capacity to produce hydrogen across Europe.
Through its subsidiary INOVYN, INEOS is Europe’s largest existing operator of electrolysis, the critical technology using renewable energy to produce hydrogen for power generation, transportation and industrial use. INOVYN’s experience in storage and handling of hydrogen, combined with its established expertise in electrolysis technology, puts INEOS in a unique position to drive progress towards a carbon-free future based on hydrogen.
Currently INEOS produces 300,000 tonnes of hydrogen a year mainly as a co-product from its chemical manufacturing operations and is already involved in several projects to develop demand for hydrogen, replacing existing carbon-based sources of energy, feedstocks and fuel. It expects to develop further partnerships with leading organizations involved in the development of new applications. INEOS will also work closely with European Governments to ensure the necessary infrastructure is in place to facilitate hydrogen’s major role in the new Green Economy.
Wouter Bleukx, Business Unit Manager Hydrogen said: “Hydrogen is an important part of a climate neutral economy that has been discussed for decades. Finally, a hydrogen-fuelled 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.”
Source: INEOS │ www.ineos.com
Image: Pexels │www.pexels.com
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