Ineos, a British chemicals company, will invest around €2 billion in green hydrogen generation, which is a clean energy that is critical in the decarbonization of the industrial sector.
This was reported by a large number of British media outlets. Belgium will be home to one of the first manufacturing facilities.
With the objective of creating green hydrogen, Ineos has announced the greatest investment ever made in electrolysis projects in Europe, according to the company.
Plants will be constructed in Norway, Germany, and Belgium over the course of the next 10 years as part of the investment. Investments are also being considered in the United Kingdom and France.
Belgian officials have not provided any more information, although it was revealed last year that Antwerp was a key competitor for the hydrogen project. By the way, the Belgian -Wouter Bleukx- is in charge of the hydrogen activities of the chemical group, which is interesting to note.
The first unit to be developed for Ineos will be a 20 MW hydrogen plant in Norway that will be fueled entirely by renewable energy sources. Ineos wants to construct a 100-megawatt hydrogen power plant at its Cologne facility in Germany.
Europe has called for further investment in green hydrogen, and today’s announcement from Ineos underlines the company’s commitment to playing an essential role in the creation of this crucial new fuel, according to CEO Jim Ratcliffe.