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INEOS to invest $2.3 billion on green hydrogen production
Published by maria gbaf
Posted on October 18, 2021
1 min readLast updated: January 29, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on October 18, 2021
1 min readLast updated: January 29, 2026
INEOS will invest $2.3 billion in green hydrogen production across Europe, starting with plants in Norway, Germany, and Belgium, aligning with EU's zero-carbon goals.
(Reuters) – INEOS, Europe’s largest Hydrogen producer, said on Monday it would invest more than 2 billion euros ($2.3 billion) on electrolysis plants to make zero-carbon green hydrogen across Europe.
The first plants will be built in Norway, Germany and Belgium over the next 10 years, with others planned in the UK and France, the company said in a statement that did not specify the total duration of the investment.
It said it intended to work closely with governments within the European Union, which has made hydrogen a key part of its plan to eliminate greenhouse gas emissions by 2050.
The EU plans to install capacity of 40GW of electrolysers – equipment to produce emissions-free hydrogen using water and renewable power – this decade, up from less than 0.1GW currently.
Last month, INEOS said it would convert its Scottish petrochemicals plant and oil refinery at Grangemouth to run on hydrogen at a cost of more than 1 billion pounds ($1.4 billion) to make it net zero for carbon emissions by 2045.
($1 = 0.8621 euros)
(Reporting by Sabahatjahan Contractor in Bengaluru; editing by John Stonestreet)
The article discusses INEOS's $2.3 billion investment in green hydrogen production across Europe.
The first plants will be built in Norway, Germany, and Belgium.
The EU plans to install 40GW of electrolysis capacity by 2030.
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