INEOS has announced further investment in excess of £1bn to move its Grangemouth site forward on the next phase of its journey to reaching net zero by 2045.
On 22 September, it revealed how the next phase of its INEOS Grangemouth Road Map will reduce greenhouse gas emissions by over 60% by 2030 through a series of investments, partnerships and innovative engineering. All businesses at the site will move to production and use of hydrogen, alongside carbon capture and storage of at least 1mn tonnes of CO2 per annum by 2030. CO2 will be captured from existing hydrogen production, while a world-scale carbon capture enabled hydrogen production plant will also be built.
Additional emissions reduction contributions will come from further investments in energy reduction and optimisation, along with electrification of key equipment. It will also shift its polymer product portfolio to include higher levels of post-consumer recycled content in an effort to contribute to a growing circular economy.
This next stage of the Road Map will build on the 37% reduction in net CO2 emissions delivered since INEOS acquired the site in 2005. It has already invested £500mn on projects currently approved and being implemented at Grangemouth. One such project is its New Energy Plant, set for completion in late 2023, which will supply energy to all site operations and, through its highly efficient technology, drive down emissions by at least 150,000 tonnes of CO2 per annum.