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Monday, December 6, 2021

Jim Ratcliffe snubs Britain in €2bn green hydrogen scheme

Britain has been left out of an initial wave of hydrogen plants announced by Sir Jim Ratcliffe after the chemicals tycoon unveiled plans for factories in Germany, Belgium and Norway.

Ineos, the billionaire’s company, will invest more than €2bn (£1.7bn) into electrolysis projects to make zero-carbon green hydrogen across Europe.

It said the first unit to be built will produce clean hydrogen through the electrolysis of water in Norway, powered by renewable electricity, and will serve as a hub to provide gas for the country’s transport industry.

This will be followed by projects in Germany and Belgium.

Ineos said that it also intends to invest in France and the UK, where the hydrogen business will be headquartered, but did not give details. An insider said more information would be shared shortly.

How hydrogen output could expand in the coming decades, using carbon capture utilisation and storage (CCUS):

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