United Kingdom – INEOS Grangemouth plans to invest more than £1 billion in decreasing greenhouse gas emissions at its site to net zero by 2045, building on the 37 percent decrease in net CO2 emissions achieved since the site’s acquisition in 2005.
INEOS has already committed over £500 million to projects at Grangemouth that have been approved and are presently being implemented. This includes an investment in a New Energy Plant, which is expected to be completed in late 2023 and will supply energy to all of our site operations. The highly efficient technology will reduce emissions by at least 150,000 tonnes of CO2 per year.
Today’s plan includes more than £1 billion in additional spending to allow the next phase of the transition to net zero energy. Through a combination of investments, partnerships, and inventive innovation, the Road Map will achieve a decrease in greenhouse gas emissions of more than 60% by 2030.
The Road Map calls for all industries at the Grangemouth site to produce and consume hydrogen, as well as capture and storage of at least 1 million tonnes of CO2 per year by 2030. This will entail absorbing CO2 from existing hydrogen production and building a world-scale carbon capture enabled hydrogen production plant.
Additional investments in energy reduction and efficiency, as well as electrification of important equipment, will help to reduce emissions. As we contribute to a rising circular economy, polymer product portfolio will likewise transition to include larger quantities of post-consumer recycled content. The Road Map for INEOS Grangemouth emphasizes the company’s commitment to supporting the goals of the Paris Agreement and assisting the Scottish Government in its pursuit of a “Just Transition” to a net zero economy.