£1 billion investment to reduce Grangemouth emissions
Written by centralfmnews on September 22, 2021
Ineos has announced it is to invest £1 billion into reducing greenhouse gas emissions from the Grangemouth petrochemical plant.
They’ve outlined a proposal to power the plant with hydrogen made from natural gas – and then capturing carbon dioxide.
The Forth Valley site is currently one of the largest polluters in Scotland.
Ineos has already announced plans to reduce emissions by 60% before the end of the decade.
Michael Matheson, Falkirk West MSP, said:
“This will not only drive forward innovation and diversification to tackle emissions at Grangemouth, but will also support the decarbonisation of other sectors, sites and regions across Scotland,” he said.
The UK government has promised support for four carbon capture and storage projects by the end of the decade, and Mr Matheson said he hoped the Ineos investment would secure some of this funding.
“Grangemouth, and Ineos itself, already holds a wealth of experience in engineering solutions and hydrogen production, and this new investment holds great potential for the future of Grangemouth, as well as the vital jobs that are located there, as part of our just transition to net zero,” he said.
Stuart Collings, the CEO of Ineos O&P UK added: “Hydrogen will play a very important role in the decarbonisation of our manufacturing plants. Building the infrastructure for large scale utilisation of hydrogen creates a foundation to achieve net zero by 2045 and enables wider use of hydrogen by Ineos and others in and around Grangemouth.”