INEOS to invest £1 billion to reach net zero by 2045

INEOS Grangemouth has announced planned further investment of over £1 billion towards reducing greenhouse gas emissions at its site to net zero by 2045, building on the 37% reduction in net CO2 emissions already delivered since acquiring the site in 2005.

INEOS has already committed over £500 million spend on projects which are approved and currently being implemented at Grangemouth. This includes investment in its New Energy Plant, which is due for completion in late 2023 and will supply energy to all our site operations and the highly efficient technology will drive down emissions by at least 150 000 tpy of CO2.

Today’s announcement includes in excess of a further £1 billion spend to enable this next phase of the transition to net zero.

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Source: Hydrocarbon Engineering