Ineos has announced a €2 billion ($2.3 billion) investment in green hydrogen and confirmed that the Grenadier will be available with a hydrogen fuel-cell powertrain.
The chemicals giant is Europe’s largest existing operator of electrolysis, the technology that uses renewable energy to produce hydrogen for power generation. Ineos already produces and uses 400,000 tonnes of low-carbon hydrogen every year and in late 2020, signed a Memorandum of Understanding with Hyundai to further the development of hydrogen technologies and powertrains.
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“We believe that hydrogen is the fuel of the future and INEOS is determined to take a leading role in its development,” Ineos founder and chairman Sir Jim Ratcliffe said in a statement. “When used in a fuel cell, hydrogen only produces water and is the UK’s best chance of reaching its carbon reduction targets. Electric cars are ideal for city centers and short journeys. But hydrogen is much better for longer journeys and heavier loads and that requires immediate investment in hydrogen distribution and hydrogen filling stations.”
In its statement, Ineos added that it will begin testing a hydrogen version of the Grenadier by the end of 2022, “to assess how best to optimize and integrate the technology.” It hasn’t yet been said when a hydrogen version of the off-roader could hit the market.
Ineos says it will construct hydrogen plants in Norway, Germany, and Belgium while furthering investments in the UK and France. The plant in Norway will be the first to go live and feature a 20MW electrolyzer. A larger 100MW electrolyzer will then be established at the German site. Ineos says it is also investing in the production of ‘blue hydrogen’ which can be safely captured and stored underground.
