INEOS' 2024 in Review
Find out all about the years' achievements.
INEOS 2024 Review: First Class Delivery
Global chemical markets remain under pressure, but INEOS continues to move forward with confidence. Despite high energy and carbon costs in Europe and a tough economic climate, the company has kept its focus firmly on weathering the storm, on growth, innovation and sustainability.
One of the biggest milestones of 2024 was Project Greensand. Independent verification proved that CO₂ can be stored permanently and safely 1,800 metres beneath the North Sea. A final investment decision has since been made, with commercial operations due to start in early 2026. With commercialisation agreed, the project is now discussing CO₂ disposal solutions for industrial partners.
The year also saw a rare business sale. INEOS Composites a strong performer within INEOS Enterprises was sold for €1.7bn, securing significant value at the right time in its market cycle. INEOS Enterprises was established to act as an internal venture capital arm, identifying promising businesses, improving performance and unlocking value when conditions are right.
INEOS’ consumer businesses also delivered strong progress. The Grenadier 4x4 overcame supply chain challenges and is now driving across more than 50 countries, with new launches in North America, Mexico and China. Belstaff marked its 100th anniversary with a celebratory collection and a commemorative book, Our First 100 Years.
Sport remained a powerful part of the INEOS story. Sir Jim Ratcliffe assumed control of football operations at Manchester United, introducing a new leadership team, unveiling plans for a world-class training facility, and advancing designs for a 100,000-seater stadium that will revitalise the local economy. INEOS Britannia also made history in Barcelona, reaching the America’s Cup final – the first British team to do so since 1964 – and lifting the Louis Vuitton Cup.
The challenge for 2025 will be to sustain this momentum, with Project ONE and further strategic investments driving INEOS towards a stronger, more sustainable future.
