Project ONE

Sir Jim Ratcliffe hosts Prime Minister Bart De Wever at INEOS €4bn Project ONE ethane cracker in Antwerp

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min INEOS INCH ISSUE 30

Sir Jim Ratcliffe hosts Prime Minister Bart De Wever at INEOS €4bn Project ONE ethane cracker in Antwerp

ONE man who has believed in INEOS’ Project ONE since the very beginning is Belgium’s Prime Minister Bart De Wever. He last visited the site in 2022 to witness the start of construction of INEOS' steam cracker. The then mayor of Antwerp described it as a historic moment for Antwerp. In June, he returned as construction of the new ethane cracker reached its peak.

“What we see happening before our eyes here is how investment in new technology is dramatically reducing CO₂ emissions and ensuring our prosperity for the future,” he said. “We need to bring that faith in progress back to politics and public opinion.”

During his visit, he met INEOS founder and Chairman Sir Jim Ratcliffe, together with co-owners Andy Currie and John Reece – and later spoke about his fears for the future of the petrochemical industry in Europe with installations being sold off and jobs lost.

“We literally cannot live without this industry,” he said. “Otherwise we will become totally dependent on the rest of the world.”

He described Project ONE as an incredible investment but said it was now the exception rather than the norm - a situation acknowledged by Sir Jim.

"Project ONE is the first new cracker in Europe in a generation and that’s the problem,” he said. “While the rest of the world is building over 20 new crackers Europe is sleepwalking into industrial decline.” Both he and Bart blamed crippling energy costs and punitive carbon taxes.

"We need urgent political will and industrial ambition, or we’ll watch Europe’s chemical industry vanish,” said Sir Jim. More than 2,500 employees were working on the site, as INCH went to press.

The first colossal cracker furnaces arrived in Antwerp after a 12,500-nautical mile overseas journey from Thailand in January. The ship carrying the second shipment of furnaces arrived in April. Since then 79 modules have been shipped to the site. Further shipments are planned, bringing the largest process modules from Abu Dhabi.

“Project ONE is no longer a virtual project on paper,” said John McNally, CEO of Project ONE. A major milestone is scheduled for later this year when the site will be fully powered up for the first time with the main electricity box capable of distributing the 380,000 volts to the cracker’s substations.

Full plant start-up is planned in early 2027. Once operational, 450 permanent staff will be needed to run INEOS’ once-in-a-generation cracker.

70%

Belgium’s Prime Minister Bart De Wever visit marks a significant milestone for Project ONE, which has now reached 70% completion and employs over 2500 people on site.

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Sustainability

SUSTAINABILITY is a way of life at INEOS. It is ingrained in all the business’ thinking, it is at the forefront of decisions, and it is what powers innovation and investment. We believe real sustainable progress is made when its global businesses focus on engineering, science and results, the results of which are invaluable to making informed decisions that benefit society, the environment, and the economy. “We solve problems,” says INEOS Chairman Sir Jim Ratcliffe. “We don’t posture.” The chemical industry is essential for modern existence yet faces unprecedented challenges. To INEOS, the challenges may be immense, but they also present a huge opportunity to help make the chemical industry more sustainable. “From oil, gas and LNG to the advanced polymers used across manufacturing, we deliver the energy and products society needs today and we are investing in the technologies for lower emissions tomorrow,” said Sir Jim. “It’s not a contradiction. It’s anecessity. You can’t build the future if the lights don’t stay on.” INEOS is currently building the most energy-efficient ethylene plant in Europe and is expected to have half the carbon footprint of today’s best-performing crackers anywhere in the world. This once-in-a-generation – €4 billion – investment sets the benchmark for how heavy industry must evolve. “It’s through renewal,” said Sir Jim. The company recently published its 2024 global sustainability report. It highlights its leading role in carbon capture and storage, and how Project Greensand is on track to become the EU’s first, full-scale CO2 storage facility to mitigate climate change. “We were the first in the world to prove cross-border carbon capture and storage can be done safely through the value chain, at scale, and we’re now moving rapidly towards commercialisation,” said Sir Jim. INEOS’ commitment to a more circular economy is another pillar of its strategy. The report shows how across INEOS, new products made from recycled components, raw materials and technologies are all being developed to support a more circular approach for petrochemicals. We are taking steps towards net zero for our organisation. “We’ll deliver net zero while continuing to deliver what the world needs by reducing our own emissions and by enabling others to cut theirs,” said Sir Jim. “That’s our contribution. That’s our plan for sustainability.” INEOS Sustainability Report 2024 The report highlights our commitment to and the steps we are taking towards net zero 2050. The data contained within the report provides information across all INEOS businesses worldwide.

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Climate change

Our climate is changing. But the global demand for fresh food and water, clothes, electronics, medicines, cars, planes and construction materials – all of which impact the climate – is not. It continues to grow. As a company which supplies the world withmany of the raw materials needed to sustain modern life, INEOS has been answering that call from manufacturers, whilst reducing its CO2 emissions. It will be a challenge for an energy-intensive company. But INEOS is determined to play its part in the transition to net zero. 2050 INEOS is committed to reducing its greenhouse gas emissions in accordance with the Paris Agreement and has a company-wide GHG management system in place to reduce emissions by 2050. 2030 INEOS wants to cut its greenhouse gas emissions by 33% by 2030 compared to 2019, while allowing for growth. Hydrogen INEOS already produces about 400,000 tonnes of hydrogen a year as a byproduct through its chlor-alkali and cracking operations and is well placed to apply its knowledge of electrolysis and the storage of hydrogen safely. INEOS Inovyn is keen to demonstrate the first industrial-scale electric cracker for vinyl chloride production, which has the potential to cut CO2 emissions at INEOS’ site in Rafnes, Norway. There are also plans to build a green hydrogen plant at Grangemouth in Scotland to supply INEOS from 2029. The plant will complement INEOS’ existing plan to build a blue hydrogen facility at the site by the early 2030s that will be connected to the Acorn carbon capture and storage network. Elsewhere, it continues to explore opportunities to ramp up production of clean hydrogen, not only for INEOS’ own sites, but for other industries seeking affordable, low-carbon energy.  Energy Efficiency INEOS may be energy-intensive, but it’s also energy efficient and strives continuously to optimise its processes and enhance the energy integration of its sites. INEOS O&P South has started to replace heavy fuel oil boilers with natural gas boilers in Sarralbe, INEOS Oxide in Köln, Germany, has finished installing a new off-gas compressor to reduce steam consumption, INEOS Energy plans to connect its wells in Eagle Ford, Texas, to the electricity grid instead of using gas and propane generators, and INEOS Inovyn wants to install a new salt plant in Tavaux that allows it to recycle waste heat. All four decisions either have – or will – help to cut CO2 emissions. Solar Power INEOS Oligomers now has its own solar farm in Belgium to supply its Feluy site and plans to open a second farm at the site in 2026. Work has also begun in Texas on a solar farm that will supply enough power to cover the net purchased electricity of all 14 INEOS O&P US facilities. In addition, INEOS Inovyn has opened a solar farm in Belgium to provide renewable electricity exclusively to its site at Jemeppe-sur-Sambre. Renewable Raw Materials Several INEOS businesses have been able to reduce CO2 emissions by using recycled and bio-based raw materials instead of those derived from natural gas. Commodity chemicals, such as phenol, acetone, styrene and PVC, are all now capable of being produced from renewable raw materials. Carbon Use INEOS already captures over 300,000 tonnes of CO2 a year at its plants in Antwerp, Tavaux, Lavera, and Cologne, and is working on a number of major carbon capture projects to reduce its operational emissions and offer CO2 storage services to others. Providing CO2 storage services is not only a commercial opportunity for INEOS but also helps reduce societal emissions outside of INEOS’ value chain—so called ‘scope 4’ emissions. Carbon Capture & Storage INEOS believes carbon capture and storage is a far better way to decarbonise Europe than to deindustrialise. It has been leading a project, now known as Greensand Future, which will soon be accepting shipments of unwanted CO2 at INEOS’ Nini platform in the Danish North Sea in a world first. The first shipments of CO2, which are due to start arriving at the platform later this year or early 2026, will be permanently stored in a depleted oil field. INEOS is also exploring additional opportunities for carbon capture and storage in Belgium, the US and as part of the Acorn project in Scotland in the UK. Wind Power INEOS Oxide has signed a five-year, renewable power agreement with Axpo to use wind power at its site in Zwijndrecht, Belgium. Climate Change Articles Project ONE aims for net zero with future-ready design Carbon Destroyer 1 launches as Europe’s first CO2 storage ship

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Project ONE aims for net zero with future-ready design

INEOS is breaking new ground with Project ONE. It will not only be the first ethane cracker to be built in Europe in a generation, but, thanks to the very latest technology, it is expected to have half of the CO2 footprint compared to the next best cracker in Europe. “If you compare new technology, in any industry, to very old technology, you get a transformation,” said John McNally, CEO of Project ONE. But what makes Project ONE even more special, is that it has been designed with one eye on the future. “We’re making it future-proof in the sense that if we can get our hands on enough low- carbon hydrogen, we can go from a very low footprint on carbon emissions to zero-carbon emissions in the future,” he said. “And no other plant in Europe can say that.” The plant, which will produce more than one million tonnes of the most widely-used chemical in the world, is currently being constructed in Antwerp, Belgium. Each piece of the giant project was built separately in other parts of the world and then shipped to the Port of Antwerp. The reasons that it has not been built from scratch on site, are two-fold. There is not enough space, and the expertise and manpower needed to complete a project of this magnitude no longer exist in North West Europe. The construction of INEOS’ €4 + billion investment is now reaching its peak. 50% Project ONE is expected to have 50% lower CO2 emissions compared to the next best cracker in Europe

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Carbon Destroyer 1 launches as Europe’s first CO2 storage ship

It was an industry born out of the need to lessen the effects of climate change. And it’s now on its way to proving its worth. In May, the first vessel, designed by Wagenborg to transport liquefied CO2 from across Europe, was launched. The vessel, Carbon Destroyer 1, is expected to carry CO2 from Denmark’s Port Esbjerg to the INEOS-operated Nini field in the Danish North Sea, where it will be permanently stored 1,800 metres under the seabed in a depleted oil field. “The launch of Carbon Destroyer 1 is an important next step for carbon capture and storage in Europe,” said INEOS Chairman Sir Jim Ratcliffe. “We are demonstrating that carbon storage is commercially viable and a far better way to decarbonise Europe without its deindustrialisation.” The ground-breaking vessel is part of Project Greensand, the EU’s first commercial-scale carbon capture and storage project. Construction is currently underway on a new CO2 terminal in the Port of Esbjerg. The unwanted CO2 will be stored at the terminal – in one of six, large storage tanks – before it is loaded onto the Carbon Destroyer 1 and shipped to the offshore Nini platform. Those first shipments could begin later this year. Initially, 400,000 tonnes of CO2 a year – mainly from biomethane producers – will be permanently stored underground, but there is the potential to expand over time to store up to eight million tonnes a year by 2030. “This is gas that would otherwise be released into the atmosphere,” said Mads Gade, Head of INEOS Denmark and Commercial Director at INEOS Energy, the operator and lead partner behind Greensand. The European Commission believes the EU will need to establish a carbon storage capacity of 250 million tonnes of CO2 a year by 2040 to achieve the objectives of the Paris Agreement. CO2 storage Carbon Destroyer 1 is launched as Europe’s first ship dedicated to offshore CO2 storage

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Circular Economy

In nature, waste doesn’t exist. Everything that dies returns to the earth and grows again. It goes full circle. The world’s economy currently operates in a different way. We make, take and then simply throw things away. But a circular economy could save resources, reduce CO2 emissions and create new business opportunities. INEOS, which has always seen the value in taking waste and making it into something else, does not need convincing of the benefits of a circular economy. It makes both environmental and business sense. 2030 Aim INEOS intends to incorporate at least 850,000 tonnes of recycled and bio-based plastic into its plastic products. 4Rs All INEOS sites use waste and by-products where possible. INEOS’ mantra is Reduce, Reuse, Recycle, Recover (energy). For example, at its Merak site in Indonesia, INEOS Aromatics valorised over 3,000 tonnes of wastewater sludge and equalisation basin waste in 2024 by selling it as a raw material to the cement industry. Waste In 2023, 19% of all waste generated at INEOS’ sites was recycled or reused. A further 17% was incinerated to create energy. The proximity of INEOS’ plants to other industrial partners means INEOS’ by-products can often be used as a raw material by others. INEOS Circular Initiatives Voluntary initiatives As a plastics producer, INEOS wants to help reduce the amount of plastic waste that ends up in landfill sites, or worse, as litter – and working in partnership with others, who share its vision for a sustainable world, is working well. Over the past 20 + years, INEOS has dedicated more than €30 million towards fulfilling the chemical industry’s voluntary commitment to recycle one million plus tonnes of PVC by 2030 through the VinylPlus® initiative. RecoVinyl®, the facilitator of VinylPlus®, has achieved remarkable success by collaborating with more than 150 recyclers and converters across Europe. Mechanical recycling For years INEOS has been working with recyclers and customers to enable plastics to be recycled and incorporated into new products. It has now launched more than 30 product grades that contain over 50% mechanically recycled content and match the performance of new materials. Partnerships INEOS believes everyone has a role to play in creating a circular economy – government, industry, NGOs and the public. And that’s why it is forging partnerships with other visionary companies. Innovative thinking INEOS is already producing first-class products made from more than 50% recycled material. Its Recycl-IN range of mechanically-recycled polyolefins – the plastics found in milk bottles, food packaging and medical applications – are made from mixing recycled plastic waste with highly-engineered virgin resins. INEOS says it won’t eradicate the root causes of plastic waste and pollution, but it will help to change thinking about plastic waste. INEOS has also launched a mechanically-recycled polystyrene that can be used for food packaging. Many of these recycled products are as good as those produced from purely gas and oil. Advanced recycling INEOS is already making significant strides towards a more sustainable plastics industry thanks to mechanical recycling. But mechanical recycling can only achieve so much because when PVC is mixed with other plastics and substances, it has its limits. That’s why INEOS is now also investing in advanced recycling technologies, which are capable of turning difficult-to-recycle plastic waste back into its original raw material so it can be fed back into INEOS’ plants to make new, high quality products. INEOS is evaluating alternatives with Agilyx and Technip Energies to open a TruStyrenyxTM recycling facility in Illinois that could depolymerise 100 tonnes of polystyrene waste a day, converting it back into high purity styrene monomer. It has also launched two new recycling pilot plants in Belgium that will test advanced dissolution technologies that can recycle PVC containing legacy additives or composite PVC materials. It is hoped the first industrial PVC waste recycling unit, capable of processing up to 40,000 tonnes of PVC waste each year, will be operational by 2030. Recycling At the moment, it is believed only 9% of plastic waste is recycled globally. For that reason, INEOS has been working closely with other businesses from across the world who want to transform today’s take, make, dispose economy into one where plastics are designed to be used over and over again. Designing products to be recyclable is therefore essential.   Renewable raw materials  INEOS’ main raw materials derive from oil and gas, but it recognises that has to change. And it is changing. INEOS is increasingly substituting fossil fuels for bio-based and recycle materials, such as mechanically-recycled plastic and industrial wood residues. Circular Economy Articles INEOS turns hard-to-recycle waste into food and medicine grade plastics Playmobil looks to the future with bio-based plastic toys “JUNIOR” for children ages 1 to 4

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INEOS turns hard-to-recycle waste into food and medicine grade plastics

INEOS is now using an oil made from hard-to-recycle plastic waste to manufacture virgin-quality polymers. It has converted its cracker at Lavera in France, so that it can use the pyrolysis oil to make recycled ethylene and propylene, which can then be converted into virgin-quality, recycled polyethylene and polypropylene in INEOS’ polymer plants in Lavera and Sarralbe and Rosignano in Italy. The quality of the recycled polyethylene and polypropylene is of such high quality that it can be used to package food and medicines. In the past only virgin raw materials produced plastic of that quality. “This is a major step forward for circular plastics in Europe and INEOS driving innovation with purpose,” said Rob Ingram, CEO, INEOS Olefins & Polymers Europe. “We’re creating high-quality recycled products from waste that would otherwise go to landfill or incineration. It marks the start of a new advanced recycling supply chain.” The cracker in Lavera in the south of France is now capable of using both pyrolysis oil and renewable naphtha as raw materials. Both materials are certified under the ISCC PLUS scheme and help customers to meet the EU’s 2030 targets for recycled content in plastic packaging. Pyrolysis Oil  A recycled oil made by heating hard-to-recycle waste without oxygen. INEOS uses it to produce virgin-quality polymers— good enough for food and medical packaging

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Playmobil looks to the future

INEOS Styrolution has figured out a way to support geobra Brandstätter Stiftung & Co.KG that the “PLAYMOBIL JUNIOR” range can be made from at least 90% renewable materials. The entire PLAYMOBIL Junior range is now produced using bio-circular plastics, instead of gas and oil – making it the first global toy brand to launch a full product line made from renewable raw materials. INEOS Styrolution said it had been impressed by the speed with which PLAYMOBIL had adopted its bio-based materials into its new JUNIOR range. “Our two companies share the same values,” said Sven Riechers, Vice President Sales Management EMEA at INEOS Styrolution. “We both care for the environment and future generations to enjoy it.” The range features Terluran® ECO and Zylar® ECO with at least 90% bio-based content. Both materials are ISCC-certified (bio-circular/mass balance approach), ensuring traceability and sustainability throughout the supply chain 90% INEOS Styrolution has figured out a way to make raw material from at least 90% renewable materials, which is used in PLAYMOBIL Junior Sets Terluran® ECO A fully bio-based ABS made from 100% renewable raw materials Zylar® ECO Transparent components are made with 90% bio-based content

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Water Stewardship

INEOS must – and does – use water responsibly. As a company, which has 154 sites around the world, it continues to improve how it recycles its process water, minimises its use of drinking water, and effectively handles, transports and treats its wastewater. Responsible Care® INEOS is a member of Responsible Care®, a global, voluntary initiative developed by the chemical industry to encourage the industry to go above and beyond the regulations. It operates in more than 60 countries and leads to transparency, continuous improvement, and doing what’s right for all. Treatment of Wastewater Due to the nature of chemical processes, wastewater is nearly always contaminated, which is why INEOS sites are optimised to reuse it until no further use is possible. Pasadena, USA: phenolic wastewater is used as a nutrient feed for the biota in the on-site wastewater treatment plant, avoiding the need to dispose of it as hazardous waste. Gladbeck, Germany: INEOS uses wastewater to dilute caustic soda, which is then used for neutralisation reactions and other purposes. Jemeppe, Belgium: INEOS pressed ahead with building a physicochemical treatment plant and consulted on plans to invest further in a biological treatment process. The two projects will remove particles and organic matter from PVC wastewater Water Efficiency All INEOS sites monitor how much water they use throughout the year and all steps to improve the way they use water, are taken. The amount of water, which is discharged, is also recorded and INEOS’ manufacturing sites are invited to share their plans to reduce, reuse, or replace fresh water. Water Consumption Reducing water consumption is a group-wide ambition at all INEOS’ manufacturing sites and considered essential whenever plants are being designed or upgraded. Antwerp, Belgium: the new cracker is designed to use demineralised water in the cooling circuits instead of city water and to reuse rainwater, which will considerably reduce water consumption.

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Our emissions

Emissions to air, water, and soil at INEOS sites are reduced through effective monitoring and by implementing best practices to minimise risks and take corrective action. INEOS is also committed to helping its customers to reduce their emissions. Effective monitoring Robust monitoring systems measure emissions to detect any issues or potential risks so that action can be taken. INEOS’ sites carry out risk assessments to identify potential sources of emissions and prioritise prevention measures and mitigation strategies. In the unlikely event of an incident, well-defined procedures are in place at each site to deal with the situation. Thanks to careful monitoring and taking corrective action, the frequency of minor losses has dropped significantly over the past eight years. Good communication INEOS shares information internally and with local authorities to learn from incidents. It also shares best practices, and complies fully with regulations, both of which have led to continuous improvement across the company. Emissions to air All INEOS sites monitor emissions of gases, to improve air quality and ensure the site is operating in line with local and national air pollution regulations. INEOS also has leak detection and quantification programmes in place for detecting and eliminating fugitive emissions from equipment. Emissions to water Emissions are closely measured to minimise their impact on the environment. That includes wastewater discharged directly from cooling systems, which does not come into contact with INEOS’ chemical products, as well as process water that must be treated before it is discharged. Emissions to soil and groundwater Soil and groundwater are both monitored so that any issues can be promptly detected. There are also storage tanks and loading/unloading facilities in bunds, impervious floors, and process units on concrete with dedicated sewage facilities, all of which are designed as an added safeguard. LOC 10 monitoring and reporting system The term “LOC 10” refers to INEOS’ internal safety performance metric – a Loss of Containment at 10% of the reportable threshold. Whenever a process releases material that reaches just 10% of the level legally required to be reported, it is logged and tracked as a LOC 10 incident. These are early warning indicators, minor leaks or releases. INEOS monitors them closely to identify hazards before they escalate. Over the past decade, the frequency of LOC 10 events has dropped by more than fourfold, reflecting the company’s strong focus on continual improvement in environmental and process safety.

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Pellet Loss

In 2016, INEOS signed up to Operation Clean Sweep, a voluntary commitment to help prevent tiny plastic pellets from being lost to the environment. Making a difference The success of Operation Clean Sweep at INEOS’ polymer sites has largely been due to intensive training, the sharing of best practices and a change in attitude across the entire supply chain.   Investment Measures have been implemented at all INEOS’ polymer plants to stop pellet loss. Such measures have included installing double guards to prevent pellets from being washed into the drainage systems, filters, water separators, extractors, rumble strips and air blowers to remove stray pellets from trucks leaving the sites. The polymer loading chutes have also been redesigned to reduce the risk of pellets being lost when the tankers are being filled. Today, even one pellet lost at any of INEOS’ sites is considered unacceptable. Spreading the word Training has been crucial to the success of Operation Clean Sweep. INEOS trains employees, truck drivers, and hauliers. Trucks are monitored and drivers have become accountable for the cleanliness of their vehicles before leaving the site.   Tidy Across the O&P Lillo site are dust pan and brushes, which are easy to find and easy to use. They are there to be used by employees, truck drivers, and others on site – and remind everyone of the need to keep the site clean.   Emissions to soil & groundwater Soil and groundwater are both monitored so that any issues can be promptly detected. There are also storage tanks and loading/unloading facilities in bunds, impervious floors, and process units on concrete with dedicated sewage facilities, all of which are designed to capture pellets as an added safeguard. THE SIX COMMITMENTS OF OPERATION CLEAN SWEEP® Improving worksite set-up to prevent and address spills Auditing performance regularly. Creating and publishing internal procedures to achieve zero industrial plastic material loss. Complying with all applicable state and local regulations governing industrial plastics containment. Providing employee training and accountability for spill prevention, containment, clean-up, and disposal. Encouraging partners (contractors, transporters, distributors, etc.) to pursue the same goals.

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Safety overview

INEOS is obsessive about safety. In a potentially hazardous business, INEOS knows that complacency can cost lives. That’s why the health and safety of its employees, contractors, and site visitors will always be its highest priority. But it’s also why, when mistakes are made, it is keen to ensure valuable lessons are learned. Every time. Safety procedures INEOS has strict group safety procedures that sites must follow, with regular auditing and performance- based incentives. Seven times lower In 2024, INEOS recorded 0.2 work-related injuries or illnesses per 200,000 hours worked for employees and contractors. This is seven times lower than the average incident rate for basic chemical manufacturing in the US. Fourfold reduction Since 2009, INEOS has achieved a fourfold reduction in the rate of work-related injuries and illnesses. No recordable incidents In 2024, INEOS sites in La Porte, Geel, and Lima achieved the milestone of no recordable incidents for 15 years, eight years, and five years, respectively.

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Community

INEOS’ approach to sustainability stretches far beyond the confines of its core businesses. In fact, charitable giving at INEOS is focused on health, education, conservation and community. From tackling childhood obesity and poverty to antimicrobial resistance and bio-diversity loss, INEOS and its employees work hard to raise money for charities and projects that are making a real difference. The company knows that global challenges require global thinking and as one of the world’s largest chemical companies, it is keen to play its part. Conservation INEOS is involved in conservation initiatives in Iceland and Southern Tanzania. Six Rivers Iceland has been working with experts to reverse declining, threatened Atlantic salmon stocks, and Six Rivers Africa’s goal is to protect the biodiversity of the vital wetland regions and former hunting areas. The Daily Mile Backing from INEOS has helped to spread the word – and benefits of running The Daily Mile – to 98 countries. The initiative was founded in a Scottish primary school but is now a part of daily life for more than five million children worldwide. The Ineos Oxford Institute The Ineos Oxford Institute has been funded by INEOS to enable urgent, cutting-edge research into antimicrobial resistance, which is deemed to be one of the greatest international health threats to mankind. Forgotten 40 INEOS has been funding 100 schools, serving the most deprived parts of the UK, to allow headteachers to invest in projects aimed at alleviating the very worst effects of childhood poverty.  

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Project ONE

Sir Jim Ratcliffe hosts Prime Minister Bart De Wever at INEOS €4bn Project ONE ethane cracker in Antwerp ONE man who has believed in INEOS’ Project ONE since the very beginning is Belgium’s Prime Minister Bart De Wever. He last visited the site in 2022 to witness the start of construction of INEOS' steam cracker. The then mayor of Antwerp described it as a historic moment for Antwerp. In June, he returned as construction of the new ethane cracker reached its peak. “What we see happening before our eyes here is how investment in new technology is dramatically reducing CO2 emissions and ensuring our prosperity for the future,” he said. “We need to bring that faith in progress back to politics and public opinion.” During his visit, he met INEOS founder and Chairman Sir Jim Ratcliffe, together with co-owners Andy Currie and John Reece – and later spoke about his fears for the future of the petrochemical industry in Europe with installations being sold off and jobs lost. “We literally cannot live without this industry,” he said. “Otherwise we will become totally dependent on the rest of the world.” He described Project ONE as an incredible investment but said it was now the exception rather than the norm - a situation acknowledged by Sir Jim. "Project ONE is the first new cracker in Europe in a generation and that’s the problem,” he said. “While the rest of the world is building over 20 new crackers Europe is sleepwalking into industrial decline.” Both he and Bart blamed crippling energy costs and punitive carbon taxes.  "We need urgent political will and industrial ambition, or we’ll watch Europe’s chemical industry vanish,” said Sir Jim. More than 2,500 employees were working on the site, as INCH went to press.  The first colossal cracker furnaces arrived in Antwerp after a 12,500-nautical mile overseas journey from Thailand in January. The ship carrying the second shipment of furnaces arrived in April. Since then 79 modules have been shipped to the site. Further shipments are planned, bringing the largest process modules from Abu Dhabi. “Project ONE is no longer a virtual project on paper,” said John McNally, CEO of Project ONE. A major milestone is scheduled for later this year when the site will be fully powered up for the first time with the main electricity box capable of distributing the 380,000 volts to the cracker’s substations. Full plant start-up is planned in early 2027. Once operational, 450 permanent staff will be needed to run INEOS’ once-in-a-generation cracker. 70% Belgium’s Prime Minister Bart De Wever visit marks a significant milestone for Project ONE, which has now reached 70% completion and employs over 2500 people on site.

2 min read

Young heed advice

A CAMPAIGN, which opened young people’s eyes to the threat posed by antimicrobial resistance (AMR), has won an award. The Ineos Oxford Institute had highlighted how everyday life would otherwise be deadly without adequate use of antibiotics. But, with the aim of delivering this message to young people, the institute used sex to show how a common sexually-transmitted infection could kill by 2040 if new antibiotics were not discovered. The Not In Our Lifetime campaign not only worked – with understanding of AMR almost doubling among those aged 18 to 29 – but it was also recognised by the UK Health Security Agency. “AMR is often seen as a distant or technical issue, but its consequences are immediate and personal,” said Avni Gupta, head of communications at the institute. “Young people play a crucial role in tackling AMR as they are the future stewards of antibiotic use.” Antimicrobial resistance already causes a million deaths a year and it’s getting worse. The overuse and misuse of antibiotics are to blame. So too is the lack of investment in new drugs to replace existing antibiotics that have lost their efficacy. The world has not discovered a new class of antibiotics for almost 40 years. But without new antibiotics, giving birth, an infected wound, ear infections, routine surgery and sex could become life-threatening because bacteria have evolved to resist most of the existing antibiotics, making the drugs ineffective. The institute’s Not In Our Lifetime campaign had focused on drug-resistant STIs – and warned gonorrhoea was at risk of becoming increasingly untreatable in the future due to the rapid rise of AMR. The campaign highlighted that those aged 15 to 24 were most likely to contract the disease and that there had been a 50% increase in gonorrhoea infections in the UK since 2021. But it is not just common STIs that are already resistant to antibiotics. About 90% of bacteria that cause urinary tract infections are resistant to at least one common antibiotic, and 80% are resistant to two. 

2 min read

UK site switches to hydrogen

INEOS has converted its manufacturing site in Hull, in the UK, to run on hydrogen instead of natural gas. The £30 million investment has cut CO2 emissions by 75%. “This is real progress,” said David Brooks, CEO INEOS Acetyls. “Not talk. Not targets. Action.” The 75% cut in carbon emissions is the equivalent of taking about 160,000 petrol cars off the road and a huge step towards INEOS’ net zero commitment. The investment at Saltend is part of INEOS’ wider strategy to decarbonise its operations across other INEOS sites, including Grangemouth in Scotland and Köln in Germany, as the company pushes hard to meet its climate targets. “We’re not waiting for 2050,” said David. “We’re doing it now.” INEOS Acetyls is the only industrial-scale manufacturer of acetic acid, acetic anhydride, and ethyl acetate in Europe. It produces essential chemicals used in everyday life, from medicines to clean water. It employs more than 500 people around the world. Most work in Hull. The hydrogen used at the Saltend site is a co-product from existing manufacturing processes, making it a smart, efficient use of resources already on hand. “Like most chemical businesses in the UK, we are working hard to compete in global markets while facing some of the highest energy and carbon costs in the world,” said David. “This investment is another step in our plans to supply the UK and European markets with highly reliable and low carbon products.” It’s also a model that INEOS believes can be replicated across the industry. Details of INEOS’ latest investment came just days after it expressed its disappointment at the EU Chemical Industry Action Plan’s failure to tackle the two biggest threats to the survival of Europe’s chemical industry – the high cost of gas and the escalating cost of carbon emissions. “The plan is too little, too late,” said Tom Crotty, Director of Corporate Affairs. “It fails to address the real issues, while the US and China race off with the keys to our industrial base. Europe talks, they act, and that’s why investment, innovation and jobs are packing their bags and heading elsewhere.” INEOS’ site in Köln is one of the most advanced integrated petrochemical facilities in Europe. But its gas bill is €100 million higher than the US, electricity is €40 million more and the carbon costs are heading towards €100 million annually. “That’s €240 million in additional cost every year, just to operate in Europe,” said Tom. Over the past two years alone, more than 20 chemical plants have closed across the continent. Investment and jobs are shifting to regions with cheaper energy, no carbon penalties, and industrial policies that support long-term growth. “If this continues, Europe will face accelerating deindustrialisation, losing its skills base, weakening supply chains, and shifting emissions and jobs abroad,” said Tom. “Europe needs more than ambition. It needs action. Immediate reduction of gas pricing and removal of carbon costs must be the next step if we are serious about maintaining a chemical industry in Europe.” HYDROGEN POWER The reduction of natural gas to power the site is the equivalent to taking approximately 160,000 petrol cars off the road each year INEOS Acetyls is the only industrial- scale manufacturer of acetic acid, acetic anhydride, and ethyl acetate in Europe INEOS Köln energy and taxes compared to USA counterpart €100MGas bill is €100 million higher than in the US €40MElectricity bill is €40 million higher than in the US €100MCarbon tax bill is rising towards a shocking €100 million €240MThat’s €240 million in additional cost every year, just to operate in Europe

3 min read

Celebrating Olympic Day

MILLIONS of children around the world regularly run The Daily Mile to keep fit and have fun. But it’s not every day that they are joined by an Olympic athlete for their 15-minute energy boost away from the classroom. For hundreds of schoolchildren in the UK, though, that’s what happened on June 23 when 30 British Olympians turned up at their schools to take part in Team GB’s Olympic Day Daily Mile. “Seeing how much energy and excitement the children put into celebrating Olympic Day was a brilliant reminder of how important it is to just move and have fun,” said Max Whitlock, who was recently named as the Team GB Foundation’s first ambassador. Olympic Day is celebrated around the world by athletes – past and present – every June 23. It is an annual tradition that dates back to 1948 and focuses on the core values at the heart of the Olympic Games – excellence, friendship and respect. Those values mean a lot to the INEOS-backed Daily Mile team too who were invited to celebrate with Team GB this year. “It was such a joy to see so many children across the UK getting active together on Olympic Day through The Daily Mile,” said global director Gordon Banks. In all, more than 107,000 children from 466 schools in the UK marked Olympic Day by taking part in The Daily Mile. Among the athletes visiting schools was Max Whitlock, the most successful gymnast in British history who visited St Mary’s RC Primary School in Salford, near Manchester. He was joined by Team GB long jumper Abigail Irozuru, who was born and raised in the city. Max and Abigail met pupils, told how being active had improved their well-being throughout their careers, and then took part in The Daily Mile. Jen Rouse, Managing Director of the Team GB Foundation, said, “Olympic Day was a powerful reminder of what sport could do for one’s confidence and resilience. It also builds a real sense of belonging,” she said. Olympic Day June 23 2025 30 British Olympians participated in the event 107,000+ children took part in the event 466 schools in the UK participated

3 min read