Investing in lower carbon production
- INEOS undertaking study, co-funded by SIETF, to lower carbon production at its manufacturing site in Grangemouth
- Study will consider energy efficiency improvements that will reduce consumption of natural gas at site, leading to a decrease of CO2 emissions by up to 50,000 tonnes per year
- Andy Hughes, Operations Director INEOS O&P UK Grangemouth, said, “This feasibility study demonstrates our creative thinking, innovative engineering and determination to address the need to reduce our carbon footprint and deliver on our commitment to net zero operations by 2045.”
INEOS is today announcing a co-funded feasibility study with the Scottish Industrial Energy Transformation Fund (SIETF) to look at improving the energy efficiencies on its primary manufacturing asset at Grangemouth – the KG ethylene plant.
The KG plant provides the cornerstone of manufacturing at Grangemouth, producing ethylene that is further processed on site and also exported via pipeline to industrial hubs in the North East and North West of England.
Andy Hughes, Operations Director INEOS O&P UK Grangemouth, said, “This feasibility study demonstrates our creative thinking, innovative engineering and determination to address the need to reduce our carbon footprint and deliver on our commitment to net zero operations by 2045. The study will review the technical and economic viability of redesigning the furnace convection section of the ethylene manufacturing process.”
Businesses at the INEOS Grangemouth complex are already on their journey to net zero, having reduced CO2 emissions by 37% since acquiring the site in 2005. With continued investment aligned to their Net Zero Strategy, the interim target of at least a 60% reduction of CO2 emissions by 2030 is firmly within its sights.
Note to Editors:
INEOS Olefins & Polymers (UK) Europe operates the petrochemical plants at Grangemouth. Its finished products of ethylene, propylene, polyethylene, polypropylene and ethanol are used as the building blocks in a multitude of sectors, in the manufacture of everyday household essentials - being transformed into bottles, cabling and insulation, food packaging as well as being extensively used in the pharmaceutical industry.
The KG plant produces ethylene, one of the most widely used chemical (raw material) feedstocks used in the sector. It is converted into a myriad of end user products from medical applications that help people stay healthy (blister packs for tablets, and syringes); plastic piping delivering clean water and gas to homes and communities (and removing waste too) and then there are also components for vehicles, making them safer and lighter, reducing fuel consumption.
The £34m Scottish Industrial Energy Transformation Fund (SIETF) will support Scottish manufacturers with high energy use to transition to a low carbon future and to reduce energy costs and emissions through increased energy efficiency and deeper decarbonisation. Grant funding will be delivered from 2021 for the following five years.
The fund will improve the international competitiveness of many companies whilst protecting jobs. The Fund targets industrial processes, helping industry to cut energy bills by investing in more efficient technologies or reduce emissions by bringing down the costs and risks associated with investing in decarbonisation technologies.
Funding is allocated through a competitive process aimed at supporting the highest quality bids. The fund is open to a broad range of industrial manufacturing sectors and will support applicants both within and outside of industrial clusters. Decisions on funding awards are weighted towards energy and/or carbon savings, therefore it is primarily aimed at businesses with high energy use.
David East Communications Manager (INEOS O&P UK, INEOS FPS and Petroineos)
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