The collaborating companies, Hanwha and INEOS, have created a plan which will see them work together on a study for a low-carbon ammonia facility with CCS. A huge benefit of this facility is that it will have a capacity of over one million tonnes every year.

It has already been agreed between the Head of Terms for Hanwha and the Head of Terms for INEOS, that the companies will focus on exploring the feasibility of this facility together. They will look to determine whether this facility would make it possible to meet the growing global demand for ammonia with low-carbon emissions.

The next step for this project, will be the final investment decision, which is currently planned for 2026. Despite the fact that the precise location of the plant has not yet been confirmed, it is hoped that the plant will be commercially operational by 2030.

CEO of Hanwha Corporation, Kiwon Yang, commented, "Our collaboration with INEOS Nitrites is aimed at strengthening our strategic foothold in the global ammonia market and addressing the growing worldwide demand for clean ammonia solutions. The production of industrial materials using clean ammonia aligns well with our commitment to key sustainability principles. This technological advancement will be a pivotal turning point in realizing Hanwha's vision for a sustainable future." 

CEO of INEOS Nitriles, Hans Casier, mentioned, “This project is a potentially important contributor to INEOS Nitriles’ carbon emission reduction targets in 2030 and its net zero ambitions by 2050. This project would be a significant step towards a leadership position in low-carbon Acrylonitrile supply of which ammonia with low-carbon emissions is a key raw material. INEOS positions itself to find solutions to the challenges the world is facing and is looking forward to achieving a net zero economy whilst both continuing to deliver products that are essential to society and remaining competitive.”