The Hungarian company Mol will build one of the largest plants in Europe to produce environmentally friendly green hydrogen in the city of Sazhalombatta.
An investment of 22 million euros will allow the company to produce 1,600 tons of green hydrogen per year using electricity from renewable sources, reducing carbon dioxide emissions by 25,000 tons.
The project will be implemented with the help of Plug Power, and the plant will replace part of the current natural gas-based production process.
The technology accounts for one-sixth of the company’s carbon footprint, and the new technology will help achieve its carbon-neutral goals.
The green hydrogen produced at the plant, which will be commissioned in 2023, will be used by Mol in its own hydrogen network at the Danube refinery for fuel production.
Greenhouse gas emissions will be completely absent from the production of sustainable hydrogen: Plug Power equipment uses electricity from a renewable source to split water into hydrogen and oxygen.
Thus, no by-products are formed that could have a negative impact on the environment, and when producing 1 ton of hydrogen, the plant will also create 8-9 tons of pure oxygen and save almost 10,000 tons of natural gas.
Green hydrogen production is an integral part of the Mol Group’s renewed “Shape tomorrow 2030+” strategy focused on sustainable development, which is fully in line with the European “Green Pact” and foresees the company’s investment of a total of $ 1 billion in a low-carbon, circular economy by 2025 .
As part of this strategy, Mol will reduce its carbon footprint by 30% by 2030 and direct 50% of its investment spending to sustainable projects. The company has said it aims to be carbon neutral by 2050.