Inovyn Rebrands, Electrifies Rafnes VCM Plant
27.10.2022 - Ineos’ vinyls business Inovyn has rebranded as Ineos Inovyn with effect from Oct. 21. At the same time, Inovyn’s hydrogen business has been renamed Ineos Hydrogen.
The company said the move “marks the beginning of a new era for Inovyn, in which the company fully capitalizes on the reputational and business benefits granted by the Ineos brand.”
Inovyn was created by Solvay and Ineos in 2015, and in2016 Ineos took full control of the company that regards itself as Europe’s leading vinyls producer and one of the top three worldwide.
Earlier this month, Inovyn announced that it will develop and install technology to electrify vinyl chloride production at its site in Rafnes, Norway, making it possible to replace fossil energy with renewable electricity.
The project, named Electra, will cut CO2 emissions at Rafnes by up to 21,000 t/y. "The project is part of a roadmap for the stepwise decarbonization of our activities in Norway in which the use of renewable hydropower will play an important role," said Nils Eirik Stamland, project director and chairman of Inovyn Norge.
In August, Enova – a Norwegian government enterprise promoting production and consumption of environmentally friendly energy – said it would support Electra with an investment of about €14 million, subject to Ineos deciding to proceed.
“The plans require the development and testing of new, innovative technology. Enova’s support is crucial for us to carry out this type of ambitious project as early movers and hence achieve our climate goals,” said Inovyn’s CEO Geir Tuft.
Ineos has approved the next phase of the project, intending to construct the electrical reactor at industrial demonstration scale.
In parallel with Electra, Inovyn said it is also “well advanced” on project Aquarius, which will see the installation of a 20-megawatt hydrogen production plant in Rafnes. Together, both projects will reduce Inovyn’s CO2 emissions in Norway by about 40%.
Author: Elaine Burridge, Freelance Journalist