South Korean-based consortium Hanwha Corp. and INEOS Nitriles, part of the British multinational conglomerate INEOS, have announced their intention to collaborate on the study for a low-carbon ammonia facility with carbon sequestration in the US.
The planned capacity of the facility is expected to be more than 1 million mt/y of ammonia. A final investment decision is planned for 2026 with commercial operation expecting to commence in 2030. The final location of the plant is yet to be determined.
“Our collaboration with INEOS Nitriles is aimed at strengthening our strategic foothold in the global ammonia market and addressing the growing worldwide demand for clean ammonia solutions,” said Kiwon Yang, CEO of Hanwha. “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.”
“This project is a potentially important contributor to INEOS Nitriles’ carbon emission reduction targets in 2030 and its net zero ambitions by 2050,” said Hans Casier, CEO of INEOS Nitriles. “This project wouldbe a significant step towards a leadership position in low-carbon Acrylonitrile supply, of which ammonia with low-carbon emissions is a key raw material.”