Using a 10-megawatt electrolysis unit from Plug Power, MOL’s plant, which it said will be one of Europe’s largest such facilities, will be able to produce approximately 1,600 t/y of carbon-neutral green hydrogen, removing up to 25,000 t of CO₂ by displacing the existing natural-gas based process.

MOL said as this process represents one-sixth of the group’s CO₂ emissions, the investment supports its carbon neutrality goals and will also contribute to energy independence for the region.

Once operational in 2023, MOL will use the hydrogen in fuel production at its Danube refinery, lowering the carbon outputs from both the technology and the final product.

“We are convinced that hydrogen is not only one of the most important energy carriers of the already ongoing energy transition, but it will be an essential factor in the new, carbon-neutral energy system as well,” said MOL executive vice president of downstream Gabriel Szabó.

The Hungarian firm plans to invest a total of €1 billion in the low-carbon circular economy through 2025. MOL intends to reduce the carbon footprint of its operations by 30% by 2030 and will spend 50% of investment expenditures on sustainable projects. It aims to implement a carbon-neutral operation by 2050.

Author: Elaine Burridge, Freelance Journalist