Page 155 - CW E-Magazine (8-7-2025)

News from Abroad

next generation pressurised alkaline cost-effective production of green As part of its international growth,
electrolyser technologies. The invest- hydrogen from low-carbon energy sources – John Cockerill Hydrogen has started
ment by SFPIM and Wallonie Entre- offering a substitute for traditional large-scale production of electroly-
prendre further solidifies the Group’s grey hydrogen produced from fossil sers in Europe at its plants in Aspach
Belgian foundation,” the company fuels. Together with its partners, the (France) and Seraing (Belgium) for
informed. John Cockerill Group is making signi- leading European clients. In India, John
ficant investments in its subsidiary, Cockerill Hydrogen is working with its
Commenting on the development, which is one of the market leaders. The partner AM Green to deliver electroly-
François Michel, CEO of John Cockerill, fundraising achieved by John Cockerill sers for India’s largest green ammonia
said, “Numerous reports from recog- Hydrogen demonstrates the strength project. The Group is working on a
nized institutions confirm the potential of our strategic plan and reinforces our focused portfolio of projects around
of pressurised alkaline electrolysers as ambition to remain at the forefront of the world and plans to serve them from
a proven technology for large-scale, this growing global sector.” its global manufacturing centres.

Solvay and Enagás to develop hydrogen storage

hub in Spain

Belgian chemicals firm, Solvay, tise in energy transport and hydrogen industry’s strategic role in enabling
and Spanish energy company, Enagás, infrastructure to integrate this capacity clean energy solutions,” said Etienne
have signed an agreement to develop into Spain’s future energy system. Galan, President of Solvay’s Soda Ash
a hydrogen storage hub in Polanco, and Derivatives business.
Cantabria, Spain. The caverns will provide a safe, flexi-
ble, and scalable solution for storing The project, developed in coordina-
The project will leverage Solvay’s renewable hydrogen – supporting the tion with local stakeholders, strengthens
expertise in developing salt caverns in- network stability and helping address Solvay’s position as a leading provider
frastructure – originally created for soda renewable electricity intermittency. of salt cavern infrastructure in Europe –
ash production operations and repur- building on its legacy of over
posed into storage – under the coordina- “This collaboration with Enagás 100 caverns in Germany and now
tion of Enagás, which brings its exper- underscores the European chemical expanding into Spain.

SK Innovation to take complete control of lubricants

arm, SK Enmove

South Korean energy and chemi- to this, on July 2, it will acquire all 12- However, as the possibility of contro-
cals firm, SK Innovation, will invest million shares held by the financial versy over potential harm to parent
approximately 850-bn won ($625-mn) investor (FI) Eco Solution Holdings in company shareholders’ rights due to
to acquire a 30% stake in its lubricant an off-market transaction, thereby mak- dual listing increased, the likelihood
subsidiary SK Enmove, making it a ing it a 100% subsidiary. Eco Solution of the IPO falling through within the
100% subsidiary of SK Innovation. Holdings is a special purpose company promised period grew. If the IPO fails,
(SPC) established by IMM Credit SK Innovation would have to provide
The initial public offering (IPO) of Solution (ICS) for equity investment in financial compensation to the FI. As
SK Enmove, which was planned to be SK Enmove. such, it is reported that the company
pursued by next year, has been tempo- is considering scenarios such as
rarily suspended. Previously, in the process of abandoning the listing plan altogether,
attracting investment for SK Enmove buying back all FI-held shares, and
Currently, SK Innovation holds a in 2021, SK Innovation had set the potentially merging with an internal
70% stake in SK Enmove. In addition condition of going public by next year. affiliate.

Chemical Weekly July 8, 2025 155

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