MOL to build green hydrogen plant

Hungarian oil and gas company MOL announced plans to build a EUR 22 million ($23.14 million) green hydrogen plant at its refinery in Százhalombatta, south of the capital.

The hydrogen plant, fuelled with electricity produced from renewable resources, will turn out 1,600 tonnes of hydrogen a year, making it one of Europe’s biggest green hydrogen production facilities. It will reduce MOL’s CO2 emissions by 25,000 tonnes.

The company will use US company Plug Power’s technology at the plant which will start operating in 2023.

MOL is spending USD 1 billion by 2025 on new, low-carbon sustainable projects that will make it a key player in the region’s circular economy.