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9 July 2021 0:30 GMT Updated 9 July 2021 0:47 GMT in London
Three subsidiaries of privately-owned Ineos have signed a provisional deal that aims to see carbon dioxide from the company s industrial assets in Scotland sent to the Acorn carbon capture and storage (CCS) project in the country s north-east by 2027.
The memorandum of understanding with Acorn s backers was agreed by Ineos Chemicals Grangemouth, Ineos FPS and Petroineos.
Ineos and Petroineos own and operate one of Scotland’s largest manufacturing sites at Grangemouth.
Since taking ownership of the facility in 2005, it has reduced CO
2 emissions by 37%, adding that, once operational, the proposed CCS system will further increase emission reductions at the site to more than 50% compared with 2005.