Essar Oil UK has been rebranded as EET Fuels, as it delivers on its plan to change into the United Kingdom’s first low carbon refinery, EET Fuels stated in an announcement.
EET Fuels is investing $1.2 billion to help industrial decarbonisation, with a goal to ship a 95% minimize in carbon emissions related to its manufacturing processes by 2030, it stated.
Deepak Maheshwari, CEO, EET Fuels in an announcement stated, “This is an exciting time for our business. We are delivering on our plan to be the world’s first low carbon process refinery and world’s first low carbon process fuel producer. It is world leading and we’re pleased that it is happening now, in the North West.”
EET Fuels is a part of Essar Energy Transition (EET), which was began in 2023 to drive the creation of the UK’s main power transition hub in North West England.Â
EET plans to take a position a complete of $3.6 billion in growing a variety of low carbon power transition initiatives over the following 5 years, of which $2.4 billion might be invested throughout its web site at Stanlow, between Liverpool and Manchester
Prashant Ruia, Chair, EET Fuels and CEO, Essar Energy Transition, stated, “EET Fuels is key part of EET, which is building Europe’s foremost integrated energy transition hub. We are playing our part to ensure that the UK delivers on its climate change goals, enhances energy security, and maintains a strong, secure manufacturing base for fuels.”
EET’s funding programme will play a serious position in accelerating the UK’s low carbon transformation, supporting the federal government’s decarbonisation coverage and creating extremely expert employment alternatives on the coronary heart of the Northern Powerhouse financial system, it added.
