SYNERGISTIC ADJACENCIES

Europe is driving global growth in energy transition investment. In 2021, Europe invested $219 billion in the energy transition, including $47 billion in Germany. Germany has an ambitious climate change target to reach climate neutrality by 2045 and wants to position itself at the forefront of global sustainable development with initiatives such as the Sustainable Finance Strategy launched in 2021. To achieve its targets, the roll-out of renewable energies is critical.

Rheinland Energy & Chemicals Park is moving to become a platform for future energy and chemicals value chains with the aim to de-fossilize the site and its customers. Products will be originated from circular and sustainable raw materials as well as renewable electricity and CO₂. The planned conversions in in the Park will save around 1 million tonnes of direct CO₂ emissions. In July 2021, the Park opened Europe's largest PEM green hydrogen electrolyser that will produce up to 1300 tonnes of green hydrogen a year. This project is accelerating hydrogen production and contributes to Europe's climate neutrality goal. The EU is targeting total investment in green hydrogen of up to 400B EUR through 2030.

REC will be Europe's first net zero emissions energy campus with an action to drive innovation and enhance sustainable value through generating financial, ecological, and social returns. The campus ecosystem will include workspace, labs, training centres, cafes, and gyms establishing itself as the place-to-be for future leaders with a desire to transform the energy industry. Collaboration and partnering with industry players and technology providers is a key success factor for the ongoing transformation on-site.

Shell will drive this process forward by entering strategic partnerships or physical integration of partners by co-location or joint ventures, where the park provides permitted plots, services, and utilities. REC and the neighbouring Park are part of Shell's commitment to become carbon neutral by 2045 or sooner.