MOL Group is a Leading Player in Creating a Green and Self-Sustaining Region

In mid-March of this year, MOL Group updated its long-term strategy SHAPE TOMORROW, according to which the company aims to make the region greener, more self-sustainable and more competitive. MOL Group ensures a smart transition with defined solutions by further strengthening the security of supply in the region, creating value from waste and shaping the future of mobility with innovative technologies. The updated strategy emphasizes renewable fuels, green hydrogen, biomethane and geothermal energy. In the coming years, the company will invest more than 4 billion dollars in green investments and aims to achieve carbon neutrality by 2050.

We believe that MOL Group will meet its goals because, in the past month, the company has opened two factories that meet the strategy’s goals. In mid-April, a green hydrogen plant was opened in Százhalombatta, which will produce as many as 1,600 tons of green hydrogen per year using electricity from renewable sources. It is the largest green hydrogen plant in Central and Eastern Europe, with a capacity of 10 Megawatts. The investment of 22 million euros will make fuel production more sustainable, and the factory will reduce carbon dioxide emissions from the Danube refinery by 25,000 tons per year.

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The new technology will gradually replace the production process based on natural gas, which currently accounts for one-sixth of MOL Group’s total carbon dioxide emissions. It will primarily use green hydrogen in its own network during fuel production. We asked MOL Group representatives to explain how they will make green hydrogen, and here is their answer:

“MOL Group has reached another milestone: from now on, we can produce green hydrogen without emitting greenhouse gases. With this technology, we achieve a reduction in emissions that is equivalent to removing around 5,500 vehicles from the road at once. Today, our new green hydrogen plant makes MOL’s industrial operations greener, but tomorrow, it will offer solutions for the entire industry and hydrogen mobility. After Sasalombata, we will transfer the technology to the other two production units in Rijeka and Bratislava to make the fuel production process more sustainable in all MOL Group refineries,” said József Molnár, CEO of MOL Group, at the opening ceremony of the new green hydrogen plant.

The second factory, more precisely, the polyol complex, was opened in mid-May in Tiszaújváros. The value of this investment is as much as 1.3 billion euros, and the complex has a capacity of about 200,000 tons of polyol per year. With the opening of the polyol factory, MOL Group became the only entity in Hungary and Central and Eastern Europe that covers the entire value chain, from oil refining to the production of polyol (a plastic raw material with an extensive application). Polyol is one of the most sought-after plastic raw materials, used in a wide range of industries from automotive manufacturing to clothing and insulation.

Polyurethane is made from polyols and is the base material for many consumer durables that everyone encounters daily. The plant in Tiszaújváros will produce polyol using one of the most efficient and environmentally friendly methods available today. According to MOL’s calculations, the factory will annually contribute nearly 150 million euros to the financial results of the MOL Group and will provide long-term employment for almost 300 people. MOL Group creates value from waste, starts a circular economy and additionally strengthens the security of supply. There is no doubt that the energy transition must be implemented, and the very ambitious goals set by the European Union must be achieved. This is in the interest of all actors on the market. MOL Group, as a leading company in the Central European industry, is doing everything it can to fulfil these goals and transform the company.

Mol Group