EET Fuels' Transformation: Pioneering Hydrogen-Ready Furnace Unveiled at Stanlow Refinery
Key Ideas
- Over US$130mn invested in plant improvements, boosting capacity by 8% and supporting the UK's-first hydrogen-ready furnace installation.
- Business Improvement Plan targets US$350mn in improvements, focusing on cost reduction and operational excellence.
- Deleverage plan aims to reduce US$600mn of debt to support decarbonisation investments and strengthen the company's balance sheet.
- EET Fuels' CEO highlights the importance of stable operational performance, improved financial performance, and sustainability efforts.
EET Fuels, operating at the Stanlow site in Ellesmere Port, UK, has completed a transformative turnaround, investing over US$130mn in plant enhancements to increase capacity by approximately 8%. The highlight of this investment was the installation of a hydrogen-ready furnace, marking a significant step in the company's low carbon strategy. A Business Improvement Plan has been launched, targeting US$350mn in improvements over the next two years, with a focus on cost reduction and operational excellence. The company also plans to reduce debt by US$600mn to strengthen its balance sheet for future investments in decarbonisation. The CEO emphasizes the importance of stable operations, financial performance, and sustainability. EET Fuels' commitment to community prosperity and sustainable energy is evident in its ongoing efforts.
Topics
Investing
Sustainability
Investment
Energy Transition
Decarbonisation
Financial Performance
Refinery
Operational Excellence
Business Improvement
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