INEOS has announced plans to build a hydrogen manufacturing plant at its site in Grangemouth.
The move is part of its plans to reduce the carbon emissions of the site by 60% by 2030.
It is expected to save one million tonnes of carbon being released each year and follows £500 million of investment in projects to make Grangemouth low carbon.
Stuart Collings, CEO, said: “We are progressing at pace with our commitment to deliver our net zero plans.
“This will see the displacement of hydrocarbon fuels used at Grangemouth, like natural gas, with clean, low carbon hydrogen to power our processes and manufacture vital materials used across a wide range of sectors.
“The carbon dioxide from this project will be routed to the Scottish Cluster’s Acorn carbon transport and storage project, resulting in reductions of more than one million tonnes of carbon dioxide emissions each year.”