MOL Invests USD 1B for a Sustainable Future

In the latest episode of the MOL Talks podcast, Dávid Kapes, Head of Upstream Sustainable and New Energies, Ádám Horváth, Director of Downstream New and Sustainable Business Units, and Ambrus Halász, Head of Corporate Communications at the MOL Group, discussed the future of energy, including green aviation, sustainable fuels, and Hungary’s geothermal potential, writes Index.

MOL’s (Hungarian multinational oil and gas company) current focus on the green energy transition is driven by the need to align with the EU’s climate targets and the broader global shift towards sustainability. The company is investing heavily in both its Upstream and Downstream operations to meet these goals. Upstream is exploring geothermal energy, carbon capture and storage, and lithium extraction from water produced alongside hydrocarbons. Meanwhile, Downstream is working on recycling plastics and other waste, developing alternative fuels, and reducing carbon emissions.

MOL has committed to spending USD 1B by 2030 on initiatives that will aid the green energy transition.

This investment is part of a broader strategy to incorporate new technologies and reduce the company’s carbon footprint. One of the significant projects underway includes the development of a pilot electrolysis plant for green hydrogen. This EUR 20M investment will produce 1.6 Kilotons of hydrogen annually, potentially reducing carbon dioxide emissions from the Százhalombatta Refinery by 25 Kilotons per year—equivalent to removing 5,500 cars from the road.

The discussion also addressed whether Hungary can truly become a geothermal power and the challenges of lithium extraction.

Despite the high costs and regulatory challenges posed by the EU’s Fit for 55 package, MOL is committed to long-term sustainability. The company views this transition not only as a business necessity but also as a social responsibility, aligning with customer expectations for greener energy solutions.

While there are hurdles ahead, MOL remains focused on integrating these new technologies to achieve carbon neutrality and contribute to a more sustainable future.

Via Index; Featured Image: Facebook / MOL