EET Fuels, the owner of the Stanlow oil refinery in Ellesmere Port, has successfully secured almost £500m in new financing to drive its decarbonisation efforts. The refinery, which employs around 1,500 people, is a crucial provider of road transport fuels in the UK, including diesel, petrol, and jet fuel, but it also emits 2m tonnes of CO2 annually. With ambitions to become the world's first decarbonised oil refinery, EET is investing in a £3bn hydrogen production and carbon capture hub at Stanlow as part of the HyNet hydrogen project. This initiative aims to supply hydrogen to industrial customers across the North West and reduce emissions significantly. One of the key steps in this decarbonisation plan is the construction of a hydrogen-fuelled plant at the refinery, which will power its operations. By investing £45m in a new furnace that can operate using hydrogen, EET plans to cut emissions by 95% by 2027. The 'blue hydrogen' produced at Stanlow will involve capturing and storing CO2 in depleted gas fields under Liverpool Bay, although this approach has faced criticism for potentially prolonging fossil fuel use. The recent financing of $650m (£495m) includes significant contributions from ABN AMRO, HCOB, UMTB, and an unnamed international oil company. This funding reaffirms confidence in EET's decarbonisation strategy and provides financial flexibility for its future investments. EET's management expressed satisfaction with the outcome, emphasizing that the backing of major financing partners will enable the company to proceed with its decarbonisation plans and business development with assurance.