Strategic Agreement to Align UK’s First Hydrogen Network.
H2 Green, the hydrogen hub developer focused on building the UK’s first hydrogen production, storage, wholesale and retail network, and Element 2, the UK-based venture capital backed hydrogen fuel retailer, are delighted to announce a strategic agreement.
The strategic agreement, which is aimed at accelerating the creation of the first UK-wide hydrogen network, will allow H2 Green and Element 2 to align production and distribution strategies for their respective land portfolios. By supplying Element 2 with green hydrogen, Element 2 can start nationwide deployment of 800 hydrogen refuelling pumps by 2027 and 2000 by 2030.
The two companies will utilise state of the art location analytics created by H2 Green’s parent company, Getech Group PLC, in addition to the significant data gathered by Element 2 on customer habits, to analyse efficiencies for the benefit of both Companies customers.
The goal of the agreement between the two companies is the creation of an efficient and reliable hydrogen network across England, Scotland, and Wales which will lead to widespread adoption of hydrogen mobility technologies.
Luke Johnson, Managing Director of H2Green commented:
“At H2 Green, we believe that the development of hydrogen hubs will be a crucial component of our cities plans to decarbonise and meet their net zero targets. Collaboration and efficient deployment are however absolutely critical in making this a reality.
As such, aligning our generation and deployment strategy with a Company whose strategy neatly dovetails with our own, helps us deploy the UK’s first hydrogen network faster and more efficiently. This will ultimately drive costs down for consumers and businesses, taking us one step closer to making the hydrogen revolution happen.”
Element 2 CEO, Tim Harper, said:
“Element 2 will unlock the UK’s hydrogen economy by providing essential infrastructure so hydrogen becomes a sustainable fuel. The ability to use hydrogen as a major fuel will reduce carbon emissions and help the UK reach its target of net zero emissions by 2050.
Element 2 is already ahead of plan and thrilled to partner with H2 Green for up to 30 hydrogen refuelling stations utilising green hydrogen at H2 Green sites. This is an excellent foundation from which we will deploy 800 pumps by 2027, and 2000 by 2030, to serve emerging energy needs.
Our refuelling network will be ready for demand. We look forward to identifying and deploying our pilot site and developing a nationwide roll out program to support the government’s hydrogen agenda and green job creation targets.”
Further Information on the Strategic Agreement:
Element 2 is a UK-based venture capital backed deployer of Hydrogen Refuelling Stations (“HRS”) and a retailer of hydrogen fuel to the consumer. The firm is investing in prime locations in the North of England, Scotland, and Ireland, with plans to deploy over 800 pumps onto the UK network by 2027 and 2000 by 2030. Under the terms of the agreement, H2Green will supply green hydrogen to their HRS from the green hydrogen hubs that are to be developed by H2Green.
H2Green is currently working with land asset owners to screen hundreds of locations across the United Kingdom for their suitability to become city hydrogen hubs. It is their business plan to develop green hydrogen production, storage, and distribution at each suitable location. The agreement is for Element 2 to become an off-take partner; Element 2 has an option to co-locate hydrogen refuelling stations at the H2Green’s city hydrogen hubs, and H2Green has the option to collocate hydrogen hubs, when practical, near to Element 2’s HRS.
The 12 month agreement is in the form of an LOI that will see the two companies review each other’s current and future proposed locations and develop an implementation road map that will include the deployment of an initial demonstration project. During the period, the companies are expected to conclude a long-term co-development agreement.
About H2 Green Limited
H2 Green is a developer and operator of green hydrogen hubs that help towns and cities decarbonise and meet their net zero goals.
H2 Green Limited is a subsidiary of AIM listed Getech plc (AIM:GTC) that helps countries and companies to manage their natural resources and energy infrastructure to deliver a successful energy transition to a net-zero economy. They use their extensive geoscience, geotechnical and geospatial technology, and skills to locate sustainable energy resources, de-risk and optimise their development and long-term economic production. Their focus is on scalable projects that can deliver meaningful impact across industries including oil and gas, mining of battery metals, geothermal, green, and blue hydrogen and smart cities.
For Element 2:
Oliver Matuszynski, Williams Nicolson
M: +44 (0) 7908 628 832
For H2 Green:
James Crothers, Camarco
M: +44 (0) 7495 067 684