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Getech Group PLC and SGN agree first hydrogen hub site in Inverness

The site will be built in Inverness and is expected to scale up to 8 tonnes of hydrogen per day

Getech Group PLC (AIM:GTC) has announced that its subsidiary, H2 Green, has signed a legally binding agreement to develop a major green hydrogen production, storage, and distribution facility in the north of the Scottish mainland.

Building on the deal struck with SGN Commercial Services in January, the pair’s first concrete development agreement will be to develop a green hydrogen hub in Inverness, which will have a capacity that is expected to rise to up to eight tonnes of hydrogen per day.

In addition, Getech has agreed with SGN to progress three further UK sites to an advanced stage of evaluation and the parties are discussing the addition of several, recently identified sites to the joint review list.

Ownership of the Inverness site will be transferred from SGN to an operating company owned by H2 Green, with SGN set to prepare the site for development, including removing the gas holder currently situated there.

The two companies will now move into a two-year period that is extendable to three years, during which H2 Green will lead the project, including detailed engineering design, with the parties both advancing the relevant consents, permits and licenses.

Jonathan Copus, chief executive of Getech plc said, “This is an exciting time for Getech as we look ahead to further hydrogen hub development opportunities being identified.”

Marcus Hunt, director commercial services and investments at SGN added that “working with H2 Green to create a green hydrogen hub in Inverness is an exciting opportunity which supports the country’s net zero ambition whilst boosting the developing hydrogen economy.”

Read More: Getech Group PLC and SGN agree first hydrogen hub site in Inverness

2021-12-14 06:02:00

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