Vertex Hydrogen is delighted to announce the signing of a ‘Heads of Terms’ offtake agreement for 280+ megawatts of low carbon hydrogen with Essar Oil UK (‘EOUK’).
Vertex is proud to be helping the UK lead the development of low carbon hydrogen production. This helps solve our urgent need to drastically reduce carbon emissions in our manufacturing sector and secure and grow vital industries.
• Delivering an initial 1,000 megawatts of low carbon hydrogen capacity (enough to power a city like Liverpool)
• Capturing 1.8 million tonnes of carbon dioxide every year at full capacity (equivalent to taking 750,000 cars off the roads)
• Investing around £1 billion in the North West of the UK (and facilitating an additional £1+ billion of associated infrastructure announced by the Chancellor on Friday for acceleration in the Growth Plan 2022)
• Leading the UK hydrogen market as an integral part of the Track 1 HyNet cluster selected by the UK Government
Joe Seifert, CEO of Vertex Hydrogen said “Vertex will be one of the first to deliver large volumes of low carbon hydrogen, produced in the UK, to materially reduce emissions. Our business is driven by demand from an array of world class industries in this region and the provision of low carbon hydrogen to Essar is one of the most material so far in the energy transition sector. Partnering with initial anchor customers operating close to our hydrogen production plants is common sense as we deliver large scale production, quickly and at low cost.”
EOUK is one of the country’s vital refining and manufacturing sites and is investing in a range of energy efficiency, low-carbon energy, and carbon capture and storage initiatives to become the U.K.’s first low-carbon refinery.
Deepak Maheshwari, CEO of EOUK said “This offtake agreement, and our other initiatives, are continuing examples of us taking clear actions to deliver our strategic goals. We are proud to be a leader in the region and the UK more broadly in industrial decarbonisation.