Element 2 is rolling out a Â£ 1 billion investment program to make the company the UK‘s leading hydrogen retailer.
The private equity-backed group has a 10-year plan to roll out a hydrogen refueling network that will install 2,000 H2 pumps across the UK by 2030.
Element 2 aims to establish a supply chain and customer base in Aberdeen, Dundee and Glasgow, and is engaged in discussions with several local authorities, transport operators and fleet owners to formalize partnerships.
Due to its volume, hydrogen fuel is not well suited for short-haul passenger vehicles, but the renewable energy source is ideal for vehicles over 3.5 tonnes, such as transport trucks. and bus and coach fleets, as well as vehicles requiring high availability such as gritters and emergency vehicles.
Led by serial contractor and former European Space Agency engineer Tim Harper, alongside fuel cell expert Brendan Bilton, Element 2 plans to install more than 250 pumps in Scotland over the next six years , which will bring that number to 300 by 2030.
Managing Director Tim Harper said: âBy working with technology developers, suppliers, consultants and vehicle manufacturers, and forging strong relationships with boards, transport operators and fleet owners, we will identify and develop refueling sites, and support vehicle conversions to accelerate net zero strategies.
âScotland was one of the early adopters of hydrogen in transport, with over Â£ 40million invested or earmarked over the past five years on groundbreaking hydrogen transport projects.
“Element 2 can play an important role in supporting the goal of the Scottish Government’s Hydrogen Policy Statement to make hydrogen a key component of Scotland’s decarbonization plans.”
Element 2’s strategy includes leasing land, negotiating profit-sharing agreements, and installing proven technologies to build hydrogen refueling infrastructure.
Development Director Hagan added, âWe are technology independent, which means we will install and use the latest proven technology, but we are not tied to or invested in any particular technology brand.
“We are currently negotiating with local authorities and other partners to locate the best land and locations for our refueling stations and to build this critical infrastructure which will be a vital part of powering the UK transport sector.”
In February, Element 2 appointed former Liberal Democrat leader and former Shell chief economist Sir Vince Cable as non-executive director.
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