TIDMGTC
RNS Number : 3099S
GETECH Group plc
15 November 2021
15 November 2021
Getech Group plc
("Getech" or the "Company")
Agreement to Develop Clean Energy Hub for Shoreham Port,
Sussex
Getech, the g eoscience and geospatial technology provider and
data-led energy asset developer , is pleased to announce that its
wholly owned hydrogen subsidiary, H2 Green, has signed a
Collaboration Agreement (the "Agreement") with Shoreham Port.
The Agreement grants H2 Green exclusive rights for the
development of all port-based hydrogen, ammonia, and new onshore
wind and solar power generation capacity at the Port of Shoreham,
West Sussex.
Highlights:
-- H2 Green granted a two-year legally binding exclusive right
to develop a renewable energy hub (the "Hub") at the Port of
Shoreham, West Sussex.
-- Under plans submitted by H2 Green to Shoreham Port, the Hub
will initially focus on the provision of green hydrogen and
renewable electricity to the Port's fleet of 39 heavy forklift
trucks and 12 heavy goods vehicles.
o Green Hydrogen will be sourced by a scalable green hydrogen
production, storage and refuelling facility - the economics of
which will be optimised by its integration with new solar and wind
electricity generation capacity.
-- The Hub will then be expanded to facilitate the
decarbonisation of more than 800 heavy goods vehicles that enter
Shoreham Port daily, and to provide fuel to port and coastal marine
vessels.
-- To deliver a third phase of hydrogen supply growth, H2 Green
plans an ammonia importation facility. Ammonia is a medium for
international hydrogen transport that can connect Shoreham to
large-scale, low-cost, green energy projects worldwide.
-- H2 Green anticipate that development of the Hub will remove
45,000 tonnes of CO2 emissions each year from the Port's fleet of
trucks and HGVs and be a catalyst for the wider region's transport
decarbonisation.
In addition to the Port's fuel and energy demand, Industries
operating in and adjacent to the Port, including gas-fired power
generation, timber & steel handling and water treatment
projects, are also potential customers for the Hub's hydrogen,
renewable power, and the by-products of fuel generation, such as
oxygen and heat.
H2 Green and Shoreham Port will now complete detailed planning
and scheduling for each element of the renewable energy hub.
Shoreham Port has committed in principle to convert all suitable
and commercially viable port vehicles to utilise both hydrogen and
renewable energy produced by the Hub. To service additional demand
from regional trucking, marine and local industrial customers, H2
Green estimates the hydrogen facility will, at full capacity exceed
c.8 tonnes per day.
Following finalisation of engineering designs and receipt of
planning approvals, the parties expect to move to a structured
series of Final Investment Decisions in H2 2022.
A video on the Shoreham Port Green Energy Hub project can be
viewed at: https://youtu.be/bklxFTFXogw
Jonathan Copus, CEO of Getech plc said:
"H2 Green has agreed with Shoreham Port a bold vision that will
place the Port's operations at the centre of both national and
international decarbonisation innovation.
"By bringing together the building blocks of green hydrogen
production, renewable power investment, ammonia import, and
mobilising a wide range of stakeholders, H2 Green will provide the
most flexible, reliable, and cost-effective green energy solution
for the Port, its customers and the wider region. It also links
Shoreham to international marine decarbonisation initiatives - the
COP26 agreement encouraging the prioritisation of green shipping
corridor projects that can accelerate the decarbonisation of both
transport and supply chains.
H2 Green's Shoreham green energy development plan showcases a
scalable path for the decarbonisation of large-volume customers in
marine and land transport settings. Getech intends to replicate
this model across the UK and internationally.
"This is an exciting time for Getech shareholders as more
businesses, industries and councils look to develop innovative new
green hydrogen hubs, which Getech can support in developing.
"Our project portfolio is rapidly evolving, and Getech's
activities are strongly aligned with the Government's hydrogen
strategy and green job creation initiatives. We look forward to
providing shareholders with further updates on our business
pipeline."
Tom Willis, CEO of the Shoreham Port said:
"We are delighted to have selected H2 Green to develop a green
energy hub at Shoreham Port. The project has the potential to make
a significant contribution to the net zero ambitions across South
East England through the local generation of hydrogen from
renewable energy.
"The hydrogen production process is quiet, odourless and the
clean fuel produced will reduce emissions across the region as
transport operators convert large fleets to run on it. As a
community organisation we intend to work with all our stakeholders
to make this new stage of Shoreham Port's development a
success."
For further information, please contact:
Getech Group plc Tel: 0113 322 2200
Jonathan Copus, Chief Executive
Cenkos Securities plc
Neil McDonald / Pete Lynch (Corporate Finance)
Michael Johnson / Julian Morse (Sales) Tel: 0207 397 8900
Camarco
James Crothers / Toby Strong Tel: 020 3781 8331
This announcement contains inside information.
Notes to editors:
Getech (AIM: GTC) helps countries and companies to manage their
natural resources and energy infrastructure to assist in the
delivery of a successful energy transition to a net-zero economy.
We use our extensive geoscience, geotechnical and geospatial
technology, and skills to locate sustainable energy resources,
de-risk and optimise their development and long-term economic
production. Our focus is on scalable projects that can deliver
meaningful impact across industries including oil and gas, mining
of battery metals, geothermal, green & blue hydrogen, and smart
cities.
H2 Green is a developer and operator of green hydrogen hub
infrastructure. Its mission is to develop a national network of
hydrogen production, storage, and retail facilities, providing
customers with a secure supply of low-cost green hydrogen. H2
Green's data-led location analytics allows it to optimise the
positioning of hubs and minimise capital costs by repurposing
legacy infrastructure for a greener future.
H2 Green is a wholly owned subsidiary of the Getech Group.
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END
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