Fuelling the Hydrogen Economy in the UK

18/08/2022

Kickstarting the country’s hydrogen future, Vertex Hydrogen is designing, developing, and building the UK's first large low carbon hydrogen production plant in the North West of England.

Vertex Hydrogen is a transformative business delivering a low carbon industrial solution across North West England and North Wales. The UK’s first large low carbon hydrogen plant will sit at the heart of the HyNet North West (“HyNet”) low carbon cluster. The hydrogen produced will be utilised by a range of world class industrial businesses in the region to reduce their carbon footprint and secure and grow jobs in the largest industrial base in the UK that employs around 350,000 people. Starting in 2026, Vertex Hydrogen will generate in its first phases 1GW of hydrogen, the equivalent of energy used by a major British region such as Liverpool and around 20% of the governments 5GW CCUS enabled hydrogen by 2030. It will reduce carbon emissions by some 1.8 million tonnes annually which is almost 20% of the industrial carbon currently generated by the region.

The UK Government recognizes hydrogen as one of a handful of new, low carbon solutions that will be a critical component of the wider clean energy mix in supporting the country’s transition towards net zero. In this context, Societe Generale is proud to be acting as financial advisor to Vertex Hydrogen as the company works towards unlocking the potential of hydrogen in the UK, while also supporting the associated job creation in the region. 
 

“ We are delighted to have the top class team at Societe Generale onboard as financial advisor as we move into the delivery phase of our strategically important hydrogen production facilities that are leading the way in industrial decarbonisation. ”

Joe Seifert
CEO of Vertex Hydrogen

“ To combat climate change, renewables and electrification are key, but we need to go further and support the growth of the low carbon hydrogen market. This new low carbon hydrogen production plant at the heart of the HyNet industrial cluster will act as a key national asset in unlocking the hydrogen economy. Fully supportive of the UK Government’s Net Zero Strategy, at Societe Generale we are committed to having a positive impact and to supporting our clients do the same. ”

Cem Örekli
Director, Energy + Group at Societe Generale