Element 2, BayoTech to collaborate on UK hydrogen projects
BayoTech has signed a memorandum of understanding with Element 2, a UK-based venture capital-backed deployer of hydrogen refuelling stations and hydrogen fuel retailer.
Under the agreement, the two firms will collaborate on several projects linking hydrogen production to end-users. Initially focused on the commercial fleet transport industry, the companies will reduce hydrogen carbon intensity, the distance the gas is transported, and the overall complexity of hydrogen as a transport fuel.
BayoTech and Element 2 are in the final stages of negotiation for several renewable hydrogen projects and have expressed interest in pursuing a further relationship to develop additional projects in the UK and Europe.
“The UK is evolving quickly on its approach to the hydrogen industry and BayoTech plans on playing its part by investing significant capital to develop plants, create jobs, create a tax base and help meet the UK carbon reduction goals,” said Mo Vargas, president and CEO of BayoTech.
Steve Jones, the company’s senior vice president, added: “We are very focused on delivering low- to negative-carbon solutions by working with our local partners in the green biogas and carbon capture space. In addition, we are growing our local team to ensure we execute on the plan.”
Element 2’s CEO, Tim Harper, said the new partnership with BayoTech is an “integral key” to unlocking the UK’s hydrogen economy.
“This relationship is further evidence of Element 2’s continuation to progress ahead of the plan,” said Harper.
“Element 2’s refuelling network will be ready to meet demand as it transpires, reducing carbon emissions and helping the UK reach its target of net-zero emissions by 2050. We can offer a unique perspective on the infrastructure of refuelling and we will be ready to fuel the UK transport sector with hydrogen as soon as it is needed.”
Under the agreement, the two firms will collaborate on several projects linking hydrogen production to end-users. Initially focused on the commercial fleet transport industry, the companies will reduce hydrogen carbon intensity, the distance the gas is transported, and the overall complexity of hydrogen as a transport fuel.
BayoTech and Element 2 are in the final stages of negotiation for several renewable hydrogen projects and have expressed interest in pursuing a further relationship to develop additional projects in the UK and Europe.
“The UK is evolving quickly on its approach to the hydrogen industry and BayoTech plans on playing its part by investing significant capital to develop plants, create jobs, create a tax base and help meet the UK carbon reduction goals,” said Mo Vargas, president and CEO of BayoTech.
Steve Jones, the company’s senior vice president, added: “We are very focused on delivering low- to negative-carbon solutions by working with our local partners in the green biogas and carbon capture space. In addition, we are growing our local team to ensure we execute on the plan.”
Element 2’s CEO, Tim Harper, said the new partnership with BayoTech is an “integral key” to unlocking the UK’s hydrogen economy.
“This relationship is further evidence of Element 2’s continuation to progress ahead of the plan,” said Harper.
“Element 2’s refuelling network will be ready to meet demand as it transpires, reducing carbon emissions and helping the UK reach its target of net-zero emissions by 2050. We can offer a unique perspective on the infrastructure of refuelling and we will be ready to fuel the UK transport sector with hydrogen as soon as it is needed.”
