HydraB and Armstrong Capital Management have entered into a joint venture to launch HyGen Energy Holdings Limited. The new company will build, own and operate commercial scale hydrogen production facilities across the UK and Ireland. As part of the joint venture agreement, all of the planning and development activities will be provided by Renewable Connections Developments, one of the UK’s leading renewable energy developers.
It is anticipated that the first hydrogen production facilities will be operational within the next couple of years, securing HyGen’s ambition of becoming one of the UK’s leading providers of low carbon hydrogen.
Jo Bamford, the owner of HydraB, bought Northern Ireland bus manufacturer Wrightbus through the Bamford Bus Company Limited. He has won contracts and supplied the world’s first hydrogen double-decker to London, Belfast, Birmingham, Dublin and Aberdeen. He is Executive Chairman of Ryze Hydrogen, which has existing contracts with Transport for London to provide hydrogen for their bus fleets.
Jo Bamford said: “Following the culmination of many months of discussion with the teams at Armstrong and Renewable Connections, the creation of HyGen Energy is a natural and exciting next step. With our combined expertise in development, technology, funding and manufacturing, we have a unique opportunity to deploy commercial-scale, low-carbon hydrogen at a cost not seen before in the UK. We will be building the hydrogen production facilities that will eventually support commercial fleet vehicles across the UK and Northern Ireland, providing a cradle to grave service.”
Andrew Newman, Head of Development and co-founder of Armstrong, is joining the new company as its Managing Director. He said: “Hydrogen is difficult to store, so we needed a business model where supply and demand were able to grow together; working with Jo Bamford’s hydrogen businesses gives us a unique opportunity to achieve this. Electrolytic hydrogen creates the opportunity to rewrite business plans, not just for the transportation industry but for renewable energy and storage projects for the next generation.”
He added: “For the last few decades people have talked about the hydrogen economy. In reality, there are currently very few viable hydrogen projects happening at a commercial scale, and those that do exist have often been grant-funded with little private capital in them. HyGen is being launched at the same time as the hydrogen economy starts in earnest, with commercial agreements enabling the deployment of largescale hydrogen projects.”
HyGen is expecting to announce a number of exciting relationships and developments as it accelerates and implements its business plans over the coming months.
NOTES TO EDITORS
For further information, please contact Dave Burrows, Head of PR, Rous + : Mobile: 07890993565 Email: firstname.lastname@example.org or Rebecca Neal, Head of Communications at Renewable Connections: Mobile: 07860510442 Email: email@example.com)
HydraB is the group holding company of a number of ‘Road to Zero’ companies inspired by Jo Bamford. These include: Wrightbus (world’s first Hydrogen powered double decker bus and world’s most efficient double decker battery electric bus); Hygen Energy, a producer of low carbon hydrogen, Ryze Hydrogen which distributes hydrogen to fleet users and industrial customers, and Fuze Finance which offers innovative leasing/TCO contracts for zero-emission vehicle fleets
About Armstrong Capital Management
Armstrong Capital Management Limited (“Armstrong”) is one of the leading private investment managers in UK renewables. The Armstrong management team launched the first dedicated fund focused on UK renewables, and today manages, on behalf of its clients, a large portfolio of solar and wind assets across the UK. Armstrong has also managed investments in a range of other sectors, including renewable technologies, waste recycling, and property. www.armstrongcapital.co.uk
About Renewable Connections
Renewable Connections is one of the UK’s leading solar and battery developers. We deliver highly innovative renewable energy developments across the UK and take a responsible, community-led approach to the planning and design of our projects.
With an outstanding success record of achieving project consents, the Renewable Connections team are unlocking hundreds of megawatts of solar and storage, increasing energy independence in the UK, and supporting the Government to reach its net zero targets. We are committed to developing high quality projects which see benefits delivered to local residents and the natural environment.
Renewable Connections was established by Armstrong Capital Management. For more information on our projects go to www.renewableconnections.co.uk