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New agreement is an integral key to unlocking the UK’s hydrogen economy

BayoTech, an innovative on-site hydrogen production company, announced today that it has signed a Memorandum of Understanding (MOU) with Element 2, a UK-based venture capital backed deployer of Hydrogen Refuelling Stations (HRS) and a retailer of hydrogen fuel to the consumer.

Under the agreement the two companies will collaborate on a number of projects linking hydrogen production to end users. Initially focused on the commercial fleet transport industry, the collaboration will reduce hydrogen carbon intensity, the distance the gas is transported and the overall complexity of hydrogen as a transport fuel.

The two companies are in the final stages of negotiation for a number of renewable hydrogen projects and have showed mutual interest in pursuing a further relationship to serve a wider number of projects across the UK and Europe.

“The UK is evolving quickly on their approach to the hydrogen industry and BayoTech plans on playing its part by investing significant capital to develop plants, create jobs, create tax base and help meet the UK carbon reduction goals”
— Mo Vargas, President and CEO for BayoTech

“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.”
— Steve Jones, SVP BayoTech UK & Europe

“Our agreement 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 plan.

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.”
— Element 2 CEO, Tim Harper