£27m Capital Raised to Develop Hydrogen Production Pipeline
Raising a total of £27m, UK-based HyGen has announced funding from HyCap to begin the development of its pipeline and grow over 300MW of hydrogen projects across the UK.
As part of a joint venture between Jo Bamford-owned HydraB and Armstrong Capital Management, HyGen will build, own and operate the commercial-scale production facilities.
Since September 2022, the joint venture has already announced plans with NGN and Ryze Hydrogen to create a low-carbon hydrogen production and dispensing facility in Bradford.
HyGen’s short-term focus for the Bradford facilities is to produce hydrogen for transportation with hopes that this will benefit from RTFO subsidiaries.
Hoping to start producing hydrogen in Q1 in 2024, HyGen says it will be one of the earliest commercial clean hydrogen facilities in the UK. Additionally, 100 per cent of the hydrogen produced from the site is expected to meet the ‘low-carbon hydrogen standard.’