Essar and Progressive Energy on Wednesday (Jan 26) announced the formation of Veretex Hydrogen Limited to provide a catalyst for the development of a hydrogen economy across North West England and North Wales.

Hydrogen at the site will be produced from waste fuel gas from Essar Standlow, as well as natural gas, which will be converted by Vertex Hydrogen into hydrogen, with carbon dioxide captured and stored underground offshore in Liverpool Bay.

Led by Essar, the hydrogen hub project will be a central part of the HyNet decarbonisation cluster.

Prashant Ruia, Chairman of Essar, said, “Essar is massively committed to investing in energy transition and is building a portfolio of companies in this space.

“Vertex Hydrogen is a central component of that vision, which will be instrumental in helping create a hydrogen future for North West England and North East Wales. This will see over £1bn of investment, thereby creating jobs and supporting local communities for decades to come.”

Chris Manson-Whitton, Director at Progressive Energy, added, “As the founding developer of HyNet, we see the launch of Vertex Hydrogen as a key milestone.

“Vertex is central to unlocking the low carbon hydrogen economy, reducing emissions, creating a cleaner world for future generations whilst creating and safeguarding.”