Norwegian-based Vergia and Four Zeros Energy said they would work on developing and financing green hydrogen and derivatives projects across the UK, starting in the Southwest.
The venture’s first project will be the St Austell Green Hydrogen Project in Cornwall, which plans to install a 20MW electrolyser to produce around 2,000 tonnes of green hydrogen per year, replacing natural gas used in local mining and mineral extraction.
The project was shortlisted in April for subsidies under the UK Government’s second Hydrogen Allocation Round (HAR 2), which supports up to 875MW of new electrolysis capacity as part of its broader 10GW hydrogen production target.
A local low-pressure storage vessel and pipeline network is expected to be used for transporting the hydrogen to nearby industrial sites.
With Four Zeros targeting final investment decision on the project in 2026, ahead of starting operations in 2028, Vergia will provide funding through equity in the developments.
The developer has not publicly released plans for future projects, but says it has a pipeline of 55MW of production.
Four Zeros co-founder and Director Murray Davies said the partnership would provide the “technical depth” and “financial strength” to support the commercial rollout of UK green hydrogen projects.
“Together we aim to unlock new investment, create skilled regional employment and enhance the country’s low-carbon energy security,” he added.
Vergia was acquired by Swiss Life in 2024 to focus investments on Power-to-X developments.
“Combining Four Zeros Energy’s local development expertise with our long-term infrastructure capital will enable us to advance a pipeline of bankable projects that contribute meaningfully to the decarbonisation of hard-to-abate sectors in the UK,” said Vergia Chair, and Head of Renewable Energy Infrastructure at Swiss Life Asset Managers, Marc Schürch.
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