The Project has been shortlisted in the UK government’s Hydrogen Allocation Round 2 (HAR2) subsidy scheme. Hynamics and Hy24 are aiming to establish a broader partnership in the United Kingdom.
The MoU marks the beginning of exclusive negotiations with Hy24, through its Clean Hydrogen Infrastructure Fund, to develop and finance a EUR 300 million hydrogen electrolytic production facility in Fawley, located in Hampshire, England.
The project aims to supply green hydrogen to the ExxonMobil petrochemical complex as part of its decarbonisation strategy. In addition, Hynamics UK and Hy24 reaffirmed their shared commitment to accelerating the deployment of low-carbon hydrogen across the UK’s industrial sectors. They also expressed their intention to collaborate on a broader range of projects developed by Hynamics UK, aligning with the UK government’s ambitions for clean energy development.
The project will consist of a 120 MW electrolyser participating in the decarbonisation of this national strategic infrastructure. The ExxonMobil Fawley refinery is the largest complex of its kind in the UK, with 1 in 4 vehicles using Fawley road fuels and providing more than 20 percent of the UK’s aviation fuel, including a quarter of Heathrow’s need. This ambitious first-of-a-kind opportunity aims to reduce up to 100 000 tons/year of CO2 emissions by replacing heavy fuel oil and grey hydrogen with low-carbon hydrogen.
Commenting on the development, Pierre de Raphélis-Soissan, CEO of Hynamics UK, said, “I am delighted with this partnership with Hy24, which marks a new stage in the development of Hynamics’ projects in the United Kingdom. This agreement is a continuation of the relationship of trust that has been built up over several years. Our MoU is in line with the Clean Industrial Strategy presented by the British Government in June and is a testimony to the potential for cooperation between industrial and financial players across the Channel.”
Amir Sharifi, Comex Member and Strategy Lead at Hy24, Head of UK, Southern Europe and MENA remarked, “The policy landscape in the UK is providing the certainty and clarity needed to enable decarbonisation projects at the right scale and pace. We see this as a very positive signal and a strong opportunity for Hy24 to expand into the UK for the first time, alongside partners who are deeply committed to the energy transition.”
He further added, “The reality is that leadership positions across the hydrogen value chain are being shaped now- and the UK has shown remarkable consistency and determination in this regard. In this context, Hynamics UK stands out as one of the most advanced players, and we are pleased to solidify our partnership with them to help accelerate the development of the UK’s hydrogen economy.”
