Essar sets up Vertex Hydrogen to help drive energy transition in the UK

Essar group on Wednesday announced a new joint venture with Progressive Energy to build the UK’s largest hydrogen hub at the Stanlow manufacturing complex at an investment of 1 billion pounds.

“Led by Essar as the majority shareholder, Vertex Hydrogen has been formed to provide the catalyst for development of a hydrogen economy across North West England and North Wales, as a central part of the HyNet decarbonisation cluster,” it said in a statement.

Essar Oil UK holds 90 per cent stake in Vertex Hydrogen, while Progressive Energy Ltd has the remaining 10 per cent.

Vertex will deliver the UK’s first low carbon hydrogen production plant to lead the country’s hydrogen production economy.