Global hydrogen business developer United H2 Limited (UHL), is planning to expand its presence in the UK and Europe, with a target spend of £250m over the next year and a focus on the hydrogen mobility sector.
UHL is the world’s largest hydrogen conglomerate with a significant position in 37 hydrogen companies and projects, with interests in 16 countries across the world, covering all sections of the market from production through to end-use. It collaborates with technical partners to establish companies focused on developing technology for the hydrogen sector.
The group is in the process of setting up joint ventures with technical partners to deliver hydrogen trucks, generators, hydrogen injection kits, and vans to the UK and EU markets.
In addition H2X Global, which is part of UHL, is planning to raise up to £100m by listing on the London Stock Exchange next year. H2X Global produces hydrogen vans, pick-ups, and buses and recently secured US$57m (£45.4m) in funding.
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UHL is also finalising a joint venture with a technology partner in Europe, which will see a network of refuelling stations developed across the region. Other renewable energy companies backed by UHL include H2X, Infinite Green, Titan Hydrogen, Aviation H2, H2I Technology, and Poseidon Marine H2.
Richard Allen, UHL chairman, said: “UHL plans for the United Kingdom to become a key element to our operations due to the great commercial opportunities in the region and its close proximity to Europe and the United States.
“For this reason, we plan to open an office in London and are heading to the United Kingdom in October to engage investors and other stakeholders.
"UHL is actively seeking technical partners in the UK and Europe to accelerate its growth in these regions. Over the next 12 months, the group is targeting to invest £250m into these regions.”