Powerhouse Energy Group Signs Exclusive Hydrogen Supply Agreement for Ballymena Fuel Cell Project
Key Ideas
- Powerhouse Energy to provide 99.99% pure hydrogen for BSH's H2P project in Ballymena at a competitive price.
- The project, supported by the UK government, aims to address challenges in scaling hydrogen infrastructure.
- Powerhouse will also collaborate with BSH on hydrogen-powered projects in the Mid and East Antrim Council area.
- The agreement is hailed as a significant milestone in unlocking hydrogen offtake for the Ballymena project.
Powerhouse Energy Group PLC has recently signed a letter of intent with BS Holdings Ltd to be the exclusive hydrogen supplier for a planned fuel cell project in Ballymena, Northern Ireland. The agreement entails Powerhouse providing hydrogen at 99.99% purity for BSH's H2P project, supported by the UK Department for Energy Security & Net Zero. The pricing is set to be competitive, below that of green hydrogen and the current UK contracts-for-difference strike price. This collaboration is crucial for scaling hydrogen infrastructure, with Powerhouse planning to explore the use of MEGC trailers for fuel delivery as well. In addition to the Ballymena endeavor, Powerhouse will assist BSH in other hydrogen-powered projects in the Mid and East Antrim Council area, subject to production constraints at its facility. BSH, on the other hand, will facilitate Powerhouse in securing additional commercial clients and accessing future developments in Northern Ireland and the wider UK. CEO Paul Emmitt sees this agreement as groundbreaking and vital in advancing hydrogen offtake for the Ballymena project. Following this announcement, Powerhouse Energy's shares surged by 11% in London.