Hynamics UK, a 100% subsidiary of Électricité de France (EDF Group) specialising in low-carbon hydrogen production, and Hy24, a global hydrogen asset manager, have entered into an exclusive partnership to finance and deliver the Fawley Green Hydrogen Project. The agreement, formalised during the French President’s state visit, includes the creation of a 120 MW electrolytic hydrogen production facility in Fawley, Hampshire, with a total investment of £300mn ($387mn).
A key project for the UK’s industrial strategy
The project, located adjacent to the Esso Fawley refinery operated by ExxonMobil, was selected in April by the UK government’s Hydrogen Allocation Round 2 (HAR2). It aims to supply green hydrogen to the largest refinery in the United Kingdom, which employs over 2,500 people and provides a quarter of the country’s road fuel needs as well as more than 20% of national aviation fuel demand, including a significant share for Heathrow Airport.
The facility could enable an annual reduction of up to 100,000 tonnes of carbon dioxide by replacing heavy fuel oil and grey hydrogen with low-carbon hydrogen. This first industrial-scale initiative forms part of the UK government’s strategy for decarbonising the industrial sector and developing new energy value chains.
Towards an expanded partnership in the UK market
The memorandum of understanding signed by Hynamics UK and Hy24 also provides for the exploration of new joint opportunities on other hydrogen projects across the United Kingdom. Hy24 will participate through its Clean Hydrogen Infrastructure Fund to support the financing and acceleration of these infrastructure deployments. Both partners highlight their intent to align with the ambitions of the clean industrial strategy published by the UK government in June.
Pierre de Raphélis-Soissan, Chief Executive Officer of Hynamics UK, stated: “This partnership with Hy24 marks a new stage in the development of our projects in the United Kingdom. Our agreement is the result of a relationship of trust established over several years.”
Amir Sharifi, Executive Committee member of Hy24 and Head of UK, said: “The British political landscape provides the clarity needed to enable large-scale decarbonisation projects at the right pace.”
An industrial sector under pressure to transform
The ExxonMobil Fawley complex, a strategic site for the UK’s fuel supply, is central to the country’s industrial decarbonisation efforts at a time of profound transformation for the energy sector. The arrival of specialised financial actors such as Hy24 reinforces the investment momentum in low-carbon hydrogen, as industry players adapt their production lines to meet carbon neutrality requirements.
According to the data provided, the commissioning of the 120 MW electrolyser could represent a first step towards expansion to other industrial sites. Discussions continue to finalise the financial and operational arrangements for the project, in line with the UK government’s priorities for clean energy.
