TEP Renewables Ltd and Accretion Energies Ltd, part of the Gluon Group, have entered into a preliminary agreement to explore the creation of a joint development and production company for green hydrogen in UK, Poland and wider Central and Eastern European markets, becoming an integrated independent renewable power and hydrogen producer.
The parties are considering a listing of the joint company on Nasdaq or New York Stock Exchange in the next 12 months.
The combined expertise and track record of the companies will enable more competitive green hydrogen production designed for specific industrial offtake segments.
Renewable green hydrogen is expected to play an increasingly important role in the UK’s and EU’s energy mix, particularly with rapid expansion expected in both of these areas over the next 5-10 years, and with a stronger, combined foundation, the Group will look to participate in the North American energy transition as well.
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