UK Energy signs accord for nuclear and hydrogen production and storage
UK Energy Group PLC on Wednesday disclosed a five-year accord focused on nuclear and hydrogen power.
The London-based firm developer of energy storage infrastructure said its subsidiary UK Energy Storage Ltd had signed a five-year memorandum of understanding with UK Nuclear Ltd.
The agreement covers development of nuclear power, hydrogen, ammonia and UK Energy's underground geological energy storage.
Through this partnership, the firms will assess the potential to produce hydrogen, and subsequently ammonia, using power, heat and steam from advance and small modular reactors, UK Energy explained.
They will also consider the potential to store that hydrogen and ammonia at the site of production in UK Energy facilities, and to apply together for UK government and research support.
UK Energy Chief Executive Stephen Sanderson commented on Wednesday: "This agreement brings together highly complementary elements of the UK’s future energy system; advanced nuclear generation, low-carbon hydrogen and ammonia production, and UKEn’s planned large-scale underground (hydrogen) energy storage. The combination could provide the reliable power and steam required to produce green hydrogen, support the subsequent production of green ammonia, and enable energy to be stored at scale for future use.
"The concept is closely aligned with the Government’s ambition to promote industrial growth through investment in clean energy, domestic infrastructure and high-value supply chains. It is also consistent with the emerging UK roadmap for low-carbon ammonia. We believe this collaboration strengthens the strategic relevance of UKEn’s planned storage projects and creates a potentially important new pathway towards their development."
UK Energy shares rose 9.1% to 0.0090 pence each on Wednesday afternoon in London.
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