Developments in the Emerging Hydrogen Economy

Time To Act

16/04/2025 07:00

RNS Number : 1567F

Time To ACT PLC

16 April 2025

 

 

16 April 2025

Time To ACT plc

("Time To ACT", "the Company" or "the Group")

 

Developments in the Emerging Hydrogen Economy

 

Time To ACT plc (AQSE: TTA), an engineering-led group focused on technology for the energy transition supply chain, welcomes recent positive developments which reinforce an intent to build a world-leading hydrogen economy in the UK.

The previous government's 2023 Hydrogen Production Delivery Roadmap targeted 10GW of low-carbon hydrogen production for the UK by 2030. 

In the field of Blue hydrogen, Essar Energy Transition ("EET") Hydrogen has recently announced that it has signed MoUs reflecting hydrogen demand equivalent to a hydrogen production capacity of ~3.3GW for Hynet's hydrogen hub at the UK's Stanlow Manufacturing Complex.  EET Hydrogen is developing the hydrogen hub initially in two phases with the first plant (HPP1) at 350MW capacity and the second (HPP2) at over 1GW of capacity, supporting an overall target capacity of over 4GW by 2030.  EET Hydrogen expects to begin construction of HPP1 in 2025, with low carbon hydrogen produced at the site by 2029.

In the field of Green hydrogen, Time To ACT sees momentum starting to rebuild after recent market hesitation and highlights two particular developments.

First, the recently unveiled Project HySpeed plans to deliver 1GW of green hydrogen capacity in the UK as a result of £6.5billion of private investment demonstrating significant industry support for hydrogen.

Second, Time To ACT's Diffusion Alloys business today announces a strategic collaboration agreement with Italy based SolydEra which underlines Diffusion Alloys' growing status as a leading corrosion resistance coater for the hydrogen industry supply-chain.

Under this agreement, Diffusion Alloys will provide advanced coating solutions that enhance the durability and performance of SolydEra's Solid Oxide Technology for both power generation (SOFC) and hydrogen production (SOE). As SolydEra expands the commercial deployment of its multi-stack SOFC and SOE solutions, it will continue to rely on Diffusion Alloys as its coater of choice and key supply chain partner, particularly as it scales up its units to 100kW and beyond.

Massimo Bertoldi, Chief Technology Officer, SolydEra, commented:

"Diffusion Alloys has supported us and provided high-quality coating services for 10 years. We look forward to continuing our work with them in the future as we scale our solutions."

Chris Heminway, Executive Chairman of Time To ACT plc, commented:

"I am very pleased to see evidence, judging by EET Hydrogen's comments, that the demand picture for the hydrogen economy in the UK is building momentum.  Hydrogen is an important end-market for us.  We are delighted to announce that Diffusion Alloys and SolydEra have formalised their long-standing relationship, which is perfectly aligned with our broader vision at Time To ACT of building supply-chain partnerships in the Energy Transition and Energy Security marketplaces.  This latest strategic partnership underscores the efficacy of Diffusion Alloys' coatings in another critical cleantech application.  Diffusion Alloys is building a high quality cleantech customer base and now has a strategic partnership in Green hydrogen with SolydEra SpA to add to its relationship with Johnson Matthey plc in Blue hydrogen".

 

About SolydEra:

SolydEra is a key world player in the market of Solid Oxide Cells, Stacks and Solutions, with the largest annual production capacity in Europe. Its Solid Oxide Technology has a proven track record and delivers best-in-class performance and durability in fuel cell and electrolysis mode. The company has research & development and industrial manufacturing facilities in Italy, Switzerland and Australia. Its headquarters is in Trentino Alto Adige, Italy. www.solydera.com        

 

 

Time To ACT plc
Chris Heminway, Executive Chairman
Gary Wallace, Chief Financial Officer
Investor questions on this announcement:
Tel: +44 (0) 1642 967138
https://investors.timetoactplc.com/link/Ve9lzy
VSA Capital Limited, AQSE Corporate Advisor
Andrew Raca, Brian Wong (Corporate Finance)
Andrew Monk (Corporate Broking)
Tel: +44 20 3005 5000

 

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Engage with the Time To ACT management team directly by asking questions, watching video summaries and seeing what other shareholders have to say.  Navigate to our Interactive Investor hub here:  https://investors.timetoactplc.com/link/Ve9lzy  

 

About Time To ACT plc

Time To ACT plc is an engineering-led group focused on technology for the energy transition supply chain. It currently has two principal operating businesses: Diffusion Alloys and GreenSpur. As the parent company of the Group, Time To ACT provides strategic and operational support to the operating companies and capital to enable their growth.

 

 

About Diffusion Alloys 

Diffusion Alloys supplies diffusion coatings. A diffusion coating is an intermetallic layer that protects metal components from degradation at high temperatures and in highly corrosive environments, such as those found in hydrogen and nuclear energy generation.

 

Diffusion Alloys has joined forces with Johnson Matthey plc, the market leaders in synthesis gas ("syngas") with a significant pipeline of Blue Hydrogen projects, to scale-up production and address the increasing demand for low carbon hydrogen used to reduce global carbon emissions.

 

In addition to working for numerous historic and existing customers, the Directors believe that Diffusion Alloys is the only credible diffusion coater in the world for blue hydrogen components, has already been coating in volume for a leading European vendor in the green hydrogen space and is also in pre-commercial discussions with new cleantech equipment manufacturers.

 

Diffusion Alloys has two distinct areas of focus:

 

·    Coating Technology: Selling technical excellence in coating capability supported by the concept of "flexible capacity" - the ability to provide customers with capacity wherever they need it, whether for the coating of Large Parts or Small Parts.

 

·    Coating Services: Plant-led coatings business centred on its Middlesbrough site.

 

About GreenSpur

GreenSpur is an intellectual property creator and generator designer that has developed axial flux technology including a credible solution for renewable energy applications to the Rare Earth magnet problem.

 

Magnets constructed using Rare Earth Elements (REEs) are fundamental components in electrical generators and electric vehicle motors which are critical to delivering the clean energy transition. However, there are substantial supply chain constraints and risks in the sourcing of REEs that are needed for these magnets.

 

One iteration of GreenSpur's generator design eliminates the need for Rare Earth magnets and copper coils without any loss in electrical performance. 

 

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