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LSEO3 you thinking there’s a link to IM caverns here ?
Https://www.innovationnewsnetwork.com/hydrogen-powered-vehicles-a-fast-emerging-market/15964/
CK Infrastructure Holdings, a shareholder in gas and electricity businesses run by Li’s eldest son Victor, invested recently in the hydrogen private equity fund HYCAP, according to a statement from the Hong Kong-based company sent to Bloomberg News.
Earlier this year, the investment firm of the senior Li, 93, bought stakes in Syzygy Plasmonics and H2Pro, two producers of the gas, as well as a start-up for powering airplanes with it.
Renewable hydrogen is becoming an increasingly popular energy option as more nations and businesses seek to cut carbon emissions.
The market for it in the utilities industry could be worth about US$12 trillion by 2050, according to research from Goldman Sachs Group last year.
“We are of the view that hydrogen will be of significant importance in decarbonising energy and transport systems,” Andrew Hunter, CK Infrastructure’s deputy managing director.’’
Nice to see the articulation of why they are comfortable to make a £0.75 billion investment in NI gas distribution network.
A new player who may have a legitimate interest in Islandmagee and NI decarbonisation.
Daily Telegraph, Partial Extract
Phoenix Energy Group CEO Kailash Chada said: “We are delighted that the sales process has attracted the calibre of investment CKI bring to the Northern Ireland economy.
"CKI has a comprehensive portfolio of global investments which include a number of UK based investments; Northern Gas Networks, Wales & West Utilities, UK Power Networks, Seabank Power and Northumbrian Water.
“We are particularly pleased that the CKI investment coincides with the gas industry in NI entering an exciting period of continued growth and development, providing sustainable low carbon heating options to over 350,000 properties in NI and playing an integral role in delivering regional decarbonisation ambitions.”
Phoenix has also confirmed that “the outcome of the sales process will not have an impact on the Phoenix Energy workforce”.
Phoenix Energy was established in 1996 and is Northern Ireland's largest natural gas network company, operating a network that covers half of the local population and providing gas to more than 350,000 households.
LSEO3 they are shrewd investors when it comes to seeing an opportunity in a expanding area like Belfast imho
Interesting strategic investment in a NI gas distribution network by one of the world's wealthiest people.
Https://businesschief.asia/corporate-finance/the-six-largest-family-businesses-in-hong-kong
Now led by Victor Li Tzar-kuoi, Li Ka-Shing’s elder son and chairman, the multinational conglomerate operates a diverse range of businesses, spanning telecoms, port services, retail, energy and infrastructure.
As well as being a world leader in port services, holding interests in 54 ports in 25 countries, CK Hutchison has exponentially expanded its telecoms business since its entry into the mobile telecommunications market in 1983 – and now serves over 176 million customers across the world.
In infrastructure, CK Infrastructure Holdings Limited (CKI) has diversified investments in energy, transportation, water and waste management, and the Group holds direct interests in other infrastructure projects including Australian Gas Networks and Northumbrian Water
Interesting to see Chinese and US investment money coming to Northern Ireland.
Https://en.m.wikipedia.org/wiki/Li_Ka-shing
One article is saying Li Kha Shing is 33rd richest person in the world.