Member Info for LSE03

Https://hydrogen-central.com/oman-to-invest-30-billion-to-boost-hydrogen-economy/

Https://constructionreviewonline.com/construction-news/uk/ingka-group-invests-in-irish-offshore-wind-farm-projects/

"Source Galileo has already announced plans for five offshore wind farm projects in Ireland, with expected completion dates between 2030 and 2031. Two of these will be located in the Celtic Sea, one off the coast of Cork, one off the coasts of Wicklow and Wexford, and the final one near Malin Head in Donegal."

Business opportunity for H&W

The NIC called for the UK to create a strategic reserve of gas, capable of meeting the country’s needs for two months.

This would buffer the country against supply shocks caused by wars or by weather. In 2022, there were 262 low wind days when the nation was reliant on gas-fired power stations.

The assessment added: “To further reduce the impact of such shocks, government should establish a strategic energy reserve to provide resilience.”

Https://bidstats.uk/tenders/?ntype=tender#808910847-808518091-64

https://bidstats.uk/tenders/2023/W41/808518091

Description

Tenders are sought from interested parties to supply to Shetland Islands Council a new vessel in accordance with the specification and in the timescale detailed in the Invitation to Tender.

The requirement includes a proven design for a new build steel monohull workboat with 12 passenger capability that is MCA workboat code compliant.

The vessel must be delivered to the Council at Lerwick, Shetland Islands by 31st October 2025.

Https://www.furniturenews.net/news/articles/2023/10/1905144770-ikea-parent-invests-uk-offshore-wind

Partial Extract

"Ingka Investments, the investment arm of Ingka Group, is investing in an offshore wind project portfolio in Ireland and UK, securing a 20% stake in a portfolio managed by London- and Dublin-based European renewable energy company Source Galileo, which is developing 10GW of offshore wind to electricity and hydrogen production off the northwestern coasts of Europe."

Speaking at the announcement today, Kevin Lynch, CEO of Source Galileo, said: “The significance of the investment from Ingka is transformational for offshore wind in Britain and Ireland. The UK has committed to deploy 50GW of offshore wind by 2030, up from 14GW now. Ireland too is expected to develop at least 20GW of offshore wind by 2040, starting from pilot projects today, as a contribution to meet Europe’s climate goals. The commitment from Ingka Investments, in partnership with Source Galileo, to help deliver on these targets is enormous.”

Gina Cassidy, COO of Source Galileo, confirmed: “With Ingka Investments on board, our offshore portfolio can generate substantial clean renewable energy direct to homes and businesses across Ireland and the UK, in addition to bringing economic benefits to local communities through job creation and support for clean energy infrastructure. We welcome the opportunity to work with government bodies in Ireland and the UK to expedite national policies and supply chains to allow the industry to reach its full potential."

Opportunity for H&W.

Https://www.bbc.co.uk/news/live/uk-scotland-67122291

Scotland's First Minister Humza Yousaf

He announced plans to issue the first ever Scottish government bonds on the international bond market to raise funds for infrastructure projects

There are plans to "anchor a new offshore wind supply chain" in Scotland with up to £500m in funding over five years

Https://www.newstatesman.com/spotlight/sustainability/energy/2023/10/hydrogen-jobs-investment-decarbonisation-uk-net-zero-green-energy-national-gas

Partial extract

"If we are serious about jobs, investment and UK-powered decarbonisation, then we must back hydrogen."

"We have all the component parts for the UK to be a global hydrogen success story – a world leading research and development sector, natural offshore and onshore geology for hydrogen storage and carbon dioxide sequestration, and plentiful wind. But, despite this, the hydrogen economy in the UK will not meet its full potential without bold political action at all levels."

Sounds like Islandmagee can play a role here.

"Rather than turning off our wind farms when there is too much wind – at an eye-watering cost of over £2bn per year – we could channel the electricity through UK-made electrolysers to produce “UK hydrogen” to fuel UK-made hydrogen buses, ships, planes and blast furnaces. And through carbon capture and storage we can utilise existing UK gas reserves to produce large quantities of hydrogen, in the transition to building up our green hydrogen capacity, unlocking opportunities to decarbonise vital industries like steel more quickly than global competitors."

Yes, saw that Xenor, interesting times.

Interesting, I think I see someone buying 100,000 a day in 25,000 bites over back end of last week and into this week.

Https://www.offshorewind.biz/2023/10/17/norwegian-ports-investment-in-offshore-wind-to-bring-millions-of-euros-by-2030-report/

Https://www.motorship.com/ships-and-yards/investment-flow-starts-at-belfast-yard/1488254.article

Https://www.businessgreen.com/news/4135054/rock-cavern-storage-promises-halve-cost-hydrogen-fossil-free-steel-production

Hydrogen cavern storage to deliver fossil free steel production sounds useful for a shipbuilding business.

Thanks Stokey

Why wouldn't the court's office be able to confirm the position in the morning? I'm not a solicitor / lawyer but not clear what prevents them from communicating this if they know it.

Https://www.businessgreen.com/news/4134771/coalition-sets-course-transatlantic-clean-hydrogen-corridor

Mission Possible Partnership announces new initiative that aims to deliver first shipment of clean hydrogen from the US to Europe by 2026

A group of over 20 corporates have backed a new initiative to deliver the first shipment of clean hydrogen across the Atlantic by 2026.

The Mission Possible Partnership (MPP) - which brings together leading industrial firms and green business groups committed to decarbonising heavy industries - announced late last week that it has teamed up RMI, Systemiq, Power2X, and others to form the Transatlantic Clean Hydrogen Trade Coalition (H2TC).

The new group said it would aim to support first movers in the emerging hydrogen economy in the US Gulf Coast and Northwestern Europe, with the goal of facilitating the transatlantic trade of more than three million metric tons per year of clean hydrogen in the form of green ammonia and methanol by 2030.

Coalition partners include the Center for Houston's Future, the Port of Corpus Christi, and the Port of Rotterdam. The initiative, which will see MPP serve as its secretariat, has also been endorsed by over 20 companies operating in the emerging hydrogen economy, including Ambient Fuels, Apex Clean Energy, Buckeye Partners, BAES Infrastructure, Intersect Power, Linde, LyondellBasell, NextEra Energy, OCI, Shell, STX, Trafigura, and Zhero.

Https://m.uk.investing.com/news/stock-market-news/hyundais-shipbuilding-arm-invests-in-uk-hydrogen-developer-portfolio-company-of-hydrogenone-capital-growth-3186602

Https://www.bbc.co.uk/news/uk-scotland-glasgow-west-67105243.amp

Highlights 4 beyond expected operational life, 3 approaching end of operational life and 3 within operational life.

Yep sure, we'll plan energy security around that 👍

"UK has bags of it"

Love to see the analysis behind that statement and how it rolls forward over the next decade to meet gas / hydrogen demand for UK and Ireland.

Https://www.belfastcity.gov.uk/investinbelfast/connections/news/100-year-old-leading-robotics-firm-is-setting-up-a