Member Info for LSE03

Thanks Chris, I didn't realise MJM Marine, ship outfitters were based in Newry. I think this adds to the Belfast potential package offering to Cruises for refurbishment and repair work. H&W has also recently appointed our own in-house ship outfitter expert.

Well done them 👏

Https://www.proactiveinvestors.com/companies/news/1025966/britain-needs-900-hydrogen-filled-salt-caverns-to-hit-climate-goals-says-royal-society-1025966.html?rel=scroll

Https://twitter.com/HarlandWolffplc/status/1700160971291902331?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

"We were delighted to welcome Parliamentary Under-Secretary of State for Nuclear and Networks

@AndrewBowie_MP

to our stand today at

@SPE_OE

.

He discussed the Belfast Yard and it's facilities as we ramp up ahead of our FSS project delivery."

Key energy spokesperson for energy, regularly at the despatch box.

Https://www.business-live.co.uk/manufacturing/harland-wolff-belfast-base-become-27679764?int_source=amp_continue_reading&int_medium=amp&int_campaign=continue_reading_button#amp-readmore-target

Https://www.navylookout.com/the-struggle-to-get-hms-somerset-back-to-sea/

See in the US they now include workforce development funds for shipbuilding

https://www.nationaldefensemagazine.org/articles/2023/8/2/just-in-navys-latest-multiyear-contract-first-to-include-workforce-development-funds

Read full report at bottom of article

https://royalsociety.org/news/2023/09/electricity-storage-report/

Daily Telegraph article today

"Build hydrogen ‘caves’ or risk blackouts, Britain warned

Britain must set up a vast network of hydrogen-filled caves to guard against the risk of blackouts under the net zero shift, according to the country’s premier science body.

Our energy editor Jonathan Leake has the details:

The Royal Society has said 900 caverns filled with hydrogen will be needed to ensure the UK can keep the nation’s lights on during periods of low wind and sunshine.

The proposed facilities would be capable of storing billions of cubic metres of hydrogen, which could be used to power electricity generators during bouts of mild weather when wind farm outputs plummet.

The report is perhaps the starkest warning yet of the risks faced when relying on intermittent weather-dependent energy sources without sufficient backup.

Read what it says about Britain’s long-term energy storage.

It warns: “The UK’s need for long-term energy storage has been seriously underestimated."

H&W well placed to support with this through Islandmagee :)

Https://www.heraldscotland.com/news/23769981.residents-look-run-corran-ferry-resolve-new-scots-fiasco/

Https://www.businessgreen.com/news/4124293/complacency-incompetence-government-slammed-clean-energy-auction-results-offshore-wind-farms

Clear signal to government to force a rethink

The Islandmagee Project represents a strategic asset both for the island of Ireland and mainland UK, underpinned by a recent independent study (the Large-Scale Hydrogen Concept Study) confirming that the Islandmagee Project is technically suitable to store, blend, process and introduce hydrogen into the network. The hydrogen market is rapidly evolving, and the Company believes that this project will stimulate the growth and monetisation of hydrogen production and consumption. This has the potential to add enormous value in the transition from natural gas to hydrogen, with the recent study emphasising the viability of the business case and economic model. Accordingly, the Company will be seeking to appoint a technical consultant to conduct a Front-End Engineering and Design (FEED) study for hydrogen storage as well as amend its existing permissions to incorporate the storage of hydrogen.

Whilst the Company is currently reviewing the details of the High Court judgement, the judgement has created the opportunity to evaluate several potential strategic options for the asset including:

· Trade sale of the project;

· Government funding (either in full or on a matched basis) through the National Infrastructure Bank or similar entity via a commercial mechanism such as a Contract for difference (CfD) or Regulated Asset Base (RAB) model; and

· Traditional farm-out model with the Company retaining a minority stake in the project.

The Company will fully assess its options in respect of the Islandmagee Project to ensure any future decision on this project is in the best interest of shareholders.

Yes, but DYOR.

The context is we have won an important judicial review re gas storage at Islandmagee, have an Atkins report that explains how that can then be converted to a hydrogen storage facility supporting energy transition and we have £800m approx share of contract to build 3 FSS ships under an MOD contract.

Https://www.engie.com/en/activities/renewable-energies/green-hydrogen

Https://www.bbc.com/news/uk-england-hampshire-66738346

Https://innovation.engie.com/en/articles/detail/hydrogen-underground-storage-salt-caverns/25906/general

Worth a read of article

"Presented as the energy source for a clean future, renewable hydrogen can finally boast to be a viable alternative to fossil energy. Technological solutions are improving in terms of production and consumption, the idea of a hydrogen economy is emancipating from think tanks to become part of national energy programmes. Recent studies confirm that green hydrogen could supply up to 25% of the world’s energy needs by 2050.

However, higher demand also means there is going to be a need for increased storage capacity. Hydrogen can be stored physically using a storage method which has already proven its worth and in which interest is growing as demand is increasing: salt caverns."

"Today, there are 4 hydrogen storage sites in salt caverns existing in the world."

ENGIE EYE

"For the year 2050, H2 storage needs reaching 8 TWh have been estimated for France (source: GIE). Within the framework of its 2ß45 Net Zero Carbon strategy, ENGIE ambitions to develop 1 TWh of underground hydrogen storage capacity in salt caverns by the year 2030. "

Ben Murray, LinkedIn

Really good to be in Hamburg this week with CLIA | Cruise Lines International Association alongside Harland & Wolff colleagues Oliver Morton and Darren Smith. Great to catch up with partners from cruise lines ahead of next week's London International Shipping Week 2023, where we'll be making some exciting announcements about the UK's role in cruise refit and repair.

Traded volumes look very thin against 173m shares in issue. Looks like buyers are holding onto their shares.

Https://www.bicmagazine.com/projects-expansions/renewable-sustainability-h2-esg/jera-americas-uniper-and-conocophillips-announce-agreement/

"JERA Americas & Uniper announced a non-binding Heads of Agreement, together with ConocoPhillips, for an ammonia sale to Uniper and that moves their cooperation on development of a low-carbon ammonia production facility along the U.S. Gulf Coast to the next phase."

That's quite a distance to ship, a hydrogen storage facility in Europe would be very useful maybe :)

H&W are well placed to help with this 👍