GREEN CAT HYDROGEN has secured a multi-million-pound equity investment from RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading, the energy trading subsidiary of RWE, the global renewable energy company.
The investment – leveraging a strategic partnership between Green Cat Hydrogen (GCH), a Scottish developer of electrolytic hydrogen projects, and R-Gen Renewables Ltd, a UK-based wind farm specialist (and portfolio company of RWE Energy Transition Investments) – will accelerate GCH’s plans to deliver a pipeline of clean, cost-competitive, green hydrogen projects across the UK. GCH’s near-term focus will be on developing their existing pipeline of <10MW projects and is well-positioned to capitalise on larger projects as the hydrogen sector evolves.
The significant investment commitment consists of two components– the first will provide funding to rapidly scale the GCH team, while the second will provide equity financing for GCH’s pipeline of hydrogen projects.
Gavin Catto, CEO of Green Cat Hydrogen Limited, said: “We are very pleased to announce this investment which gives us the resources to play a key role in the deep decarbonisation of the UK. As a business, we are committed to delivering transformational energy projects and are working closely with R-Gen Renewables to identify prime sites, leveraging their development experience and portfolio. We look forward to working together to deliver tailored, cost-competitive, and low-carbon energy solutions for our customers.”.
The investment and partnership are driven by the vision of clean, cost-competitive hydrogen production facilities built using local supply chains, as a key enabling factor in the transition to a net-zero energy system. Green hydrogen is a key energy vector to facilitate the decarbonisation of hard-to-abate sectors such as the chemical industry, industrial heat, and transport, while also being capable of providing flexibility and storage for the electricity grid.
The importance of deploying net-zero infrastructure has never been greater than right now, as the UK faces the challenge of delivering on its pledge to respond to the climate emergency and meet ambitious climate targets. This investment signals clear intent to deliver on urgent requirements for future net-zero infrastructure and will allow the early deployment of hydrogen facilities that are designed for to be an integral part of the future energy system, delivering a Just Transition.
Tom Forsyth, CEO of R-Gen Renewables, said: “We are thrilled to be working with RWE and Green Cat Hydrogen to unlock the potential of green hydrogen in the UK. We believe that green hydrogen is a gamechanger for the wind energy industry, and the energy transition as a whole, and we look forward to playing a key role in this venture.”.
Costas Papamantellos, Managing Director & Head of RWE Energy Transition Investments, said: “We are delighted to invest in Green Cat Hydrogen and support their partnership with R-Gen Renewables to deliver green hydrogen projects in the UK. RWE Energy Transition Investments is committed to investing in innovative companies and business models that can accelerate the decarbonisation of the energy system. We believe that green hydrogen is one of these technologies and that Green Cat Hydrogen is in a strong position to deliver”.