LONDON (ShareCast) - (Sharecast News) - Getech announced on Friday that its H2 Green business has signed a memorandum of understanding with Scotland's Highland Council, to work towards creating a "regional network" of green hydrogen hubs across the Scottish Highlands.
The AIM-traded firm said the infrastructure would accelerate the decarbonisation of the Highlands area - the largest administrative unit in the United Kingdom, covering almost a third of Scotland.

Under the deal, H2 Green and the Highland Council would produce a regional plan to develop a network of green hydrogen hubs, placing hydrogen production, storage and delivery infrastructure at "optimal locations" across the Highlands.

They would also establish commercial agreements for green hydrogen offtake, underpinned by transport decarbonisation initiatives in the region, and establish commercial agreements for the consumption of by-products of hydrogen generation, including oxygen and zero-emission heat.

The Highland Council would contribute £0.1m to the cost of the initial work.

Getech said the parties had already started negotiations on the terms of a joint venture agreement, under which the proposed highlands decarbonisation plan would be delivered.

To facilitate that, the Highland Council had granted H2 Green six months of exclusivity.

"The signing of the memorandum is a significant milestone for our plan to establish a world-class regional hydrogen network in the Highlands," said Getech chief executive officer Jonathan Copus.

"At the core of this network is our first planned hydrogen hub with SGN Commercial Services located in Inverness, which will service large-volume customers.

"In line with these goals, we have already announced agreements with Eversholt Rail to accelerate the wide-scale deployment of their hydrogen-powered trains on the Far North and West Highland Lines of Scotland."

Dr Copus said the activities, combined with the Highland Council initiative, would establish the Highlands as "the leading UK centre" for decarbonisation.

"They will also support job creation, deliver energy security and provide a sustainable path for the region's net zero transition."

At 1436 GMT, shares in Getech were up 8% at 31.86p.

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