Hygen fuels growth with HSBC

This landmark deal – HSBC UK’s first in the rapidly growing green hydrogen sector – sees HSBC Equipment Finance provide Hygen with multi-million-pound funding in the form of asset finance lent against the business’s site at the Tyseley Energy Park.

Kevin Selleslags, Hygen CEO, said: “We are committed to leading the way in developing and delivering more low-carbon hydrogen projects across the UK so HSBC UK’s confidence in our business, and the potential of hydrogen as a low-carbon energy source, is truly encouraging. Securing this bank funding also sends an important signal to the market about the opportunities for this technology.”

Hygen is a significant developer, producer and asset owner of low-carbon hydrogen production facilities in the UK and Europe. From its Tyseley site, Hygen supports the UK’s burgeoning hydrogen industry, supplying green hydrogen to major customers like National Express and JCB for their own decarbonisation initiatives. ‘Green hydrogen’ is where hydrogen is produced through electrolysis of water powered by renewable sources of energy.

Akhil Shah, Relationship Director from HSBC UK, added: “The green hydrogen industry is still in its early stages of development and requires better access to both equity and debt funding to truly take off. This deal underlines HSBC UK’s commitment to this emerging sector, supporting the development of new technologies essential for the transition to a net-zero economy.”

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/17012025/hygen-fuels-growth-with-hsbc/