© Hygen Energy

Hygen Energy has secured a multi-million-pound investment from HSBC UK to support its expansion of green hydrogen production in Birmingham. Through asset financing from HSBC Equipment Finance, Hygen will enhance its Tyseley Energy Park (TEP) facility and develop additional sites across the UK. This funding will help advance Hygen’s mission to support sustainable energy solutions and boost the growth of the green hydrogen sector.

Strengthening Hydrogen Supply

At Tyseley, Hygen operates a refueling unit that supplies hydrogen to major clients like National Express and JCB. These efforts support their decarbonization initiatives. The funding will boost Hygen’s production capacity, ensuring a steady hydrogen supply for these partners. By expanding its infrastructure, Hygen aims to meet the rising demand for green hydrogen and reduce carbon emissions in the transportation and industrial sectors.

HSBC UK’s Strategic Move

This investment marks HSBC UK’s first major step into the hydrogen sector. Akhil Shah, Relationship Director at HSBC, emphasized the bank’s commitment to developing technologies crucial for a Net Zero economy. He noted that the hydrogen industry needs better access to both equity and debt funding to grow. By backing Hygen, HSBC positions itself as a leader in financing the shift to sustainable energy.

Tyseley Energy Park: A Hydrogen Hub

TEP in Birmingham is a critical hub for hydrogen-related activities. Hygen established a green hydrogen refueling station there in 2021, which has become a key part of the UK’s hydrogen infrastructure. The site also hosts Ammogen’s ammonia-to-hydrogen project, showcasing the innovative projects at TEP. The expansion of Hygen’s facilities will further cement Tyseley’s role as a leading center for hydrogen technology, contributing significantly to the UK’s decarbonization goals and the push towards sustainable energy.