The emerging hydrogen energy supply chain generates demand for the types of products developed by CSC over many years. In the past year, two orders for large high-pressure ground storage cylinders were secured for projects in the UK and overseas. Funds raised in December 2020 will be used to increase capability and capacity for both products and services for the hydrogen energy sector. CSC is now better positioned to secure sales growth and long-term supply and support agreements as this market expands further.
Increased drive for lower emissions from many governments, including stimulus for a green economic recovery from Covid-19, means hydrogen storage needs are growing. This is especially true for refuelling station needs for vehicles, trains and ships where CSC already has product and services. This sector is at a very early stage in development, but has the potential to develop into a significant long-term growth opportunity.