Hydrogen Energy

Group revenue from the hydrogen energy market was £2.1m in 2023. This market is served solely by our Cylinders Division.

Market overview

Momentum continues to build in this sector, driven by greater focus on Net Zero for COP26, Important Projects of Common European Interest (IPCEI) projects in Europe releasing state funding, and more mobile refuelling stations being planned. 

In addition, decarbonisation of industrial processes with green hydrogen is driving projects that include large amounts of stored hydrogen. 

This sector is developing as we expect, and we continue to collaborate with our suppliers in order to be well-positioned to take advantage. 

Market potential

As well as storage cylinder orders for more hydrogen refuelling station (HRS) we have a better view of customers’ order books and plans for capacity expansion. There is now more focus on HRS for buses, trucks, trains and inland waterways. 

Green hydrogen offers opportunities for very large orders, as hundreds of pressure vessels can be needed for buffer storage to protect production such as at Total’s La Mede biorefinery near Marseilles. 

Collaboration continues with our major steel tube suppliers including Tenaris and Vallourec, who provide important support globally, including with R&D and development of new alloys for hydrogen energy related cylinders. 

Hydrogen Energy financial statistics

2023 Group Revenue

(2022 :£2.4m)

2023 growth