Here's a nugget of news that may have passed people by and which needs a little explanation.
BP PLC (LSE:BP.) announced this week it is stepping back from its Teesside hydrogen scheme, leaving the UK with far fewer credible hydrogen developers just as the Labour government is banking on the fuel to support its green-energy plan.
That gap creates a clearer runway for EnergyPathways PLC (AIM:EPP).
While the oil giant gives way to what could become Europe’s largest AI data centre, EP is moving in the opposite direction.
It has begun engineering studies with KBR and Hazer for its Barrow project, which aims to produce 20,000 tonnes of hydrogen a year alongside a major stream of synthetic graphite, a mineral the UK classifies as critical for batteries and other net-zero technologies.
Investors may not appreciate that EP’s technology sits at the lower end of the cost curve at a time when traditional blue and green hydrogen routes are becoming harder to justify.
It also has a rare advantage: the Secretary of State has already designated its Barrow scheme a project of national significance, giving it a faster, more predictable planning route.
Put simply, while others are dropping out, EnergyPathways is still building.