Four Zeros Energy and Norway-based Vergia have joined forces to develop and finance a UK-wide portfolio of green hydrogen and derivative projects.
Their first initiative is the St Austell Green Hydrogen project in Cornwall, which was shortlisted in April 2025 under the UK Government’s second Hydrogen Allocation Round (HAR2).
The proposed facility will produce green hydrogen to replace natural gas in mining operations around St Austell.
Four Zeros Energy director Murray Davies said: “Partnering with Vergia provides the technical depth and financial strength required to accelerate the commercial rollout of green-hydrogen projects in the UK.”
The UK aims to deploy up to 10GW of low-carbon hydrogen capacity by 2030, with at least 5GW to come from green hydrogen.
HAR2 seeks to support up to 875MW of new electrolysis capacity.
Marc Schürch, chair of Vergia and head of renewable energy infrastructure at Swiss Life Asset Managers, said: “Combining Four Zeros Energy’s local development expertise with our long-term infrastructure capital will enable us to advance a pipeline of bankable projects that contribute meaningfully to the decarbonisation of hard-to-abate sectors in the United Kingdom.”
The partners said the cooperation will unlock new investment, support regional jobs and enhance UK energy security.
Legal advisers on the deal were Shepherd and Wedderburn for Four Zeros, and Thommessen and Burges Salmon for Vergia.