Pressure Technologies Subsidiary Secures Contract for BP’s Aberdeen Hydrogen Hub
Key Ideas
- Pressure Technologies PLC's subsidiary, Chesterfield Special Cylinders, has won a contract to supply BP's Aberdeen Hydrogen Hub with pressurized hydrogen storage systems.
- This marks a significant strategic milestone for CSC as it is their first deal of this kind, highlighting their capabilities in the hydrogen market.
- The collaboration with Hydrasun Limited will help progress ambitious plans in the rapidly developing hydrogen market, showcasing the company's expertise.
- Following the news, Pressure Technologies PLC shares saw a 12.3% increase in London, reflecting positive market sentiment towards the contract win.
In a recent development, Pressure Technologies PLC's subsidiary, Chesterfield Special Cylinders (CSC), has been awarded a contract to supply pressurized hydrogen storage systems to BP's Aberdeen Hydrogen Hub. The systems will be delivered to Hydrasun Limited, a contractor on the project, by early 2026. This contract represents a significant milestone for CSC, as it marks their first venture into supplying such systems. Chris Walters, the chief executive of Pressure Technologies, expressed enthusiasm about the collaboration with Hydrasun, emphasizing the opportunity to showcase capabilities and contribute to the advancement of plans within the hydrogen market. The contract win has been well-received in the market, with Pressure Technologies PLC shares experiencing a 12.3% increase in London trading, indicating positive investor sentiment towards the company's involvement in the Aberdeen Hydrogen Hub project.