Investment firm SCF Partners has announced the formation of D2Zero – a decarbonisation business made up of five existing UK companies, including hydrogen players Hydrasun and Fuel Cell Systems.
The companies within the new platform are all portfolio firms of SCF, each with engineering and operations support expertise for energy infrastructure across different technologies,
It is hoped D2Zero will accelerate customers’ progress towards decarbonisation and Net Zero objectives, with plans to create business of scale with revenues exceeding £500m ($636m) and a workforce of 4,000 people.
Hydrasun is a Scottish-based integrated fluid transfer, power and control solutions and services company. With a number of hydrogen projects in its portfolio covering design, product supply, integration, installation and commissioning, Hydrasun has been looking to establish itself in the hydrogen supply chain.
Bob Drummond, who has been CEO of Hydrasun since 2003 will lead the D2Zero platform as its CEO.
Fuel Cell Systems provides a range of hydrogen systems to end-users, including the design, build and supply of refuelling systems for mobility applications, as well as integrated electrolyser systems for production, storage and dispensing.
In July (2023), the company provided hydrogen to numerous demonstration vehicles at the Goodwood Festival of Speed.
The other three companies making up D2Zero are smart energy solutions provider Powerstar which designs and manufactures power management technologies for battery storage and microgrids; Global E&C, a design, modification and commissioning services firm; and Score Group, a valve management and associated services for upstream oil and gas.
Drummond said D2Zero stands at the “forefront” of the energy transition. “We provide multiple decarbonisation and clean energy solutions, whilst also providing a range of mission critical products, services and solutions in support of our customers’ operations within key industrial sectors,” he added.
Colin Welsh, partner at SCF and Chairman of D2Zero, said bringing the companies together was the first step in creating a decarbonisation platform of scale that offers “game-changing solutions” across a range of technologies.
SCF said further information on D2Zero and its strategy will be announced at a formal launch later in Q1 2024.
