H2Terminals, a green hydrogen marine technology company, has signed a memorandum of understanding (MoU) with the London P&I Club to develop insurance solutions for green hydrogen shipping.
The collaboration will assess insurance requirements specific to H2Terminals' hydrogen-powered vessels, patented liquid hydrogen storage systems, and onboard fuel cells over the next 12 months.
This initiative marks a critical step in introducing liquid hydrogen to the UK market, involving offshore production on an energy island utilizing wind, solar, and wave energy, followed by electrolysis and liquefaction on-site.
Hydrogen will be transported using liquid hydrogen carriers (LH2), and distribution will be managed through energy barges, delivering liquid and gaseous hydrogen along with electricity and other byproducts at scale.
Gerry Wilkinson, CEO of H2Terminals, emphasized that this partnership sets new standards for safety and reliability in clean energy transport, while Ian Gooch, CEO of London P&I Club, highlighted the transformative potential of green hydrogen in shipping.