Pineapple Power gives up on Element 2 acquisition

Pineapple Power has given up on acquiring Element 2, a hydrogen refueling company in Skipton.

Since the proposed reverse takeover (RTO) was revealed in April, the two companies have not been able to agree on a final transaction structure or valuation, according to the specialized acquisitions business, which claimed it has opted not to move further with its ambitions to purchase all of Element 2’s outstanding shares.

Hydrogen Council adds three new members

Hydrogen Council announces the addition of three new members who share the goal of actively influencing the direction of hydrogen as a crucial driver of global decarbonization.

The Indian multinational conglomerate Larsen & Toubro and the UAE-based renewable energy corporation Abu Dhabi Future Energy corporation – Masdar have joined as steering members. Agfa from Belgium has joined as a supporting member, contributing a crucial element to the electrolyzer value chain.

The Hydrogen Council was founded in 2017 at the World Economic Forum in Davos by 13 founding members. In just six years, the group has grown to include 140+ global corporations with operations in more than 20 countries, representing the whole hydrogen value chain. Currently, the $8.2 trillion in market capitalization, 6.8 million FTEs, and about $5.2 trillion in revenue are represented by our membership.

The remarkable momentum for clean hydrogen that has been observed, with over 35% rise in investment growth in the last year alone, is mirrored in this expanding membership base of industrial leaders[1]. In order to support the shift to net-zero in accordance with the climate targets set by the Paris Agreement, it is still imperative to accelerate the deployment of hydrogen.