Four Zeros Energy and Vergia to cooperate in the UK to develop green hydrogen portfolio

5 August 2025

Four Zeros Energy, an independent UK developer of low-carbon energy projects and Vergia AS, a Norwegian green energy transition platform have agreed to cooperate to develop and finance a portfolio of green hydrogen and derivatives projects across the United Kingdom.

The venture’s first asset will be the St Austell Green Hydrogen project in Cornwall, shortlisted in April 2025 by the Department for Energy Security & Net Zero (DESNZ) in the UK Government’s second Hydrogen Allocation Round (HAR2). The proposed facility will produce green hydrogen to replace natural gas in existing and future mining operations in the St Austell area, thereby reducing local industrial emissions.

Supporting the UK’s hydrogen ambitions

Under its updated Industrial Strategy and Clean Energy Industries Sector Plan, the UK Government has committed to deliver up to 10 GW of low-carbon hydrogen production capacity by 2030, of which at least 5 GW will be green hydrogen produced from renewable electricity. HAR2 alone seeks to support up to 875 MW of new electrolysis capacity. Projects backed by robust development expertise and long-term capital are expected to play a pivotal role in meeting these targets.

Executive commentary

Murray Davies, Co-Founder and Director, Four Zeros Energy, said: “Partnering with Vergia provides the technical depth and financial strength required to accelerate the commercial rollout of green-hydrogen projects in the UK. Together we aim to unlock new investment, create skilled regional employment and enhance the country’s low-carbon energy security.”

Marc Schürch, Head Renewable Energy Infrastructure at Swiss Life Asset Managers and Chair of Vergia, added: “This cooperation is a natural extension of the Power-to-X strategy we launched with the acquisition of Vergia in 2024. 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 initiative underlines our commitment to generating sustainable value for our investors while supporting Europe’s goal of climate neutrality by 2050.”

Four Zeros Energy and Vergia are not disclosing the financial terms of their transaction.

Shepherd and Wedderburn acted as legal adviser to Four Zeros Energy, while Thommessen and Burges Salmon advised Vergia.