Meld Energy, a UK-based green hydrogen development company, announced today that World Kinect Sustainability Ventures, a subsidiary of the global energy management company World Fuel Services Corporation, has invested in its business through acquiring a 50% stake in the company. Meld Energy and World Fuel Services are working to develop green hydrogen supply chains and ultimately deliver zero carbon green hydrogen to customers across industry, ground transportation, marine and aviation industries in the UK and globally.
Meld Energy was founded by former GE executive and energy industry veteran Chris Smith and large infrastructure expert Huw Thomas, formerly of Foster + Partners. Meld Energy and World Fuel Services are presently focused on collaborating with various government and commercial entities to develop a series of modular low and zero carbon fuel plants, starting with a hydrogen facility in Yorkshire, England.
The first facility is expected to be built near the Port of Hull; a 100MW electrolytic hydrogen plant on the east coast of England, which would make a significant contribution to UK climate change targets, energy independence and local green jobs. The plant is scheduled to have hydrogen flowing from 2026 to serve the industry and transport applications of the wider region, as they pursue their net zero objectives. Additional partners and investors will be invited to participate.
Chris Smith, CEO at Meld Energy, said “Our mission at Meld Energy is to take part in delivering green hydrogen production facilities to support the energy transition. In closing the investment from World Fuel Services, we now have the backing, the locations, and the routes to market to accelerate supply for this fuel of the future. We’re building a pipeline of projects and seeking partners at the project level to work together with Meld and World Fuel Services. Together we will be focused on collaborating with the industry and enabling the development of production sites for zero-carbon high purity green hydrogen and low carbon hydrogen-based fuels across the UK and globally.”
“Our investment in Meld Energy is a reflection of our long-term view on the future of energy and our desire to collaborate with others in seeking out low and zero carbon alternative energy sources,” said Michael J. Kasbar, chairman and chief executive officer of World Fuel Services. “Working with Meld and others, we are beginning to more clearly identify opportunities for us to participate in this exciting area and take part in developing these energy markets further.”
Around the world right now, bus networks, trucking fleets, construction and quarry machinery, port, and warehouse handling equipment, and even food and healthcare operations are switching to green hydrogen. There will be big wins for agriculture, health care and building materials sectors where zero carbon electrification is impractical but decarbonization and energy resilience are paramount.
Wade DeClaris, chief commercial officer of World Fuel Services, said “We are investing in the energy transition to support our customers and are on the journey to net zero along with them, so this is a big step in that direction. While this partnership with Meld Energy is starting in the UK, our customers world-wide need support with all forms of energy and related services; not just with low and zero carbon fuels like green hydrogen, ammonia, and e-methanol, but also with zero carbon electricity, carbon management and sustainability solutions more widely.”
Meld Energy will be exhibiting at the Green Hydrogen Innovation Hub at the World Future Energy Summit in Abu Dhabi, January 16 – 18, 2023.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services also offers natural gas and electricity, as well as energy advisory services, including programs for sustainability solutions and renewable energy alternatives. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide. For more information, visit: www.wfscorp.com.
About Meld Energy
Meld Energy is a developer of green hydrogen and ammonia production facilities using electrolysis powered by renewable energy. The company is building an international portfolio of green hydrogen production to supply net zero and low carbon fuels for industry, road transport, shipping, and aviation. Renewable energy industry and infrastructure experts Chris Smith and Huw Thomas founded Meld Energy in 2020. The company is based in London, England. For more information, visit: www.meld.energy.
World Fuel Services Corporation
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