TEP Renewables and Accretion Energies have announced plans to merge with the transaction aiming to complete in the second half of this year.
According to a statement, both companies have entered into a preliminary agreement to explore the creation of a joint development and production company for green hydrogen in the UK, Poland and wider Central and Eastern European markets, with a view to becoming an integrated independent renewable power and hydrogen producer.
The parties are considering a listing of the joint company on Nasdaq or New York Stock Exchange in the next year.
The combined expertise and track record of the companies will enable more competitive green hydrogen production designed for specific industrial offtake segments.
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