In a significant move towards sustainable shipping, H2Terminals Ltd., a pioneer in green H₂ marine technology, and the London P&I Club, one of the world's leading marine liability insurers, have signed a Memorandum of Understanding (MoU) at the London P&I Club's headquarters. Through the MoU, H2Terminals and the London Club will cooperate to evaluate and develop insurance solutions for the shipping of green H₂.

This strategic partnership marks a crucial step in H2Terminals' ambitious project to introduce liquid H₂ into the UK market. The initiative, which includes offshore production at Energy Island which can be 100 kilometers offshore, collecting energy from wind, sun and wave, electrolyzing and liquifying on platform. Transportation would be via advanced liquid H₂ (LH₂) carriers which will hold the liquid H₂ in 50-ton spheres and be powered by green H₂ fuel cells. The distribution process will be through power barges, delivering green liquid and gaseous H₂, electricity and several other important byproducts at scale, driving industrial decarbonization and supporting clean transport across the UK.

Gerry Wilkinson, CEO of H2Terminals, said, "Our partnership with London P&I Club is a first in green H₂ shipping and is a vital component of our service framework, alongside our collaboration with Lloyd’s Register and a world leading ship management company. By combining our cutting-edge H₂ transportation technology with world-class marine insurance, we're offering a complete package that sets new standards in safety and reliability for clean energy shipping."

The London P&I Club, leveraging its expertise and experience in the marine insurance sector, will work closely with H2Terminals to evaluate and develop tailored insurance solutions. These will include specialized coverage for H2Terminals' three types of H₂-powered vessels, their patented LH₂ storage systems, and innovative features such as onboard fuel cells and autonomous operations.

"As a leading P&I Club, with a strong focus on sustainability, we recognize the transformative potential of green H₂ in the shipping industry," said Ian Gooch, CEO of London P&I Club. "This partnership allows us to further extend our engagement around green shipping, providing sustainable insurance solutions for this groundbreaking technology."

Over the next 12 months, the two companies will collaborate on:

• Assessing H2Terminals' specific insurance requirements
• Evaluating risk factors unique to green H₂ marine transportation
• Developing a customized insurance framework
• Creating best practices for insuring bulk LH₂

This partnership not only addresses the complex risk landscape associated with innovative green technologies but also paves the way for widespread adoption of sustainable shipping practices. By offering comprehensive insurance solutions, H2Terminals and London P&I Club are working together to promote the implementation of green H₂ technology in maritime transportation.