Pressure Technologies has announced a significant contract to supply BP Aberdeen City Hub with high-pressure static hydrogen storage. This is an important strategic milestone, marking the group’s first ever contract to supply large scale storage systems. The statement also notes that additional hydrogen contract awards are anticipated in 1H25 (calendar), which, along with this contract, will provide a strong underpin to our FY25 & FY26 hydrogen forecasts. We would expect signs of building momentum in Hydrogen to be taken well by equity markets. No change to forecasts or recommendation.
