Climate Change Data

Environmental Metrics

ESG Focus Areas

• Employee wellbeing and training
• Governance
• Health and safety
• Environmental programmes
• Supply chain and materials sourcing
• Product end-of-life management
• Waste and waste management
• Business ethics
• Legal and regulatory compliance
• Product benefits and customer service
• Carbon footprint
• Developing clean energy solutions
• Environmental issues
• Governance issues
• Social issues
• Product benefit issues

Environmental Achievements

• Carbon footprint data for 2022 & 2023 captured & compared to 2021 baseline; Reduced carbon footprint per employee in all categories; Scope 1 carbon footprint kept low.
• Using wholly green electricity for heating and power, resulting in no scope 2 carbon emissions.

Social Achievements

• Introduced HiBob HR information system; Expanded iHasco online training platform; Completed salary benchmarking reviews; Launched a second save-as-you-earn share save scheme; Held employee recognition events; Introduced an employee assistance program; Introduced remote working and core hours; Established a multi-faith/multi-purpose room and gender-neutral toilets; Partnered with local schools for careers talks and work experience.
• Achieved highest number of first aiders and fire marshals in the organisation.

Governance Achievements

• Appointed a General Counsel and Company Secretary; Introduced a revised Delegation of Authority process; Maintained a well-functioning, balanced Board; Continued to promote a zero-tolerance approach to bribery and corruption.

Climate Goals & Targets

Environmental Challenges

• Products are at an early stage of commercialisation; High system costs may reduce competitiveness; Supply chain pricing tension and resilience; Competitiveness depends on the delivered price of hydrogen; Ongoing development requires ready access to test equipment; Risk of intellectual property leakage; International supply chain with sole-sourced components; Supply chain unproven at envisaged scale; Global pandemics; Failure to meet shareholder expectations; Competition attracting & retaining skilled personnel; Cyber risk; Customers and strategic partners in multiple jurisdictions; State-sponsored aggression; Emissions targets and government support can impact customer purchasing decisions; Company does not yet generate positive cash flow; Multi-jurisdiction supply chain exposes the Company to foreign exchange risk.

Mitigation Strategies

• Strict quality control procedures; Working with strategic partners; Suitable sparing policy; Extensive due diligence; Pursuit of multiple partnerships; Geographic exclusivity clauses; Proactive value engineering process; Supply chain pricing tension and resilience from using multiple suppliers; Increasing levels of global investment in the hydrogen supply chain; Pursuit of an integrated fuelling strategy; Recent high success rate when applying for applicable government grants; Good relations with existing suppliers; Exploring opportunity to develop its own test facility; Using specialist advisors, internal controls, and employee briefings; Partner agreements contain non-disclosure and IP protection provisions; Moving away from sole sourcing; Good planning, along with a growing order book and strong balance sheet; Business Continuity Plan; Focus on cash burn and strict cost control measures; Contingency plans; Adequate cash balances; Proactive remuneration committee; Mixture of short-term and long-term incentives; Accredited under the “Cyber Essentials” programme; Seeking specialist external advice; Prioritise customers that already have the budget; Continued sales growth and product development; Holds accounts in all three main currencies; Production planning allows it to hedge.

Supply Chain Management

Responsible Procurement

• Sustainable sourcing

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: QCA Code

Certifications: ISO 14001 (planned for 2024), ISO 45001 (planned for 2024)

UN Sustainable Development Goals

• Goal 7 (Affordable and clean energy)
• Goal 9 (Industry, innovation and infrastructure)
• Goal 13 (Climate action)

Our products reduce greenhouse gas emissions, air pollution and noise pollution; We partner with industry to support decarbonisation of hard-to-abate sectors.

Sustainable Products & Innovation

• S Series H-Power Generator
• S+ Series H-Power Generator
• Fuel conversion technology
• Modular ammonia cracker platform