Hydrogen update

Time To ACT PLC

22 May 2026

 

Time To ACT plc

Hydrogen update

Time To ACT plc ("Time To ACT", "the Company" or "the Group"), the Aquis-listed specialist engineering group, welcomes the recent news of the appointment of Ruth Herbert at Chief Executive of EET Hydrogen and Power as it approaches Final Investment Decision (FID) on its landmark HPP1 "blue hydrogen" project.  The Company also notes recent affirmation that FID timing remains targeted for the second half of 2026.

Time To ACT's Diffusion Alloys business is an important supply-chain partner to the blue hydrogen industry by virtue of its previously announced collaboration with Johnson Matthey's Catalyst Technologies business unit.

Chris Heminway, Chief Executive & Chief Strategy Officer of Time To ACT, said:

"While I would echo recent comments from elsewhere in the sector bemoaning continued delays from the UK government in the rollout of hydrogen projects, this renewed signal that the HPP1 project is now nearing its long overdue FID is extremely welcome.  HPP1 remains extremely important for Diffusion Alloys, both financially and as part of the ongoing priority of validating its industry leading coating capabilities with internationally recognised industry leaders."

Time To ACT plc Chris Heminway, Chief Executive & Chief Strategy Officer Jason Moody, Chief Operating Officer Investor questions on this announcement: https://investors.timetoactplc.com/link/r8n6Jy	Tel: [phone]
Oberon Capital, Corporate Adviser and Corporate Broker Nick Lovering, Adam Pollock	Tel: [phone]

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About Time To ACT plc

Time To ACT plc is a growth-focused specialist engineering group operating through two established business (Diffusion Alloys and MTE) and one earlier-stage development activity (GreenSpur).  As the parent company of the Group, Time To ACT provides strategic and operational support to the operating companies and capital to enable their growth.

About Diffusion Alloys 

Diffusion Alloys is an established specialist provider of high-temperature diffusion coating and thermal processing technologies for critical industrial applications.

The business supports customers operating in demanding environments where components are exposed to high temperatures, corrosion, erosion and aggressive process conditions, including sectors such as hydrogen, sustainable fuels, nuclear, petrochemical processing and energy transition infrastructure.

Diffusion Alloys operates through two complementary business units:

·    Coating Technology, focused on licensing, technical partnerships and flexible-capacity deployment models; and

·    Coating Services, the operational processing business centred on its Middlesbrough facility.

Alongside its coating technologies, Diffusion Alloys is developing a broader thermal processing platform through the integration of complementary metallurgical and heat treatment capabilities. The business combines large-scale industrial processing capacity with specialist technical expertise in surface engineering and high-temperature metallurgy.

About MTE

MTE is a specialist thermal processing and precision engineering business providing heat treatment, induction hardening, gear cutting, grinding and metallurgical processing services for industrial engineering applications.

The business supports customers across sectors including automotive, energy, marine, heavy industry and precision engineering, supplying critical components requiring high levels of dimensional accuracy, durability, wear resistance and process consistency.

MTE combines sealed quench heat treatment capability, induction hardening expertise and precision gear manufacturing with specialist knowledge in distortion control, quenching techniques, metallurgical verification and associated metrology.  Its integrated processing model enables customers to access multiple complementary engineering services through a single specialist supplier, combining precision metallurgical control with scalable production capability for both specialist low-volume and higher-throughput industrial applications.

The business operates from its facility in West Yorkshire and provides subcontract engineering services to a broad industrial customer base, supported by in-house laboratory, quality assurance and technical inspection capabilities.

About GreenSpur

GreenSpur is a generator technology and intellectual property company focused on advanced electrical machine systems for renewable energy and industrial power applications.

The company develops scalable axial flux generator technologies designed for implementation across a range of sectors, including wind, marine, distributed energy and other specialist power generation applications.  GreenSpur's platform-based approach enables the development of customised generator solutions that are optimised for differing operational, environmental and commercial requirements.

GreenSpur's technologies are supported by an extensive intellectual property portfolio and are designed to provide flexibility across magnetic materials, cooling systems, drive configurations and deployment environments.  GreenSpur has developed the world's first credible Rare Earth-free technology which is competitive with existing Rare Earth magnet-based radial flux machines.  This generator design eliminates the need for Rare Earth magnets and copper coils without any loss in electrical performance.

The business operates primarily through technology development, engineering services and licensing partnerships, while also selectively supporting manufacturing and industrialisation activities where appropriate.

 

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