Santander is deploying Cambridge green hydrogen technology from Levidian to reduce its carbon footprint.
The UK arm of Spanish multinational financial services company Santander is deploying Cambridge technology to reduce its carbon footprint.
The collaboration includes opportunities for the deployment of Levidian’s pioneering LOOP technology across Santander UK’s own office footprint as well as the possibility to support businesses across this country with their transition to a low carbon economy.
Levidian has developed LOOP – a rapid decarbonisation device which strips carbon from methane to create a green fuel in clean hydrogen and high-quality graphene. This material can be used across a broad spectrum of applications, such as the increasing durability of concrete, tyres and batteries through to production of anti-corrosion paint.
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John Hartley, Levidian’s CEO, said:
This is an exciting opportunity to use the Levidian LOOP to deliver meaningful decarbonisation both within Santander UK and through its sponsorships and partnerships.
“Santander has set ambitious goals and we look forward to collaborating with a partner committed to decarbonisation.”
Fermin Martinez de Hurtado Yela, head of Sustainability & Responsible Banking at Santander UK said the transition to net zero required strong collaboration between different stakeholders.
“We recognise the key role that Santander and companies like Levidian will play as part of this journey, scaling up solutions that cut down emissions and help tackle climate change. We are thrilled to be working with them, unlocking innovation to reduce and minimise the impact on our planet.”
Santander UK’s sustainability strategy is focused on key initiatives where the greatest impact can be achieved, with ambitious targets set at both UK and Group levels.
Fighting climate change and supporting the green economy drives the environmental element of the bank’s strategy, including managing climate risks and supporting customers to transition to a low carbon economy while reducing emissions in their own operations.
The bank has also been carbon neutral in its own operations since 2020 and is committed to achieving net zero carbon emissions in all its lending, advisory and investment activities by 2050.
Furthermore, its car financing operations in Europe (Santander Consumer Finance), the USA (Santander Consumer USA) and other markets are supporting the development of sustainable mobility solutions.
Separately, as previously announced, Levidian’s decarbonisation tech is being deployed in the UK for the first time as part of a collaboration with solutions business Eco Group.
The deal marks multiple firsts. Eco Group’s deployment in the south of Scotland will be the first remote implementation of the pioneering LOOP technology in the UK. It is also a world-first deployment of a LOOP system with fully integrated hydrogen separation.
The LOOP device uses a patented low temperature, low pressure process to crack methane into its constituent atoms, hydrogen and carbon, without the need for catalysts or additives – decarbonising methane-rich gas to deliver hydrogen and graphene on site.
Following the initial deployment of the LOOP10 system at Eco’s HQ at Annan, Dumfries and Galloway, the firm has committed to working with clients and partners to deploy more than 60 larger LOOP1000 units across Scotland and beyond over the next five years.
Eco Group will also be a distributor of graphene, focusing on R & D applications for the use of the material as an advanced additive in the aerospace, automotive, 3D printing, textiles, and energy sectors.
South of Scotland Enterprise has engaged with Eco Group for some time, providing guidance and now a £331k grant to support the project.
John Hartley said: “LOOP will be a powerful tool for industrial decarbonisation and fits in well with Scotland’s green ambitions; we’re looking forward to working with Eco to deploy LOOPs and integrate graphene to help us drive towards net zero.”
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Santander banks on Levidian to slash carbon footprint, November 24, 2022
