Fossil fuel company is taken over by renewable energy group
Yorkshire-based oil and gas exploration company, Third Energy, has been taken over by Wolfland Group, which specialises in green and renewable energy solutions.
Third Energy had previously been tasked with fracking in North Yorkshire, and will no longer be carrying out fossil fuel exploration.
Wolfland Group completed the acquisition earlier this month, with a fresh focus on green energy, including solar farm plans, geothermal energy at a former well site, and the possibility of producing green hydrogen and carbon storage.
Leading figure in the anti-fracking campaign, Steve Mason, is now a director of Wolfland Group and has been integral in driving forward the switch from fracking to green energy, after a meeting of minds with Third Energy’s managing director, Russell Hoare.
Mason said: “The recent energy crisis has shown we must be energy independent as a nation and that fossil fuels need to be urgently replaced by clean renewable energy supplies which will lead to cheaper energy and help us tackle climate change.
“It will also give communities still under threat from fracking a boost of knowing that a transition to clean energy is already underway and that there are alternatives.
“We believe we’re now a real-life example of walking the talk and turning stranded fossil fuel assets into green energy solutions. We’re excited about the future.”
Chief executive of Wolfland Group, Mike O’Shea, said: “With the end of COP26 producing little focus for tangible climate action, this seems the perfect timing. The Government appear to be talking seriously about green energy.
“If we get this right and we drive the green agenda, taking a dirty fossil fuel fracking company and flipping it into a green energy beacon. I think it’s an amazing opportunity.”
Russell Hoare, of Third Energy, added: “Now we can say we’re on a cleaner path. We’re absolutely no interest in fossil fuels now and we can move forward, open the right kind of doors and transition to a sustainable future.”
Third Energy is looking to produce green hydrogen at its Knapton site, in North Yorkshire, using either mains or piped-in formation water, which is present in large quantities in old wells.
The company would use electricity from the grid connection and, if production is successful, hydrogen could be supplied to HGV, waste removal vehicles, trains or into the grid. Third Energy also has an existing pipeline network that could be used to transport water and hydrogen production
Other projects that are being considered include using old wells to store carbon or hydrogen.