D2Zero announces acquisition and new global headquarters in Aberdeen

One of Scotland’s fastest growing companies has completed another acquisition and announced the location of its global headquarters in Aberdeen.

Clean energy group D2Zero has finalised the purchase of Hull-based OSL Consulting Engineers, adding further engineering expertise to its 4,000-strong workforce.

The company has also confirmed that it will deliver its mission to decarbonise critical industries from a new base in Aberdeen’s Energy Transition Zone, the largest dedicated energy transition complex in Europe.

D2Zero - which has the financial backing of SCF Partners - is a business grounded in the realities of the transition, with dual focus on servicing and decarbonising the vitally important oil and gas sector, whilst accelerating the transition to renewable energy.

The group includes Score and Hydrasun – two long-established and highly-respected service businesses – and has revenues of over £500million.

Its companies are collaborating with each other - and with industry - across four key areas of the energy transition: emissions reduction; clean hydrogen; power efficiency and resilience management; and carbon capture and storage.

It is already building momentum and just last week Hydrasun was selected by bp and Aberdeen City Council to support the delivery of the Aberdeen Hydrogen Hub, which is estimated to be worth over £700million to the Scottish economy.

Hydrasun will work closely with Aberdeen Hydrogen Energy Ltd to develop the supply chain, skills and training to position Aberdeen as a hydrogen leader and a model for how scalable green hydrogen solutions can play a critical role in delivering net zero for cities and regions.

Acquisitions are core to D2Zero’s strategy, and the firm is identifying high-quality companies that can expand the group’s expertise and accelerate its growth.

OSL brings a 100+ strong team of innovative engineering consultants into the group with experience of delivering complex projects for some of the most progressive energy companies in the world.

OSL’s capabilities span all stages of project development from concept, feasibility, FEED, design and EPCm, with specialist expertise aligned to D2Zero’s core areas of focus within the energy transition such as hydrogen solutions and carbon capture and storage projects.

D2Zero says it has a “strong and active pipeline” of opportunities and, supported by SCF Partners, is looking to complete further acquisitions in the coming months.

D2Zero’s Chairman, Colin Welsh, a Partner at SCF, said: “D2Zero was founded on the premise that by bringing leading and complementary decarbonisation technologies together, under a supportive infrastructure and strong leadership, we could significantly accelerate progress and deliver breakthrough innovations for the energy transition.

“I am very pleased to see the momentum in the business and excited about the significant opportunities for D2Zero to deliver decarbonisations solutions at scale.”

Bob Drummond, Chief Executive Officer of D2Zero, said: “The progress we have announced today provides an insight into high levels of activity and energy within D2Zero. We have demonstrated that D2Zero is a trusted partner for customers seeking to deliver highly complex projects that are critical to their decarbonisation and net zero objectives.

“Together the announcements of another acquisition, and a new home at the heart of the energy transition in Scotland, show that we are an ambitious company with momentum and excitement about the future.”

Sir Ian Wood, Chairman of ETZ Ltd, said: “The decision of D2Zero to establish its global headquarters in the Energy Transition Zone marks a huge vote of confidence in the North East of Scotland’s ambition to reposition as a globally recognised energy cluster focussed on the delivery of net zero.

“D2Zero are the embodiment of what a just and managed energy transition should be. They have taken the bold decision to combine a number of pioneering and successful businesses, each with different sectoral strengths, to capitalise on the vast opportunities presented by new and green energies.”