Carlton Power

What Carlton Power does

Carlton Power is an independent UK-based energy development company founded in 1995 and headquartered in Stokesley, North Yorkshire. The company operates as an integrated developer, owner, and operator of low-carbon generating assets, with a multi-decade track record delivering 2,200 MW of Combined Cycle Gas Turbine (CCGT) projects — approximately 8% of UK gas-fired CCGT capacity. Its current focus has pivoted from thermal generation toward renewable and low-carbon infrastructure, principally green hydrogen production via PEM electrolysis, battery energy storage (Li-ion and Cryobattery/LAES), and grid-stability assets.

The company's core products are green hydrogen production facilities and battery energy storage systems (BESS). Three initial green hydrogen projects — Barrow (30 MW, Cumbria), Trafford (15 MW, Greater Manchester), and Langage (10 MW, Plymouth) — totaling 55 MW are being developed through the Green Hydrogen Energy Company (GHECO) joint venture with Schroders Greencoat, formed in 2023, with a stated target of a 200 MW portfolio by 2030. Anchor industrial offtakers include Kimberly-Clark (Barrow tissue plant) and Wienerberger (Trafford brickworks). A separate large-scale 250 MW/250 MWh Trafford BESS project is also in development, alongside the merged Stag Energy business covering distributed electrolysis and grid stability services.

Carlton Power generates revenue through a project-development and long-term offtake model. Revenue streams include project development and asset-management fees, equity returns on JV-held assets, and long-term (15-year) hydrogen supply contracts under the UK Government's Low Carbon Hydrogen Agreements, which provide revenue certainty via government-backed Low Carbon Contracts Company subsidy mechanisms. GTM is enterprise-field-sales driven: the company identifies hard-to-abate industrial customers, develops bespoke on-site or nearby hydrogen supply, secures DESNZ/HAR funding, and finances projects through the Schroders Greencoat JV. There is no public pricing; terms are negotiated per project via bespoke supply agreements and subsidy frameworks.

Name

Carlton Power

Legal name

Carlton Power Limited

Website

https://carltonpower.co.uk

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Carlton Power is an independent UK energy developer founded in 1995 that develops, finances, and operates green hydrogen production facilities, battery energy storage, and grid-stability assets. It serves hard-to-abate industrial customers through long-term hydrogen supply agreements, primarily via the GHECO joint venture with Schroders Greencoat.

Ownership category

akta.pro rank

Headquarters

HQ city

Stokesley

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Hydrogen Supply Agreements: Long-term hydrogen supply contracts with industrial customers (e.g., Kimberly-Clark, Wienerberger) under 15-year Low Carbon Hydrogen Agreements with government, providing revenue certainty through state subsidy contracts
2. Project Development and Operation: As integrated developer, owner and operator of low carbon generating assets, Carlton develops, finances, constructs and operates energy projects including hydrogen facilities and battery storage
3. Government Subsidy Support: Revenue support through UK Government's Hydrogen Business Model and Hydrogen Allocation Round, providing 15-year Low Carbon Hydrogen Agreements with Low Carbon Contracts

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Carlton Power is an independent UK energy development company that develops, finances, constructs and operates low-carbon generating assets including green hydrogen production facilities (using PEM electrolysis powered by renewable electricity) and battery energy storage systems. The company develops bespoke on-site hydrogen supply hubs at industrial customer sites under long-term offtake agreements backed by UK Government Low Carbon Hydrogen Agreements.

Product overview

Carlton Power is an independent UK-based energy development company formed in 1995, headquartered in Stokesley, North Yorkshire. The company operates as an integrated developer, owner and operator of low-carbon generating assets with a portfolio spanning green hydrogen production facilities (Barrow Green Hydrogen, Trafford Green Hydrogen, Langage Green Hydrogen), battery energy storage systems (including the Trafford BESS project), and flexible generation assets. The company also incorporates Stag Energy following a merger, expanding capabilities in distributed hydrogen electrolysis, grid stability services, and renewable storage projects. All three initial green hydrogen projects received funding support from DESNZ under the UK Government's Hydrogen Business Model and Hydrogen Allocation Round 1.

Differentiator

Problem solved

Functional benefit

Brands

• Green Hydrogen Energy Company (GHECO): Joint venture between Schroders Greencoat and Carlton Power focused on developing green hydrogen production facilities in the UK, targeting 200MW portfolio by 2030.

Products and services

• Green Hydrogen Production Facilities
• Barrow Green Hydrogen
• Trafford Green Hydrogen
• Langage Green Hydrogen
• Battery Energy Storage Systems (BESS)
• Trafford Low Carbon Energy Park
• Carlton Carbon (Carbon Credits)

Quantifiable outcome

• 2200MW delivered representing 8% of UK gas fired CCGTs
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Dalkia UKcoreImplementation/ SI/ Consulting Partner · 20 May 2026Dalkia UK awarded contract to provide design and installation services for the 30MW Barrow Green Hydrogen plant. Dalkia Engineering will construct the facility using Plug Power electrolyzers.
• Plug PowercoreTechnology or IntegrationPlug Power selected to supply 55 MW of GenEco PEM electrolyzers across three green hydrogen projects (Barrow, Trafford, Langage). This represents the largest combined electrolyzer supply contract in UK history. Plug Power will provide equipment, installation, and long-term service support for the hydrogen production facilities.
• Stag EnergycoreStrategic or Co-development PartnerAfter nearly 20 years of successful project development in the UK energy sector, Stag Energy merged with Carlton Power to develop a portfolio of innovative energy projects in hydrogen and electricity sectors, focusing on green hydrogen production, grid stability, and renewable storage developments.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Regional players

• HyNet North West: North West England hydrogen and CCUS cluster project targeting the same industrial decarbonization offtake base (including brick, chemicals, and refinery customers) where Carlton Power is also developing Trafford Green Hydrogen.

Broad incumbents

• RWE: European utility with a multi-GW UK and European hydrogen roadmap and integrated renewables-to-hydrogen project pipeline. Comparable in pursuing industrial offtake and subsidy-supported project economics, though at much larger scale.
• Equinor: Global energy major with a stated hydrogen roadmap including UK projects (e.g., H2H Saltend, East Coast Cluster). Competes for the same UK Hydrogen Allocation Round funding and industrial offtakers but with vastly larger balance sheet and broader portfolio.
• bp: Integrated energy major with significant UK and European hydrogen ambitions, including the HyGreen Teesside project. Competes for industrial decarbonization offtake and subsidy allocation at scale that smaller developers like Carlton Power cannot match.
• National Grid: UK transmission system operator and owner of grid infrastructure that Carlton Power's BESS, LAES, and hydrogen projects interconnect to. Not a direct competitor but the dominant counterparty whose investment cadence determines Carlton's grid-revenue upside.
• Shell: Global energy major with UK hydrogen projects (e.g., Shell Aberdeen / Shell Netherlands) and a stated pivot toward integrated power-and-hydrogen offerings. Comparable as a competing developer in the same industrial offtake and government-subsidy ecosystem.
• SSE: UK-listed utility developing hydrogen, wind, and flexible generation projects. Overlaps with Carlton Power in grid-scale low-carbon generation development and participation in UK hydrogen policy frameworks, though SSE operates a far broader portfolio.

Direct peers

• Statkraft: European renewables major actively developing green hydrogen projects in the UK and Norway using renewable electricity and PEM/alkaline electrolysis. Comparable as an integrated renewable-power-to-hydrogen developer targeting industrial offtakers in similar regulatory frameworks.
• ITM Power: UK-based PEM electrolyzer manufacturer and hydrogen project developer pursuing the same UK green hydrogen offtake opportunities (e.g., with industrial customers and under Hydrogen Allocation Rounds). Closely comparable in technology choice, customer profile, and reliance on UK government hydrogen subsidy frameworks.

Emerging players

• Octopus Energy: UK renewable energy retailer and developer that has entered green hydrogen project development through Kraken Flex and partner-led hydrogen ventures. Emerging as a competing UK developer with strong retail-customer demand-side platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carlton Power