The venture will initially focus on hydrogen-fuelled power generation, using fossil fuels and carbon capture and storage technology to produce new large-scale supplies of “clean” electricity.

Decarbonised energy projects involve converting fossil fuels – such as natural gas, coal and petroleum coke (a refinery by-product) – to hydrogen and carbon dioxide gases, with the CO2 being captured and stored in geological formations.

In power projects, the hydrogen would be used to fuel a gas turbine for generation of industrial-scale supplies of electrical power.

The partners said that full integration of CCS technology would geosequester 90% of the CO2 that would have otherwise been emitted into the atmosphere.

Hydrogen Energy will benefit from the world-leading capabilities of both parent companies: Rio Tinto’s expertise and world-class assets in coal extraction and supply; and BP’s experience and expertise in chemical processing, low carbon power generation and carbon capture and storage.

Hydrogen Energy will be headquartered in Weybridge in the southeast of England and will initially have a staff of 75 seconded from the parent companies.