Tim Harper | 31 October 2026
I founded Element 2 in 2020 with the ambition of building a national hydrogen refuelling infrastructure business capable of supporting the decarbonisation of heavy commercial transport.
Over the following four years, I led the development of the company, assembling its team, securing investment, developing commercial relationships and establishing Element 2 as a recognised participant in the emerging UK hydrogen economy.
We built a business with substantial ambitions and attracted the support of investors who shared our belief in the commercial potential of hydrogen infrastructure.
I remain proud of what we achieved.
I stepped down as Chief Executive and director in December 2024. Since then, I have had no responsibility for the company’s executive management, financial decisions or operational strategy.
It is therefore deeply disappointing to see Element 2, less than two years later, facing proceedings that threaten its continued existence.
Element 2’s present financial position
On 30 October 2026, a winding-up petition presented by HMRC against Element 2 Limited was advertised in The Gazette.
Separately, an application has been made to the High Court in Manchester seeking to place the company into administration.
These are serious developments. Although neither proceeding, by itself, establishes that the company has entered liquidation or administration, they demonstrate the severity of the financial difficulties now confronting Element 2.
The company’s directors have been responsible for its management and financial affairs since my departure. Whatever the underlying causes of the present difficulties, the company has reached this position under their stewardship.
That is an uncomfortable fact, but an important one.
The consequences extend beyond the company itself. Investors have committed capital, creditors have provided financial support, employees have invested their time and expertise, and commercial partners have placed confidence in Element 2’s plans.
All deserve clarity about what happens next.
The need for accountability and transparency
The immediate priority must be to establish whether a viable future can be secured for the business.
However, resolving the immediate financial crisis should not mean avoiding scrutiny of how it arose.
I believe shareholders and creditors are entitled to understand the circumstances that led to the present position, the steps taken to address the company’s financial difficulties and whether alternative courses of action were adequately considered.
These are legitimate questions whenever a company faces insolvency, particularly where substantial external investment has been committed.
The fact that a business encounters financial difficulties does not, in itself, establish misconduct or negligence by its directors. Equally, the existence of commercial challenges should not remove the need for accountability.
An independent examination of the company’s financial and governance history would help establish the facts and provide confidence in whatever happens next.
What a credible rescue must deliver
I understand that options may be under consideration to preserve Element 2’s business or assets.
I support efforts to preserve commercially viable operations, protect employment and retain the value created through years of investment and development.
However, a credible rescue must do more than address the immediate financial crisis. It must also address the circumstances that allowed the company to reach this position.
Any proposal should demonstrate:
- A commercially credible and adequately financed business plan.
- Transparent governance and clear accountability.
- Proper consideration of the interests of creditors and other stakeholders.
- Independent scrutiny of any proposed asset transfers, particularly where connected parties are involved.
- A management and governance structure capable of restoring investor and customer confidence.
A restructuring that simply transfers the business into a new corporate vehicle, without addressing the underlying causes of its difficulties, risks reproducing the problems it is intended to resolve.
The question is not simply whether Element 2’s assets or operations can be preserved. It is whether a sustainable business can emerge from the process.
Exploring an alternative future
I continue to believe that the commercial opportunity which led me to establish Element 2 remains relevant.
Hydrogen refuelling infrastructure has an important potential role in supporting the decarbonisation of heavy commercial transport, particularly in applications where vehicle utilisation, operating range and refuelling requirements present challenges for battery-electric alternatives.
However, developing that opportunity requires disciplined execution, realistic financial planning and the confidence of investors and customers.
I am exploring whether a credible alternative rescue can be developed, either through a solvent restructuring or, if necessary, an appropriate insolvency process.
Any such proposal would need to be independently financed, commercially sustainable and structured in accordance with the applicable legal requirements.
My interest is in preserving the viable elements of the business and the commercial opportunities that originally justified its creation.
I would welcome discussions with investors, creditors, industry partners and other interested parties who share that objective and wish to explore an alternative approach.
Investors, creditors, industry partners and other interested parties wishing to discuss a potential alternative rescue are welcome to contact me through this website.
Looking ahead
Element 2’s present difficulties are disappointing, but they should not be taken as a verdict on the future of hydrogen infrastructure in the United Kingdom.
The sector faces genuine commercial challenges. Addressing them requires sound economics, credible demand, patient investment and competent management.
Those principles were central to the ambition behind Element 2 when I founded it.
I hope that the company’s current difficulties can be resolved in a way that protects legitimate stakeholder interests and preserves whatever commercial value remains.
But whatever form a rescue takes, the lessons of the company’s present financial crisis must not be ignored.
The investors, creditors and employees who supported Element 2 deserve nothing less.
Tim Harper
Founder and former Chief Executive
Element 2 Limited
This statement reflects my personal views as at 31 October 2026. I am acting independently and do not represent Element 2 Limited or its current board.