Business Secretary Kwasi Kwarteng met on Thursday with industry leaders to reaffirm the government's commitment to unlocking £9bn of investment towards kickstarting a major roll-out of new clean super-fuel and transforming the UK into a hydrogen-based economy.
As part of this hydrogen push, the UK government launched the world’s first national clean-hydrogen subsidy scheme, which will help finance an initial 1GW of green hydrogen projects by 2025 – enough hydrogen to fuel up to 45,000 buses per year.
The funding for electrolytic (‘green’) hydrogen projects − a method which uses an electrical current to separate hydrogen from oxygen in water − will come from both the Net Zero Hydrogen Fund and the Hydrogen Business Model.
"The UK’s hydrogen sector is open for business. With the right investment, we can unlock the enormous potential of hydrogen by reindustrialising our economy and ending our dependency on expensive fossil fuels," Kwarteng...