£9.2m secured for next generational clean fuel development
Energy storage and clean fuel business ITM Power has received a share of £60m of government funding designed to back the UK development of hydorgen as an affordable, renewable, green energy source.
The Sheffield-based business which has been at the front of electrolyser development has been awarded £9.m to build the next generation 5MW electrolyser stack – an industrial tool which separates hydrogen from oxygen in a vat of water using electricity.
The company is looking to create the lowest cost green hydrogen solution to market and the funding comes as part of the Net Zero Innovation Portfolio which is looking to accelerate commercialisation of low carbon technologies,
Graham Cooley, CEO at ITM Power said: “The UK Government has put green hydrogen at the centre of its plans to achieve its legislated Net Zero targets. This was underlined by the recent doubling of green hydrogen to 5 GW in the Energy Strategy published last month. Awards under competitions like this will ensure that the UK remains a world leader in energy transition technology and manufacture, creating jobs, new supply chains and valuable high-tech exports.”
Greg Hands, Energy Minister at BEIS, added: “The UK is truly leading the world in hydrogen innovation thanks to the exciting efforts of companies like ITM Power.
“The government support which they have received today will help to boost the development of hydrogen as the clean, affordable, homegrown superfuel of the future.”