{"id":2152929,"date":"2026-04-09T08:06:51","date_gmt":"2026-04-09T07:06:51","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/yorkshire\/?p=2152929"},"modified":"2026-04-09T08:06:51","modified_gmt":"2026-04-09T07:06:51","slug":"itm-power-secures-86.5m-government-backed-boost-to-scale-hydrogen-technology","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/yorkshire\/news\/2152929-itm-power-secures-86.5m-government-backed-boost-to-scale-hydrogen-technology","title":{"rendered":"ITM Power secures \u00a386.5m government-backed boost to scale hydrogen technology"},"content":{"rendered":"<p data-start=\"83\" data-end=\"319\"><span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">ITM Power<\/span><\/span> has secured a major funding package worth up to \u00a386.5m, combining equity investment and grant support from the UK government to accelerate the rollout of its next-generation electrolyser technology.<\/p>\n<p data-start=\"321\" data-end=\"594\">The Sheffield-based hydrogen specialist confirmed it has raised \u00a340m through a non-pre-emptive subscription from <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Great British Energy Group<\/span><\/span>, alongside a proposed \u00a346.5m grant from the <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Department for Energy Security and Net Zero<\/span><\/span> (DESNZ), subject to regulatory approval.<\/p>\n<p data-start=\"596\" data-end=\"923\">The funding will underpin the development of a new large-scale automated manufacturing line in the UK, focused on producing ITM Power\u2019s next-generation Chronos electrolyser stacks. The facility is expected to deliver annual capacity of up to 1GW, marking a significant step-up in domestic hydrogen manufacturing capability.<\/p>\n<p data-start=\"925\" data-end=\"1091\">The combined backing represents a strong endorsement of the company\u2019s technology and delivery credentials, following extensive technical and commercial due diligence.<\/p>\n<p data-start=\"1093\" data-end=\"1232\">Chief executive <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Dennis Schulz<\/span><\/span> said the deal places the business at the heart of the UK\u2019s emerging hydrogen economy.<\/p>\n<p data-start=\"1234\" data-end=\"1432\">He said: \u201cThe UK government\u2019s support\u2026 marks a pivotal step in establishing ITM Power at the centre of the UK\u2019s hydrogen economy and firmly positions us as a natural partner for projects in the UK.\u201d<\/p>\n<p data-start=\"1434\" data-end=\"1655\">Schulz added that the investment will enable large-scale domestic production of the Chronos platform, which promises improved energy efficiency and lower costs, helping to accelerate industrial adoption of green hydrogen.<\/p>\n<p data-start=\"1657\" data-end=\"1801\">The funding package also strengthens the group\u2019s financial position, with ITM Power upgrading its FY26 cash guidance to between \u00a3210m and \u00a3215m.<\/p>\n<p data-start=\"1803\" data-end=\"1963\">Energy Secretary <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Ed Miliband<\/span><\/span> said the investment demonstrates the government\u2019s commitment to clean energy and industrial regeneration.<\/p>\n<p data-start=\"1965\" data-end=\"2148\">He said: \u201cThis investment is the Government\u2019s clean energy mission in action \u2013 rebuilding our energy security with clean homegrown power and good industrial jobs for South Yorkshire.\u201d<\/p>\n<p data-start=\"2150\" data-end=\"2273\">Miliband added that the plans would help create skilled jobs and support economic growth in traditional industrial regions.<\/p>\n<p class=\"cb\"><span class=\"bz\">Dennis Schulz, CEO of ITM Power, said:<\/span>\u00a0<span class=\"bz\">&#8220;We are grateful for the confidence and support demonstrated by the UK government. Clean power increasingly underpins energy sovereignty and resilience, which are critical to long-term economic success against a backdrop of recent geopolitical instability.<\/span><\/p>\n<p class=\"cb\"><span class=\"bz\">&#8220;The UK government&#8217;s support, through a combination of equity participation and grant funding, marks a pivotal step in establishing ITM Power at the centre of the UK&#8217;s hydrogen economy and firmly positions us as a natural partner for projects in the UK.<\/span><span class=\"bz\">&#8220;<\/span><\/p>\n<p data-start=\"2563\" data-end=\"2719\">The proposed DESNZ grant remains subject to scrutiny under the Subsidy Control Act, with a decision expected in June 2026 before funds are formally awarded.<\/p>\n<p data-start=\"2721\" data-end=\"2916\" data-is-last-node=\"\" data-is-only-node=\"\">If approved, the combined investment will support ITM Power\u2019s ambitions to scale production, grow market share, and move closer to profitability as demand for hydrogen infrastructure accelerates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funding will underpin the development of a new large-scale automated manufacturing line in the UK, focused on producing ITM Power\u2019s next-generation Chronos electrolyser stacks<\/p>\n","protected":false},"author":271992,"featured_media":2142622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262,120781,120780],"coauthors":[137100],"class_list":["post-2152929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-markets","category-sustainability","tag-featured-story","tag-yorkshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ITM Power secures \u00a386.5m government-backed boost to scale hydrogen technology | TheBusinessDesk.com<\/title>\n<meta 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