The Department for Business, Energy and Industrial Strategy (BEIS) has revealed that Kwasi Kwarteng, Business and Energy Secretary, will meet with industry players later today at the Hydrogen Investment Summit in the hope of giving investors confidence in hydrogen.
It comes as the Government plans to unlock £9bn ($10.8bn) of investment to make hydrogen a cornerstone of the UK’s greener future, supporting a move away from fossil fuels.
Read more: Hydrogen set to benefit from£9.7bn international trade and investment package
The move comes as an important step in delivery the Government’s ambitions to have 1GW of electrolytic hydrogen in operation or construction by the end of 2025, and overall goals of boosting hydrogen production to 10GW by 2030.
H2 View understands that Greg Hands, Energy Minister will reveal the opening of the joint allocation round for electrolytic green hydrogen projects, making funding from the Net Zero Hydrogen Fund and the Hydrogen Business Model (HBM) available.
Kwarteng commented, “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.”
In addition to the anticipated funding announcement, the Business and Energy Secretary, will also announce Jane Toogood, Chief Executive of Catalyst Technologies at Johnson Matthey as the UK’s first Hydrogen Champion.
The role will see Toogood play a vital role in bringing industry and government together to realise the Government’s hydrogen ambitions, by helping drive industry investment and deployment.
Commenting on Toogood’s appointment, Kwasi Kwarteng, Business and Energy Secretary, said, “I look forward to working with Jane Toogood as our new Hydrogen Champion, ensuring industry and government are aligned to accelerate hydrogen production as a clean, home grown energy source – boosting our energy security and creating jobs.”
Jane Toogood © Johnson Matthey
Jane Toogood, said, “The Government has ambitious plans for the UK to ramp up hydrogen technology. Hydrogen deployment as a clean energy source is one of the key solutions to help the UK reach its Net Zero targets and I strongly believe there is an opportunity to accelerate this, working collaboratively across industry and government to land projects and infrastructure on a timeline that serves stakeholder and customers’ needs.
“At Johnson Matthey, we see that demand for hydrogen ecosystems globally is being taken up across industry, transportation and the power sector at a rapid pace, especially with the increased focus on energy security.
“As the UK’s Hydrogen Champion, working with industry and Government, I hope to ensure we make progress in building a thriving hydrogen economy ensuring private sector investment and policy decisions are aligned to support timely decisions and outcomes.“
Clare Jackson, Chief Executive of Hydrogen UK, added, “Jane Toogood’s appointment as the UK’s first Hydrogen Champion, and opening of the joint allocation round for green hydrogen projects, is a welcome statement of intent from the government.
“Hydrogen UK looks forward to working closely with policy officials to review progress against the landmark Hydrogen Strategy of 2021, and to setting ambitious goals for the future as we work together to build a British hydrogen economy, which is crucial if we are to reach our much-needed Net Zero goals.”
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