Great British Energy and the Government are to invest £86.5m in a UK-first hydrogen project in South Yorkshire.

ITM Power UK in South Yorkshire has received £40m investment from Great British Energy alongside a £46.5m Government grant in principle, to deliver a major expansion of hydrogen electrolyser technology and manufacturing in the UK.

Dennis Schulz, CEO of ITM said: “The UK Government’s support, through a combination of equity participation and grant funding, marks a pivotal step in establishing ITM at the centre of the UK’s hydrogen economy and firmly positions us as a natural partner for projects in the UK. The funds will enable the build-out of large-scale domestic manufacturing of our next-generation Chronos platform, underpinning confidence in our technology and sustained growth.”

The Great British Energy investment is their single largest investment to date and comes from its Energy Engineered in the UK programme announced in December, a £1bn scheme aimed at investing in UK-based clean energy supply chains.

Under the investment, Great British Energy will become a shareholder in the company.

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