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Hydrogen projects take big slice of UK's new GBP-90m funding package

EMEC hydrogen storage cylinders (Credit Colin Keldie)

February 18 (Renewables Now) - The UK government announced on Tuesday it seeks to tackle emissions from homes and the heavy industry with a GBP-90-million (USD 117.3m/EUR 108.5m) funding package that includes support for a number of notable green hydrogen projects, among other initiatives.

The package provided by the Department for Business, Energy and Industrial Strategy (BEIS) includes a Hydrogen Supply programme with GBP 28 million allocated for five demonstration phase projects. Among them are the Gigastack project led by ITM Power Plc (LON:ITM) and the Dolphyn pilot by the Environmental Resources Management Limited (ERM), each of which revolves around offshore wind power generation.

The table below gives more details about the financing under the Hydrogen Supply programme.

Project Name Leading Body Funding Received
Dolphyn Project Environmental Resources Management Ltd GBP 3.12m
HyNet Progressive Energy Limited, in collaboration with Johnson Matthey, SNC Lavalin and Essar Oil GBP 7.48m
Gigastack ITM Power Trading Ltd, in collaboration with Orsted, Phillips 66 and Element Energy GBP 7.5m
Acorn Project Pale Blue Dot Energy GBP 2.7m
HyPER Cranfield University, in collaboration with Gas Technology Institute and Doosan GBP 7.44m

The overall funding package also includes GBP 18.5 million for four demonstration phase projects under an Industrial Fuel Switching programme. The remaining financing is coming from UK Research and Innovation (UKRI), with GBP 21 million set aside for local smart energy design demos, GBP 3 million to projects behind the category “Key Technology Components for Local Energy Systems”, and GBP 22 million for research into challenges in reaching net zero posed by heating, transport and global fuel markets.

More details about the various awardees are available here.

(GBP 1.0 = USD 1.303/EUR 1.205)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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