The UK Government has today (Oct 19) reaffirmed its strong commitment to both hydrogen and carbon capture technologies, with the launch of a landmark Net Zero Strategy that is set to unlock £90bn ($124bn) of private investment by 2030 as the country strives to achieve net zero by 2050.
Offering a huge boost to the UK hydrogen economy, the strategy includes a £140m ($193m) Industrial and Hydrogen Revenue Support scheme to accelerate industrial hydrogen, as well as carbon capture, in order to bridge the gap between industrial energy costs from gas and hydrogen and throw support behind green hydrogen projects.
As part of this, two carbon capture clusters – Hynet Cluster in North West England and North Wales and the East Coast Cluster in Teesside and the Humber – will be backed by a further £1bn ($1.3bn) of government support. Other carbon capture projects will benefit from the wider Net Zero Strategy scheme.
Mobility is also set to receive a zero-emissions makeover, with an extra £350m ($482m) of the government’s up to £1bn ($1.3bn) commitment to support the electrification of UK vehicles and another £620m for targeted electric vehicle grants and infrastructure for zero-emissions vehicles, such as those powered by hydrogen.
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