More than 400 new jobs have been announced in a major hydrogen investment in South Yorkshire with £40m investment from Great British Energy into ITM Power UK.
The cash, which comes alongside a £46.5 million UK Government grant in principle, aims to deliver a major expansion of hydrogen technology manufacturing in the UK.
This latest investment will support a 1GW expansion of ITM’s South Yorkshire facility, with skilled jobs in manufacturing and construction locally and across the wider supply chain.
The factory manufactures electrolysers, which use electricity to split water into hydrogen and oxygen, and are required to deploy green hydrogen at scale. The cash will accelerate the delivery of ITM’s next-generation electrolyser technology – known as ‘Chronos’.
The combined investment comes in addition to the government’s commitment to the hydrogen industry at the Spending Review, where £500 million was confirmed for hydrogen infrastructure.
Energy Secretary, Ed Miliband, said:
“Communities have long been calling out for a new generation of good industrial jobs, and with these plans we answer that call, helping to create an economy in which there is no need to leave your hometown just to find a decent job. Thanks to this government’s commitment to clean energy, a generation of young people in our industrial heartlands can have well-paid secure jobs.
“This has only happened thanks to months of intense collaboration between Great British Energy, our publicly owned energy company, the government and ITM Power. It is time to make and build things in Britain again, and with this Government’s clean energy mission, we will.”
Chancellor of the Exchequer, Rachel Reeves, said:
“Sheffield was the backbone of Britain’s industrial revolution, and today shows our commitment to it being at the forefront of the industries that will shape our future.”
Dan McGrail, CEO of Great British Energy, said:
“This is our Energy Engineered in the UK strategy in action. We are investing in ITM helping them to scale, compete globally and keep vital engineering expertise here 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.”
Mayor of South Yorkshire, Oliver Coppard, said:
“The government’s commitment reinforces South Yorkshire’s status as a globally leading advanced manufacturing region, and positions the Don Valley Corridor as an international hub for hydrogen production.
“Hydrogen is a fast-growing element of our energy mix, and will be essential in our ambitions to create a greener, cleaner South Yorkshire economy. The government’s support means we are one step closer to meeting that challenge.
“Our region powered the UK’s first industrial revolution – this new investment today continues to put us right at the forefront of the next industrial revolution.”
Image courtesy of the UK Government
