The country’s leading hydrogen trade association has praised a cash injection of a further £120M increase for the Green Industries Growth Accelerator (Giga) fund in the Spring Budget.
CEO of The Hydrogen Energy Association (HEA) Celia Greaves, who is working with the government to shape Giga to help the UK hydrogen industry to flourish, said the announcement from Chancellor of the Exchequer Jeremy Hunt was a “valuable leap forward” for the expansion of low carbon manufacturing supply chains in the UK.
She said: “Giga has the potential to release billions in private investment in clean energy supply chains to provide products and services and will be critical for the continued development and deployment of hydrogen in the UK.
“We have been invited by the Department for Energy Security and Net Zero to facilitate input to a Call for Evidence on the funding package to support the expansion of strong, home-grown, clean energy supply chains across the country, for hydrogen and carbon capture, utilisation and storage (CCUS), as well as electricity networks, nuclear and offshore wind.
“Our input – from an association representing 120 members across the full-value chain – will help them to better understand the manufacturing project pipeline and the issues faced by the supply chain, and ultimately support DESNZ in gauging hydrogen market readiness for Giga funding, ahead of intended scheme launch in the summer of 2024.
“We are now entering a period of unprecedented growth for the UK hydrogen economy and this sort of funding could provide that valuable leap forward for the UK to continue to be a world leading place to invest in hydrogen.”
The Giga fund is part of a wider £4.5bn package of funding for manufacturing to support private sector investment in strategic sectors across the UK.
Energy security secretary Claire Coutinho said: “We are backing our green industries with extra cash for the Giga, taking the total to more than £1bn.
“We have long been energy pioneers in advanced manufacturing, and this will allow us to carry on that great British tradition. While we have attracted £300bn in low carbon investment since 2010, with £24bn since September alone, this will help to unlock even more.”
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