Hydrogen: Investment

Department for Business, Energy and Industrial Strategy written question – answered on 17th July 2020.

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Photo of Greg Smith Greg Smith Conservative, Buckingham

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to support private investment in the UK's hydrogen sector.

Photo of Kwasi Kwarteng Kwasi Kwarteng The Minister of State, Department for Business, Energy and Industrial Strategy

It is clear, there is growing interest in the Hydrogen sector and we are in regular discussions with businesses about their investment plans for hydrogen projects. The Government is currently investing up to £121 million in hydrogen innovation, supporting a range of projects exploring the potential of low carbon hydrogen across the value chain. Alongside our innovation activity, we are developing sustainable business models to support hydrogen production and will be engaging with Industry on the £100m Low Carbon Hydrogen Fund later this year. We are undertaking extensive stakeholder engagement as we develop new policy to help bring forward the technologies and supply chains, we will need to grow the UK hydrogen economy. As part of this we are looking to formalise regular engagement between Government and industry to discuss and drive development of the UK hydrogen economy. This will consider how we can best work together to encourage increased private sector investment in hydrogen projects, growing the hydrogen supply chain and providing clean growth and new jobs across the UK.

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