Home Business News Government to ‘unlock £4bn’ of hydrogen investment by 2030 which will be ‘invaluable’ for the ‘UK’s industry and healthcare’

Government to ‘unlock £4bn’ of hydrogen investment by 2030 which will be ‘invaluable’ for the ‘UK’s industry and healthcare’

by LLB staff reporter
27th Nov 22 2:29 pm

The government announced back in August that they want the UK to be a world leading hydrogen economy which will create “tens of thousands of jobs” and there will be “billions of pounds of investment” through export opportunities.

The government said that they plan to create a thriving low carbon hydrogen sector in the UK over the next decade and beyond.

The UK government will work with industry to meet its ambition for 5GW of low carbon hydrogen production capacity by 2030.

This is the equivalent of replacing natural gas in powering around 3 million UK homes each year as well as powering transport and SMEs, particularly heavy industry.

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Downing Street claims that the UK’s hydrogen economy could be worth £900 million and create over 9,000 high-quality jobs by 2030, potentially rising to 100,000 jobs and worth up to £13 billion by 2050.

Hydrogen will play an important role in decarbonising polluting, energy-intensive industries like chemicals, oil refineries, power.

Heavy transport like shipping, HGV lorries and trains, by helping these sectors move away from fossil fuels. Low-carbon hydrogen provides opportunities for UK companies and workers across the UK’s industrial heartlands.

Analysts have suggested that 20-35% of the UK’s energy consumption by 2050 could be hydrogen-based.

Hydrogen will be critical to meet the targets of net zero emissions by 2050 and cutting emissions by 78% by 2035, this is a view which has been shared by the UK’s independent Climate Change Committee.

A spokesperson for H2OPE Group told LondonLovesBusiness.com, “This government initiative will be invaluable in highlighting the benefits of hydrogen energy to UK industry and healthcare.

“Being an island we often treat water for granted but it may yet become our most valuable resource and understanding water at the molecular level will cement the UK’s place as world innovators .”

H2OPE Group have invented a more efficient way of hydrogen generation, storage and application which uses very little electricity making it more cost effective for SMEs given the current climate and can use waste water.

SMEs would hugely benefit from the H2OPE generators as the current hydrogen systems because of their inefficiencies because they require almost as much energy as they generate meaning carbon neutral is harder to achieve.

The current systems have inferior filtering which means they need to use clean water unlike H2OPE generators which can use waste water which helps becoming carbon negative.

The current solutions are expensive to buy and install which requires SMEs to get capital investment unlike the H2OPE Group’s new innovations.

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