Written question asked by Jane Hunt (Conservative) on Monday, 12 December 2022, in the House of Commons. It was due for an answer on Wednesday, 14 December 2022. It was answered by Graham Stuart (Conservative) on Thursday, 22 December 2022 on behalf of the Department for Business, Energy and Industrial Strategy.

Hydrogen: Finance

Question: To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will make an assessment of the potential development of (a) facilities and (b) technologies that could result from funding in hydrogen in (i) regions across the UK and (ii) the East Midlands.

Answer: The Energy Security Strategy doubled its ambition from 5GW to 10GW for low carbon production capacity by 2030 and will drive significant private sector investment across the value chain via the Hydrogen Business Model. The UK Hydrogen Strategy supports multiple production technologies with low carbon hydrogen providing opportunities for UK companies and workers across the UK. The Government analysis suggests that the sector could support over 12,000 jobs and unlock over £9 billion in private investment by 2030. The Net Zero Innovation Portfolio, a UK-wide £1 billion fund, will accelerate the commercialisation of innovative low-carbon technologies, systems and business models through the 2020s.

Secondary information