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£20 million boost for business innovators powering UK’s hydrogen economy announced in Swindon

May 21, 2018

£20 million boost for business innovators powering UK’s hydrogen economy announced in Swindon

Energy and Clean Growth Minister Claire Perry has delivered a £20 million boost to businesses, embracing the potential for a future UK hydrogen economy. The announcement was made during a visit to Swindon’s innovative Hydrogen Hub and dynamic start-up company, Recycling Technologies. It is the latest clean technology to receive a government boost – all part of the Clean Growth Strategy – which is already powering wind turbines up and down the country – and has the potential to revolutionise the automotive industry through clean green fuel.

Hydrogen fuel is a safe and low-carbon alternative for energy in buildings, industry, and transport – but is currently very costly to produce and transport. Today’s funding aims to change this.

Speaking at the Swindon Hydrogen Hub, Energy and Clean Growth Minister, Claire Perry said:

“Clean, green and safe, hydrogen has an exciting role to play powering the UK but needs to be cheaper and more widely available to live up to its potential. Today’s £20 million funding boost, part of our modern Industrial Strategy, will help to address these challenges so that we can sustain the exciting momentum building in our low carbon hydrogen economy, creating high-value jobs up and down the country.”

The Swindon Hydrogen Hub, part of the UK Hydrogen Hub, consists of over 30 organisations working together to develop projects to deploy hydrogen and fuel cell technology. Working Groups meet quarterly and are focussed on the deployment of different technologies: cars, buses, material handling vehicles and stationary power.

Recycling Technologies are helping in the fight against marine plastic by providing a chemical recycling solution that allows a wide range of plastics to be recycled, which are not practicably recyclable with existing processes. The support of the Department for Business, Energy and Industrial Strategy (BEIS) has enabled the company to transform its novel technology from an original concept developed at Warwick University to a system that is commercially viable.

Paul Britton, CEO of Thames Valley Chamber of Commerce, commented:

“We are delighted that the Energy and Clean Growth Minister chose Swindon as the location from which to announce the Government’s vision for a future UK hydrogen economy. This is excellent news for UK businesses in this sector and also highlights the great innovation in clean technology already taking place in Swindon.”

Find out more here.

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The Chamber of Commerce

Paul Britton
Chief Executive

We work alongside the Department for International Trade (DIT), the region’s Local Enterprise Partnerships (LEPs), Local Authorities and professional service providers to support foreign direct investment (FDI) into the Thames Valley.

For the 2017/18 financial year, we are proud to report that the Thames Valley has retained its status as the number one region in the UK, outside of London, for attracting FDI. 191 FDI projects were recorded as entering the region, with a high proportion of these investors strongly supported by the Chamber.

Contact Paul Britton

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The Thames Valley Chamber is a proven centre of excellence for International Trade and Inward Investment support services. Our team provides practical support to help inbound and established businesses reach their potential. We are one of the largest Chambers accredited by the British Chambers of Commerce in the UK and the only accredited Chamber in the region.