Apr 15, 2025
UK companies aim to secure £6.5 billion for a large-scale hydrogen project.
A group of major energy and industrial companies in the UK has unveiled plans for a £6.5 billion hydrogen “mega-project.”
Project HySpeed, led by HydraB Power and supported by firms like Centrica, JCB, ITM Power, Johnson Matthey, Heidelberg Materials, and National Gas, aims to achieve 1GW of green hydrogen capacity by 2030.
The initiative plans to establish a national network of hydrogen production hubs to supply energy-intensive industries such as steel, glass, and cement through the gas grid, eliminating the need for these sectors to invest in new onsite hydrogen facilities.
The project is projected to generate approximately 24,300 jobs and contribute to a reduction of one million tonnes of CO2 emissions annually.
It also seeks to lower the cost of green hydrogen by purchasing equipment in bulk and ensuring at least 50% UK content in construction.
Furthermore, the project is expected to add around £2 billion per year in Gross Value Added and assist the government in achieving its goal of 480,000 skilled net-zero jobs by 2030.
Chris O’Shea, CEO of Centrica, stated that "Hydrogen can play a crucial role in tackling emissions from sectors that other clean energy sources can’t easily reach. It can be used to power the UK when the sun doesn’t shine and the wind doesn’t blow.”
Project HySpeed, led by HydraB Power and supported by firms like Centrica, JCB, ITM Power, Johnson Matthey, Heidelberg Materials, and National Gas, aims to achieve 1GW of green hydrogen capacity by 2030.
The initiative plans to establish a national network of hydrogen production hubs to supply energy-intensive industries such as steel, glass, and cement through the gas grid, eliminating the need for these sectors to invest in new onsite hydrogen facilities.
The project is projected to generate approximately 24,300 jobs and contribute to a reduction of one million tonnes of CO2 emissions annually.
It also seeks to lower the cost of green hydrogen by purchasing equipment in bulk and ensuring at least 50% UK content in construction.
Furthermore, the project is expected to add around £2 billion per year in Gross Value Added and assist the government in achieving its goal of 480,000 skilled net-zero jobs by 2030.
Chris O’Shea, CEO of Centrica, stated that "Hydrogen can play a crucial role in tackling emissions from sectors that other clean energy sources can’t easily reach. It can be used to power the UK when the sun doesn’t shine and the wind doesn’t blow.”