Union Jack waving in the wind.
Most of the money will be used to fund hydrogen-related projects
The UK government has pledged £375 million to develop next generation energy technology to power UK homes and businesses, as it seeks to move the country away from its reliance on overseas markets.
Most of the money — £240 million — will be used to support hydrogen production and adoption projects, with funding allocated later this year.
The government wants to have up to 2GW of low-carbon hydrogen production capacity by 2025 and up to 10GW installed by 2030, using electricity to produce power from water by splitting water into hydrogen and oxygen to create a fuel for industry.
Earlier this week, the government hailed a potential clean power breakthrough after a University of Oxford spin-out successfully demonstrated a cheap new way to generate nuclear power.
Kwarteng said First Light Fusion’s technology “could potentially revolutionise power production in the coming decades”.
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