Major UK investment fuels ITM Power’s next generation technology

The UK has taken another step forward towards clean homegrown energy, with over 400 new jobs announced in a major hydrogen investment in South Yorkshire.

ITM Power in South Yorkshire has announced a £40 million investment from Great British Energy, the UK’s publicly owned energy company, alongside a £46.5 million government grant in principle, to deliver a major expansion of hydrogen technology manufacturing in the UK. This marks Great British Energy’s largest investment in clean, homegrown power to date.

The conflict in the Middle East has shown once again the need to take back control of Britain’s energy with clean, homegrown power to get off the fossil fuel rollercoaster. Since July 2024, the government has secured over £90 billion of private investment in clean energy in the UK. This builds on major industrial projects given the greenlight such as Sizewell C, which will support 10,000 jobs at peak construction, and the HyNet and East Coast Cluster carbon capture projects that are set to create over 4,000 jobs in the North West and Teesside.

Image ©ITM Power

This latest investment delivers a further 400 jobs and it marks the next industrial chapter for South Yorkshire, establishing the region as the home of Europe’s largest electrolyser factories. It will support a 1 GW expansion of ITM’s South Yorkshire facility, with skilled jobs in manufacturing and construction locally and across the wider supply chain.

This investment will accelerate the delivery of ITM’s next-generation electrolyser technology – known as ‘Chronos’ – which has the potential to reduce costs, enhance energy efficiencies for businesses and speed up the adoption of green hydrogen across the country.

This investment will strengthen UK electrolyser manufacturing, delivering a significant breakthrough for Britain’s hydrogen industry and industrial strategy - with opportunities to reduce emissions in vital industrial sectors, create skilled jobs across the country and lowering businesses’ reliance to volatile fossil fuel markets through clean, homegrown energy.

Dennis Schulz, CEO of ITM Power, said: “We are grateful for the confidence and support demonstrated by the UK government. Clean power increasingly underpins energy sovereignty and resilience, which are critical to long-term economic success.

The UK government’s support, through a combination of equity participation and grant funding, marks a pivotal step in establishing ITM at the centre of the UK’s hydrogen economy and firmly positions us as a natural partner for projects in the UK.

The funds will enable the build-out of large-scale domestic manufacturing of our next-generation Chronos platform, underpinning confidence in our technology and sustained growth.”

Today’s announcement of Great British Energy’s investment means they will become a shareholder in ITM moving forward - demonstrating what the company was created to do: accelerate the rollout of clean, homegrown power, boost energy security and give the British people a stake in Britain’s energy system.

For more information, visit www.itm-power.com.