The Government had issued £400m to explore the development of innovative low-carbon technologies such as hydrogen, with reports emerging that a 5GW national capacity target for hydrogen will be doubled to 10GW.

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by Matt Mace Published 6th April 2022

UK Government set to double 2030 hydrogen power target to 10GW

A new 10GW capacity target could be issued, consisting of 50% green hydrogen and 50% blue hydrogen that uses captured carbon

Through the Government’s UK Export Finance, a £400m sustainability-linked loan has been underwritten and given to Johnson Matthey, a London-based conglomerate company specialising in chemicals, batteries and sustainability technologies.

Johnson Matthey will use the loan to assist the development of sustainable productions such as hydrogen and chemicals recycling in a bid to unlock innovative measures to power homes and decarbonise transport. The company has committed to ensuring that 95% of its sales and R&D spend will contribute to sustainable projects by 2030.

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