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.
by Matt Mace Published 6th April 2022
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.