UK launches national hydrogen plan for investment

The United Kingdom has now launched its long-anticipated hydrogen strategy, a national and comprehensive plan developed to unlock more than four billion pounds’ worth of investment by the year 2030.

Following its success in harnessing offshore wind power, the UK has now switched focus to low-carbon hydrogen, introducing its goal to ensure there is production capacity worth five gigawatts over the next 10 years, including no less than 1.8 gigawatts of the fuel known as blue hydrogen. This product is created via the capture and storage of carbon dioxide during natural gas-to-H2 processes.

This new capability will power businesses and transport, particularly in heavy industry, while being mixed with natural gas in order to answer energy requirements to heat UK homes. In a statement, UK Secretary for Business and Energy Secretary, Kwasi Kwarteng, commented:

“Today marks the start of the U.K. hydrogen revolution. This home-grown clean energy source has the potential to transform the way we power our lives and will be essential to tackling climate change and reaching net zero.”

The secretary added that the scheme has the potential to deliver around one third of the nation’s energy requirements in the future, positioning the UK first in the worldwide race to step up the development and application of hydrogen technology, seizing private investment opportunities.

Individuals and enterprises seeking expert investment advice in Chester, Manchester and other UK cities in Northern England can rely on wealth management firms for strong support. From proving guidance on available asset classes to establishing effective portfolios that balance risk with return, they can be a valuable ally to consumers and companies alike.

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