The Department for Business, Energy and Industrial Strategy has rolled out its new Net Zero Hydrogen Fund, a £240million endeavour that looks to finance the development and deployment of new low carbon hydrogen production. As the UK shifts away from using fossil fuels like oil and natural gas, hydrogen, especially ones produced through renewable means, has been tipped to be key player in the Net Zero energy sector.
As the UK shifts away from using fossil fuels like oil and natural gas, hydrogen, especially ones produced through renewable means, has been tipped to be key player in the Net Zero energy sector.
Hydrogen produced from clean sources is expected to phase out and ultimately replace natural gas, however, the technology has not yet reached its full potential.
Through the new fund, the Government is looking to accelerate the development of green hydrogen
Business Secretary Kwasi Kwarteng tweeted: “Today, our £240million Hydrogen Fund opens for business, backing the development of hydrogen as the clean superfuel of the future, produced right here in the UK.”
This comes as UK scientists reach a major milestone in creating this “superfuel of the future”, making it cheaper to produce by using iron instead of platinum.
Project leader Professor Anthony Kucernak, of Imperial College London, said: “Currently, around 60 percent of the cost of a single fuel cell is the platinum for the catalyst.
“To make fuel cells a real viable alternative to fossil-fuel-powered vehicles, for example, we need to bring that cost down.
“Our cheaper catalyst design should make this a reality, and allow deployment of significantly more renewable energy systems that use hydrogen as fuel, ultimately reducing greenhouse gas emissions and putting the world on a path to net-zero emissions.”
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