Britain lags behind other countries that are throwing subsidies at the low-carbon fuel
ITM also partly blamed “incredible inflationary pressures” associated with construction projects more broadly for the decision to scrap its planned second UK factory.
However, others cite insufficient government backing — which leaves Britain at risk of losing out to other countries that are throwing subsidies at the nascent green hydrogen industry.
“There is a prevailing attitude . . . [of] why would [we] pay to do it ourselves when we can let others subsidise it and we can buy it cheaper later,” suggests Jackson, who is also a former chair of the UK Hydrogen & Fuel Cell Association. “That comes from a mindset that is a very free market, libertarian . . . and is not a particularly industrial strategy-grounded mindset.
This year, the UK did launch a £240mn net zero hydrogen fund, although critics point out this is a drop in the ocean compared with EU and US incentives. The UK is also, controversially, backing both green hydrogen and so-called blue hydrogen, which is produced from natural gas with the resultant carbon dioxide captured and stored.
By contrast, more than €10bn of public money in the EU is being channelled into two large cross-border hydrogen projects, dubbed
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