Hydrogen technology specialist ITM Power has secured over £86 million in backing from UK government bodies to advance its green hydrogen production capabilities.
The Sheffield-based company announced that publicly-owned Great British Energy has invested £40 million through a share subscription, while the Department for Energy Security and Net Zero plans to provide a £46.5 million grant.
This funding will support ITM Power’s efforts to manufacture its next-generation Chronos electrolyser stack technology, with plans to establish a large-scale, automated manufacturing line in the UK capable of producing 1GW annually of Chronos units – technology that the company reports has already attracted strong orders.
Dennis Schulz, CEO of ITM Power, expressed gratitude for the government’s confidence and support, noting that clean power increasingly underpins energy sovereignty and resilience – critical factors for long-term economic success amid recent geopolitical instability.
Schulz characterized the UK government’s combined equity participation and grant funding as a pivotal step in establishing ITM Power at the center of the UK’s hydrogen economy, positioning the company as a natural partner for domestic projects. The investment will enable large-scale domestic manufacturing of the Chronos platform, building confidence in the technology and supporting sustained growth.
Energy Secretary Ed Milliband framed the investment as the government’s clean energy mission in action – rebuilding national energy security with clean, domestically-produced power while creating quality industrial jobs for South Yorkshire communities. He noted that communities have long advocated for new generations of quality industrial jobs, and these plans fulfill that commitment by enabling residents to find decent work without leaving their hometowns.
Milliband added that thanks to the government’s clean energy commitment, a generation of young people in Britain’s industrial heartlands can now access well-paid, secure employment opportunities. This result follows months of intensive collaboration between Great British Energy, the publicly owned energy company, the government, and ITM Power, creating conditions to revive domestic manufacturing in Britain.
Dan McGrail, CEO of Great British Energy, stated that the investment backs British innovation and technology while supporting hundreds of skilled jobs. This represents the company’s ‘Energy Engineered in the UK’ strategy in action – investing in ITM Power to help it scale globally while maintaining vital engineering expertise within the UK.
ITM Power also revised its FY2026 cash guidance upward from £170-175 million ($227.8-$234.5 million) to £210-215 million ($281.4-$288 million) in response to the government backing.
For this story, generative AI was utilized as a research aid, with editorial verification of all AI-generated content prior to publication.