ITM Power Plc (LON:ITM), the energy storage and clean fuel company, is pleased to note the launch of the UK Government’s “The Hydrogen for Transport Programme”. In March 2017, the Government announced additional funding to support the development of hydrogen for transport until 2020. The Hydrogen for Transport Programme (HTP) will provide up to £23m to increase the uptake of hydrogen fuel cell vehicles and grow the UK hydrogen refuelling infrastructure. The funding competition for the programme has now been launched with an application deadline of 9am on Monday 16 October.
ITM Power currently has £24.06m of projects under contract and £18.22m of contracts in the final stages of negotiation, totalling £42.28m (subject to exchange rate variation).
ITM Power Plc CEO, Dr Graham Cooley, said: “The Hydrogen for Transport Programme is a further demonstration of the UK Government’s commitment to developing a hydrogen infrastructure in the UK as part of its target to eliminate diesel and petrol from UK roads by 2040. We welcome this initiative but note the huge disparity between the funding for hydrogen infrastructure and the charging infrastructure for battery electric vehicles.”