logo-loader

ITM Power welcomes launch of UK government's Hydrogen for Transport Programme

Published: 07:30 21 Aug 2017 BST

Pumping petrol
HTP will provide up to £23mln to increase the uptake of hydrogen fuel cell vehicles and grow the UK hydrogen refuelling infrastructure

ITM Power PLC (LON:ITM), the energy storage and clean fuel company, has welcomed the launch of the Hydrogen for Transport Programme (HTP). 

HTP will provide up to £23mln to increase the uptake of hydrogen fuel cell vehicles and grow the UK hydrogen refuelling infrastructure. 

"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,” said ITM chief executive, Dr Graham Cooley.

READ: ITM Power's pipeline fills up some more

“We welcome this initiative but note the huge disparity between the funding for hydrogen infrastructure and the charging infrastructure for battery electric vehicles."

The funding competition for the programme has now been launched with an application deadline of October 16.

ITM also provided a progress report as it said it currently has £24.06mln of projects under contract and £18.22mln of potential deals in the final stages of negotiation, giving a total of £42.28mln.

READ: ITM Power welcomes reports that the UK government is proposing a ban on sale of petrol and diesel cars by 2040

FTSE rises ahead of Easter weekend, JD Sport gains on upbeat outlook -...

The FTSE 100 gained on the final morning of this shortened Easter trading week. Festive cheer was limited though, as Thames Water confirmed shareholders would not provide it with a £500 million rescue package, prompting speculation over the London supplier’s future. On a more positive...

5 minutes ago