Shares in green hydrogen electrochemical specialist Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) jumped 8% to top the FTSE 350 leaderboard after the Autumn Budget announcement.
Chancellor Rachel Reeves said the UK’s clean energy sector will benefit from £3.9 billion of funding in 2025‑26.
The statement made mention of funding for carbon capture, usage and storage projects and for 11 new green hydrogen projects - though the wording was unclear.
The government has also confirmed support for the first round of electrolytic hydrogen production contracts, with two electrolytic hydrogen projects in Scotland, in Cromarthy and Whitellee, and two in Wales, in Milford Haven and Bridgend.
Another £2.7 billion of funding was provided to continue the development of the Sizewell C nuclear plant through 2025-26, with the equity and debt raise process for this project shortly due to conclude in the spring.
There was £125 million funding the next tax year for Great British Energy, which will be headquartered in Aberdeen.
The Treasury also said the government is working with the new National Energy System Operator and regulator Ofgem to develop a robust grid connection process.