ITM secures funding to build 1GW hydrogen plant

ITM Power’s site at Bessemer Park, Sheffield

Sheffield-based ITM Power has secured major new backing from the UK Government and Great British Energy Group Ltd in a move that will significantly scale-up domestic hydrogen manufacturing capability and support the creation of a 1GW electrolyser production line in the UK.

The hydrogen technology specialist confirmed it has secured a £40 million strategic investment from Great British Energy through a ‘non‑pre‑emptive equity subscription’. In parallel, the company has received confirmation from the Department for Energy Security and Net Zero (DESNZ) of its intention to award a further £46.5 million grant, subject to the completion of statutory subsidy control processes.

Together, the investment and grant funding will underpin the establishment of large‑scale operational capability to manufacture ITM Power’s next‑generation Chronos electrolyser stack technology at its site in its Bessemer Park facility in Sheffield. The project will enable the company to build a new automated manufacturing line with an annual production capacity of 1GW, marking a major step forward in the industrialisation of ‘green hydrogen’ technology.

The combined public and equity backing follows extensive technical and commercial due diligence by an independent third party, which assessed the performance, maturity and economic impact of ITM Power’s Chronos platform. The Government support represents a strong endorsement of both the technology and the company’s ability to deliver at scale, while also reinforcing policy ambitions to strengthen UK sovereign manufacturing capability in clean energy infrastructure.

Chronos is designed to deliver higher energy efficiency at substantially lower cost than previous electrolyser stack platforms. ITM Power believes this will help accelerate the industrial adoption of green hydrogen, support growing demand from domestic and international projects, and enable the business to expand market share while progressing towards profitability.

Dennis Schulz, CEO of ITM Power, said: “We are grateful for the confidence and support demonstrated by the UK government. Clean power increasingly underpins energy sovereignty and resilience, which are critical to long‑term economic success against a backdrop of recent geopolitical instability.

“The UK government’s support, through a combination of equity participation and grant funding, marks a pivotal step in establishing ITM Power at the centre of the UK’s hydrogen economy and firmly positions us as a natural partner for projects in the UK. The funds will enable the build‑out of large‑scale domestic manufacturing of our next‑generation Chronos platform, underpinning confidence in our technology and sustained growth.”

Energy Secretary Ed Miliband said the announcement demonstrated the Government’s clean-energy mission in practice and highlighted the industrial impact for regional manufacturing. “This investment is the Government’s clean energy mission in action – rebuilding our energy security with clean homegrown power and good industrial jobs for South Yorkshire. Thanks to this Government’s commitment to clean energy, a generation of young people in our industrial heartlands can have well‑paid secure jobs. This has only happened thanks to months of intense collaboration between Great British Energy, our publicly owned energy company, the Government and ITM Power.”

Great British Energy described the investment as a clear statement of intent to support UK engineering, high‑value manufacturing and export‑led growth in clean energy technologies. Dan McGrail, Great British Energy’s CEO, said: “With this investment Great British Energy is backing British innovation, technology and hundreds of skilled jobs. This is our Energy Engineered in the UK strategy in action. We are investing in ITM Power, helping them to scale, compete globally and keep vital engineering expertise here in the UK.”

Once operational, the Chronos manufacturing line is expected to play a key role in supporting the UK’s hydrogen deployment ambitions, supplying domestic projects while strengthening the resilience of national clean energy supply chains.