ITM Power: Sheffield firm aiming to make the city ‘just as famous’ for Hydrogen as it was for steel
The CEO of Sheffield-based ITM Power has said the company wants to make the city “just as famous” for hydrogen as it was for steelmaking.
It comes as the company confirmed that it had now received a £46.5m grant from the Department of Energy Security and Net Zero, first announced in April.
ITM said the grant, together with a £40m equity investment from Great British Energy, would provide it with support to establish “next-generation” technology at its Yorkshire site.
Speaking on the announcement, Dennis Schulz, CEO of ITM Power, said: “We are delighted that the DESNZ grant has now been formally awarded, enabling us to build our next-generation Chronos manufacturing line in Sheffield.
“Combined with the strategic equity investment from Great British Energy, this marks a pivotal step in establishing us at the centre of the UK's hydrogen economy and firmly positions us as a natural partner for projects in the UK.
“Sheffield is recognised as the historic home of steelmaking. We will make it just as famous for hydrogen.”
Sheffield’s history as a steelmaking city dates as far back as the 1300s, when the city was already known for its cutlery production.
The city then witnessed an explosion of steelmaking in the industrial revolution, which would continue to grow until around the 1980s, when the industry declined.
Sheffield is still home to steel giant Forgemasters, which is owned by the Ministry of Defence.
ITM Power said that the Government funding would enable it to establish operational capacity to manufacture a new type of hydrogen electrolyser stack – a technology used to split water into hydrogen and oxygen for use in clean energy production.
ITM said its new Chronos electrolyser stack would deliver “superior energy efficiency” and “materially lower cost”.
The company added that the technology could “accelerate the industrial adoption of green hydrogen and support our pathway to sustainable, profitable growth”.
The Chronos manufacturing line is planned to be built in ITM’s existing Sheffield facilities.
In its April announcement on the funding, ITM said it also planned to take on around 400 new staff members.
In a statement issued at the time, Secretary of State for Energy Security and Net Zero, Ed Miliband, said the move would create “good industrial jobs for South Yorkshire.”
He added: “Communities have long been calling out for a new generation of good industrial jobs, and with these plans we answer that call, helping to create an economy in which there is no need to leave your hometown just to find a decent job.
"It is time to make and build things in Britain again.”