Asked by: Sally Jameson (Labour (Co-op) - Doncaster Central)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to support the hydrogen technology manufacturing sector to export (a) goods and (b) services.
Answered by Chris McDonald - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
As a frontier Industrial Strategy sector, the government has committed targeted support to boost exports of hydrogen sector goods and services by showcasing UK capabilities through our global network, providing greater access to international supply chains and - as outlined in the Trade Strategy - by expanding clean energy sector agreements, like the UK-Germany Hydrogen Partnership.
To support these opportunities, the UK's export credit agency, UK Export Finance aims to deliver £10bn in clean growth financing by 2029, alongside options to support overseas sales, including loan guarantees for foreign buyers, and working capital, insurance and bond support products to assist UK suppliers.
Asked by: Sally Jameson (Labour (Co-op) - Doncaster Central)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to encourage investment into the hydrogen technology manufacturing sector.
Answered by Chris McDonald - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Under the Industrial Strategy's Clean Energy Industries Sector Plan the Government announced a public finance offer to crowd private investment into clean energy industries, including the UK's hydrogen economy. This includes: a £1bn Clean Energy supply chain fund; £5.8bn for the National Wealth Fund to invest across this Parliament in clean industries including low-carbon hydrogen; and a £4bn British Business Bank Industrial Strategy Growth Capital scale and start up financing package.
My officials have been working closely with the Department for Energy Security & Net Zero to showcase these opportunities for investment alongside UK world-class capability across the hydrogen sector.