Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what assessment they have made of the amount of private capital that might be available to support a hydrogen-based economy.

While Government does not have a formal assessment of all private capital that might be invested in the hydrogen economy, it is clear that there is growing interest in this area and we are in regular discussions with businesses about their investment plans for hydrogen projects, including those that are ready for very near-term deployment.

We are undertaking extensive stakeholder engagement as we develop new policy to help bring forward the technologies and supply chain we will need to grow the UK hydrogen economy. As part of this we are looking to formalise regular engagement between Government and industry to discuss and drive development if the UK hydrogen economy. This will consider how we can best work together to encourage increased private sector investment in hydrogen projects, growing the hydrogen supply chain and providing clean growth and new jobs across the UK.