HyNet North West project receives GBP72 million funding from UK govt
The UK Government has awarded GBP72 million (US$99.73 million) funding for the development of the HyNet North West hydrogen production plant in Stanlow Refinery. The funding comprises GBP33 million (US$45.71 million) from UK Research and Innovation (UKRI) through the Industrial Decarbonisation Challenge (IDC) fund and GBP39 million (US$54 million) of consortium partner contribution.
The HyNet North West hydrogen and carbon capture and storage (CCS) project is currently being developed by a consortium of companies composed of Progressive Energy, Cadent, CF Fertilisers, Eni UK, Essar, Hanson, INOVYN (part of the INEOS Group), and the University of Chester. The production facility will convert natural gas into low carbon hydrogen. the clean hydrogen will be transported through the new pipelines to the power industry, fuel buses, trains, and heavy goods vehicles, and generate electricity and heat across North West England and North Wales.
The government funding will allow HyNet North West to accelerate to a Final Investment Decision (FID) in 2023 for the initial phase, and become operational in 2025.
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