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illuminem summarizes for you the essential news of the day. Read the full piece from Sky News here or enjoy below!
🗞️ Driving the news: Big multinational investors, including Airbus and Tata Steel, have formed the Green Hydrogen Alliance (GHA) to support the development of a competitive UK green hydrogen market
• The GHA aims to attract investment and create jobs in regions with economic needs
🔭 The context: The government and Labour Party are actively promoting green hydrogen, with targets of 5GW and 10GW production by 2030, respectively
• The GHA acknowledges the UK's capabilities in green hydrogen technologies and notes the progress made by the 'Powering Up Britain' strategy in working towards the development of a green hydrogen supply chain
🌎 Why does it matter for the planet: The GHA is an important first step towards creating a green hydrogen economy
• Regions like Port Talbot in South Wales, which is home to the extensive steelworks of GHA member Tata Steel, along with the Humber Estuary, are identified as potential sites for the development of green hydrogen clusters
⏭️ What’s next: The new alliance will focus on the use of ports and imported renewables which can then be converted into green hydrogen as a way of kickstarting a domestic hydrogen production market that can eventually focus on exports
💬 One quote: "The UK has unique strengths in the development of green hydrogen technologies, and the potential to be a pioneer of this emerging industry, bringing highly skilled jobs and sustainable economic growth to areas that need it most." (Founding Members, Green Hydrogen Alliance)
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