ITM Power Secures $62.45 Million Grant and $53.72 Million Equity Investment from UK Government to Scale Next-Generation Electrolyzer Production to 1 GW Annually

July 12, 2026

Blackridge Research & Consulting UK

Overview

ITM Power formally received a $62.45 million grant from the UK Department for Energy Security and Net Zero, alongside a $53.72 million equity investment from Great British Energy. This total of $116.17 million will fund a major manufacturing investment at ITM Power’s Sheffield facilities to establish a one-gigawatt annual production capacity for its next-generation Chronos electrolyzer stack. The Chronos stack is designed for superior energy efficiency and lower cost.

In Depth

Key Findings

ITM Power announced a significant capital injection from the UK government, securing a formal award of a $62.45 million grant from the Department for Energy Security and Net Zero, complemented by a $53.72 million equity investment from the newly established Great British Energy. This total of $116.17 million will be channeled into a substantial manufacturing investment at ITM Power’s Sheffield facilities, aimed at establishing a 1-gigawatt (GW) annual production capacity for its next-generation Chronos electrolyzer stack.

Technical / Clinical Details

Chronos Electrolyzer Stack: The Chronos electrolyzer stack represents the pinnacle of ITM Power’s latest technological advancements. It is engineered to deliver significantly improved energy efficiency and reduced manufacturing costs compared to previous models, which will further lower the levelized cost of green hydrogen and enhance market competitiveness.
Gigawatt-Scale Production Capacity: The 1 GW annual production capacity is equivalent to generating green hydrogen capable of powering approximately 200,000 homes. This large-scale manufacturing capability is a critical foundation for meeting the burgeoning demand for green hydrogen in the UK and internationally.
Sheffield Facility Investment: The funds will be deployed for the expansion and automation of the Sheffield manufacturing facility, as well as associated research and development. This will optimize production processes and ensure a stable supply of high-quality, reliable electrolyzers.

Background & Context

The UK has made green hydrogen production and utilization a cornerstone of its national strategy to achieve net-zero emissions by 2050. Large-scale public investments in domestic companies like ITM Power are crucial for accelerating progress towards this goal, strengthening the domestic manufacturing sector, and enhancing supply chain resilience. The creation and investment by Great British Energy underscore the government’s strong commitment to clean energy technologies.

Strategic Significance & Outlook

This substantial funding and the establishment of gigawatt-scale production capacity mark a pivotal step for ITM Power to solidify a leading position in the global electrolyzer market. The commercialization of the Chronos stack is expected to further drive down the cost of green hydrogen, facilitating its wider adoption across large-scale industrial applications and the transport sector. This development will accelerate the growth of the UK’s hydrogen economy and contribute significantly to global decarbonization efforts.

Source: https://www.blackridgeresearch.com/news-releases/itm-power-secures-formal-award-of-usd-62-45-million-to-build-next-generation-hydrogen-electrolyser-line-in-sheffield-uk

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