More ‘net zero’ madness – throwing £87 million of taxpayer funds into the black hole of ‘green hydrogen into a company that lost £47 million last year’
pigs feeding at the Miliband trough
PETER HALLIGAN
What is green hydrogen? Per Brave AI:
“Green hydrogen is hydrogen produced by splitting water into hydrogen and oxygen using electricity generated from renewable sources like wind, solar, or hydropower.
- Key Benefits: Stores excess renewable energy, provides a clean alternative to fossil fuels, and emits only water vapor when burned.
- Main Applications: Fuel cell vehicles, green ammonia production, steel manufacturing, and sustainable aviation fuels.
- Challenges: High production costs compared to fossil-fuel-based hydrogen and the need for specialized storage and distribution infrastructure.”
- UK green hydrogen can save money for households primarily by reducing reliance on expensive imported fossil fuels and lowering overall energy bills, with the government aiming to cut bills by an average of £300 a year through its broader green energy strategy, which includes green hydrogen.
- Direct Cost Reductions: Green hydrogen production costs are projected to drop by 58% to under £100 per megawatt-hour (MWh) if key industry recommendations are implemented, making it a more affordable fuel source compared to current natural gas prices.
- Industrial & Systemic Savings: By decarbonising energy-intensive sectors like steel and chemicals using green hydrogen, the UK reduces the need for costly carbon taxes and volatile fossil fuel imports, creating a more stable and cheaper energy market for consumers.
- Future Heating Alternatives: While heat pumps are the current primary route for cutting household emissions, green hydrogen offers a potential lower-cost heating solution for homes where electrification is difficult, avoiding the high installation costs of replacing boilers with heat pumps in older properties.
- However, current analysis suggests that a full hydrogen rollout for heating could be almost twice as expensive as using natural gas or installing heat pumps in the near term, meaning significant cost savings are contingent on achieving scale and technological improvements by 2030, when green hydrogen is forecast to reach parity with grey hydrogen costs.
So, in the typical insane and perverse logic of the climate cult – it doesn’t work and is more expensive than fossil fuels.
Here’s where it is being attempted in the UK:
“Green hydrogen is currently in use across industrial clusters, heating trials, and pilot transport projects in the UK, with major operations in Teesside, the Humber, South Wales, Grangemouth, and the Orkney Islands.
Industrial and Power Generation Applications Significant green hydrogen initiatives are active in key industrial hubs to decarbonize heavy industry and power generation. BP’s HyGreen Teesside and RWE’s Wilton Green Hydrogen plant in South Teesside are producing green hydrogen to decarbonize local industry and heavy transport, with potential to contribute to 15% of the UK’s 2030 hydrogen production target.
Similarly, RWE’s Harwich and Pembroke projects are developing facilities to supply local manufacturers and industrial sites, while the Humber and Merseyside clusters are also central to these efforts.
In the power sector, a landmark trial in North Lincolnshire recently injected a 2% green hydrogen blend into the gas grid to fuel the Brigg power station, marking the UK’s first “real-life” test of hydrogen blending for electricity generation.
Heating and Residential Projects The UK is pioneering the use of green hydrogen for domestic heating through specific network trials. The H100 Fife project in Buckhaven and Denbeath is constructing the world’s first green hydrogen distribution network, delivering clean hydrogen to approximately 300 households via a new gas network and replacing natural gas boilers with hydrogen-ready appliances. Additionally, the Orkney Islands host the BIG HIT demonstration project, which uses locally generated wind and tidal energy to produce hydrogen for heat, power, and transport in isolated territories, establishing a replicable model for localized energy systems.
Transport and Emerging Infrastructure Green hydrogen is also being utilized in the transport sector through dedicated hubs and vehicle trials. The Tees Valley Hydrogen Transport Hub serves as a living lab for production, storage, and distribution, supporting trials of hydrogen-powered buses, HGVs, forklifts, and marine vessels.
Furthermore, Northern Ireland has deployed hydrogen-powered buses in Belfast, and Wales is seeing early-stage uses in commercial shipping and aviation, supported by a government £23 million Hydrogen for Transport Programme.
Infrastructure developments like Project Union (funded by Ofgem) are also underway to transport green hydrogen from supply centers in Scotland to demand centers like Teesside.
All hat and no cattle – now we have this from here:
Government hands clean energy firm £86.5m for Sheffield hydrogen factory in latest green push
“Clean energy firm ITM Power has secured £86.5million in government backing, with state-owned GB Energy taking a stake in the electrolyser manufacturer.
Ed Miliband’s Department for Energy Security and Net Zero has handed hydrogen firm ITM Power a £46.5million grant.
GB Energy, Britain’s state-owned clean energy company, has also invested £40million in ITM Power, equivalent to a 10.4 per cent stake in the firm.
ITM Power now expects its year-end cash balance to be between £210million and £215million, up from £170million to £175million. The firm posted a £45million annual loss in August last year, despite posting a second year of record-breaking turnover.
The jobs for the Miliband favoured ‘boys’ I a company that made a loss of £45million, and which has over £210million in cash after the massive taxpayer subsidy of £86.5million.
I wonder who its shareholders are?
ITM Power shares rose 11.44 per cent or 7.37p to 71.77p on Thursday morning, having surged 150 per cent in the past year.
Mr. Dennis Schulz
CEO & Director
1.04M shares
Ms. Amy Elizabeth Grey
CFO & Director
367.43k shars
Dr. Simon Bourne
CTO & Executive Director
388.5k shares
Mr. Andrew Charles Allen
Vice President of Strategy
407.69k shares
Mr Schulz Compensation: Total yearly compensation of £1.17 million, comprising roughly 40.6% salary and 59.4% bonuses (including stock and options).
Ms. Amy Elizabeth Grey’s remuneration as CFO and Director of ITM Power Plc is £367,430 (as of December 31, 2025). This figure represents her total compensation for the last fiscal year and includes salary and bonuses, with no value reported for exercised options.
A 2025/2026 management analysis table lists a person named Andrew Allen as Vice President of Strategy at ITM Power with a compensation of UK£450.19k
Dr. Simon Bourne, the Chief Technology Officer and Executive Director of ITM Power, received a total compensation of £388,500 for the fiscal year ending December 31, 2025. In addition to his base salary and bonuses, he was granted share awards under the company’s Long Term Incentive Plan (LTIP) equivalent to 100% of his salary, amounting to 1,005,300 shares with an exercise price of £0.05 per share.
Current share price is 72 pence pr share so a million shares with an exercise price of £0.05 per share has an unrealised gain of £670,000 .
These are the types of high paying jobs promised by mad Miliband from the ‘net zero’ insanity.
A few million pounds – mostly taxpayers’ money- for a technology that does not work, in a company that lost 45 million pounds last year.
how much of its over 200 million pounds in cash is unspent grants and subsidies from prior years – 100% – less the few million a year paid directly to senior executives?
Pink Floyd – Pigs (Three Different Ones) (Full Song)
Charade you are.
Please take a (paid or unpaid) subscription or forward this article to those you think might be interested.
You can also donate via Ko-fi – any amount from three dollars upwards. Ko-fi donations here:
https://ko-fi.com/peterhalligan
This article (More ‘net zero’ madness – throwing £87 million of taxpayer funds into the black hole of ‘green hydrogen into a company that lost £47 million last year’) was created and published by Peter Halligan and is republished here under “Fair Use”
••••
The Liberty Beacon Project is now expanding at a near exponential rate, and for this we are grateful and excited! But we must also be practical. For 7 years we have not asked for any donations, and have built this project with our own funds as we grew. We are now experiencing ever increasing growing pains due to the large number of websites and projects we represent. So we have just installed donation buttons on our websites and ask that you consider this when you visit them. Nothing is too small. We thank you for all your support and your considerations … (TLB)
••••
Comment Policy: As a privately owned web site, we reserve the right to remove comments that contain spam, advertising, vulgarity, threats of violence, racism, or personal/abusive attacks on other users. This also applies to trolling, the use of more than one alias, or just intentional mischief. Enforcement of this policy is at the discretion of this websites administrators. Repeat offenders may be blocked or permanently banned without prior warning.
••••
Disclaimer: TLB websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
••••
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of The Liberty Beacon Project.
Leave a Reply