16 Apr Businesses Reveal £6.5bn Nationwide Green Hydrogen ‘Mega-Project’
A group of leading UK businesses has announced ambitious plans for a £6.5 billion green hydrogen initiative to establish a nationwide low-carbon hydrogen network, totalling over 1 GW of production capacity.
Backed by major industry players, including Centrica, National Gas, JCB, and Heidelberg Materials, the proposed “Project HySpeed” aims to decarbonise key sectors and boost the UK’s clean energy economy.
Massive Investment and Economic Impact
If fully realised, Project HySpeed is expected to generate over £6.5 billion in private investment and contribute approximately £2 billion annually to the UK’s gross value added (GVA). The initiative involves consolidating hydrogen production from more than a dozen strategically located sites across the UK, from Scotland to the South West.
All sites will produce green hydrogen using renewable-powered electrolysis—a process that splits water into hydrogen and oxygen using electricity generated from clean sources. This aligns with the UK Government’s broader ambition to reach 10 GW of low-carbon hydrogen capacity by 2030, a goal first introduced during Boris Johnson’s tenure as Prime Minister.
Building the Hydrogen Ecosystem
Project HySpeed goes beyond just hydrogen production. The wider value chain will encompass renewable power generation, hydrogen compression and storage, and transportation infrastructure, such as tube trailers. The hydrogen produced will serve a variety of high-emission industries, including public transport, non-road mobile machinery, and chemical manufacturing.
By aggregating equipment procurement, streamlining power purchases, and accessing cost-effective financing, the consortium aims to drive economies of scale, cutting costs across the board.
Although the project is targeting full operational capacity by 2030, specific interim milestones—such as planning approvals and construction timelines—have yet to be published on the project’s official website.
Introducing the HydraB Group
The vision behind Project HySpeed comes from the newly formed HydraB Group, a collaboration between Wrightbus, investment firm HYCAP Group, and hydrogen-focused companies Hygen Energy and Ryze Power. The group describes the project as a “national movement” toward energy independence, sustainability, and long-term economic growth.
HydraB estimates the project could create as many as 24,000 jobs throughout its value chain. Executive Chairman Jo Bamford confirmed that the group is already in discussions with government officials, who have expressed enthusiasm about backing major green hydrogen ventures.
Industry-Wide Support
Project HySpeed is also receiving support from prominent names in the energy and industrial sectors, including Centrica, National Gas, Johnson Matthey, ITM Power, JCB, and Heidelberg Materials.
Dennis Schulz, CEO of ITM Power, praised the project model, calling it “the most efficient route to scaling the UK’s green hydrogen economy.” He highlighted that by including every stage of the hydrogen value chain—from production to end-use—the project will be in a strong position to reduce costs and enhance adoption.
Chris O’Shea, CEO of Centrica Group, echoed the sentiment, noting the project’s potential to make hydrogen deployment more affordable for both the public and private sectors.
Government Momentum
The announcement follows closely on the heels of the UK Government’s shortlist of 27 low-carbon hydrogen projects eligible for potential support under the second Hydrogen Allocation Round (HAR2), signalling strong momentum in the country’s push toward a cleaner energy future.
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