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Great Britain invests more than 9 million pounds in a hydrogen gas storage project


November, 22 2021
watermark Economic news

The Ministry of Business, Energy and Industry of the UK announced plans to invest 9.4 million pounds in the first of its kind project for the production and storage of hydrogen gas at the largest windmill. The project involves the implementation of activities within the framework of the country's transition to clean energy. 


Recall that the UK plans to achieve carbon neutrality by 2050. 


According to experts, ScottishPower's Whitelee wind farm will operate on a system that converts water into hydrogen gas. Further, the produced hydrogen gas will be supplied to local transport as a carbon-free fuel. Every year, such a windmill will be able to produce from 2.5 to 4 tons of hydrogen gas per day.


The UK has become the first major economy in the world to commit to achieving carbon neutrality. One of the objectives of this strategy is to reduce emissions into the atmosphere by 68% by 2030. Moreover, the British authorities have pledged to completely abandon the use of coal-fired energy by 2024, and by 2030 – to stop selling new cars powered by gasoline and diesel fuel.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.