Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government what steps they are taking to ensure National Wealth Fund investment benefits increase research and development in the UK hydrogen and fuel cell technology manufacturing sector.

The NWF is the Government’s principal investor and policy bank with operational independence and a total £27.8bn to catalyse private investment in capital intensive projects. The NWF will commit at least £5.8bn over this Parliament to green hydrogen, carbon capture, ports, gigafactories and green steel sub-sectors.

To crowd investment into supply chains, the Government has announced a £1bn Clean Energy Supply chain fund aligned with the Clean Energy Industries Sector Plan and a £4bn British Business Bank Industrial Strategy Growth Capital initiative. DESNZ has also spent around £160m from the now complete £1bn Net Zero Innovation Portfolio on hydrogen R&D.