ITM Power (British manufacturer of industrial-scale hydrogen energy systems) has received the formal award of a USD 62.45 million grant from the Department for Energy Security and Net Zero, confirming funding first announced in April 2026 and unlocking a major manufacturing investment at the company's Sheffield facilities.

Grant Formalised After Three-Month Process

The electrolyser manufacturer confirmed that the grant, originally announced on 9 April 2026, had now been formally awarded by the Department for Energy Security and Net Zero, known as DESNZ. The announcement marks the completion of a process that began earlier in the year and clears the way for the company to move forward with concrete investment plans.

The USD 62.45 million in government funding sits alongside a USD 53.72 million equity investment from Great British Energy, bringing the combined public support for the project to USD 116.17 million.

Together, these two funding streams are intended to support the establishment of operational manufacturing capability for ITM Power's next-generation electrolyser stack, which the company has named Chronos.

Chronos Stack Promises Efficiency and Cost Improvements

The Chronos electrolyser stack is described by ITM Power as delivering superior energy efficiency and materially lower cost compared to existing products. The company says these characteristics are expected to strengthen its competitive position, expand its addressable market, and accelerate the industrial adoption of green hydrogen.

ITM Power has framed Chronos as central to its pathway to what it describes as sustainable and profitable growth. The company designs and manufactures industrial-scale electrolysers using proprietary proton exchange membrane technology, and the Chronos stack represents its next step in that product development sequence.

Sheffield Facilities to Host the New Manufacturing Line

The Chronos manufacturing line is planned to be built within ITM Power's existing Sheffield facilities. The company says this approach leverages manufacturing expertise and infrastructure already in place and builds on production processes that have been incrementally introduced to its current Trident production line over recent years. ITM Power argues that using established facilities reduces execution risk while enabling a scalable, high-throughput manufacturing platform.

The project is centred on bespoke, automated production equipment designed to support one gigawatt of annual production capacity. Specific areas of investment include catalyst-coated membrane production, electrode welding, specialist coating applications, and stack assembly lines. The project also encompasses cleanroom infrastructure to support what the company describes as efficient, high-quality manufacturing.

Operational readiness and product quality are to be supported through the in-house production of modular test systems, along with the acquisition of validation materials needed to enable what ITM Power calls a robust and efficient manufacturing ramp-up.

CEO Points to UK Hydrogen Economy Ambitions

Dennis Schulz, Chief Executive Officer of ITM Power, said the formal award of the DESNZ grant enables the company to build its next-generation Chronos manufacturing line in Sheffield.

He described the combination of the government grant and the Great British Energy equity investment as a pivotal step in establishing the company at the centre of the UK's hydrogen economy.

Schulz also drew a parallel between Sheffield's historical identity and the company's ambitions for the city's future. "Sheffield is recognised as the historic home of steelmaking," he said. "We will make it just as famous for hydrogen."

The CEO's comments position ITM Power explicitly as what he called a natural partner for hydrogen projects in the UK, suggesting the company views domestic project development as a key part of its commercial strategy alongside its international activities.

Company Background and Market Position

ITM Power is headquartered in the United Kingdom and listed on the London Stock Exchange's AIM market under the ticker ITM. The company holds the Green Economy Mark, a designation awarded to companies that generate more than 50 percent of their revenues from green products and services.

Beyond its equipment manufacturing business, ITM Power operates a build, own and operate model called Hydropulse, through which it provides hydrogen supply directly to customers. The company describes its target customers as leading industrial and energy companies seeking to achieve decarbonisation goals.

The Trident production line, which currently operates at the Sheffield site, has served as the platform on which production processes for the Chronos line will be based. ITM Power says the incremental development of those processes over recent years provides a foundation that reduces the technical and operational risk associated with scaling up to the new manufacturing platform.

The formal grant award now allows procurement and construction planning to advance, with the one-gigawatt annual production capacity target setting the scale of ambition for what the company is presenting as a transformative investment in domestic green hydrogen manufacturing.

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