With the UK hydrogen ecosystem gaining significant traction in recent weeks, Thames Estuary has released its hydrogen route map today (Oct 26) that could generate £3.8bn ($5.24bn) gross value added (GVA) by 2035.
The hydrogen route map identifies various key areas for the value chain including where demand, supply, distribution and storage opportunities all exist for hydrogen.
This could prove vital in decarbonising the estuary whilst additionally growing the hydrogen ecosystem in the region.
As well as this, the route map also outlines requirements for the investment market and pinpoints investment clusters, establishes a broad set of relationships with key stakeholders, and highlights the competitive advantage of locating a hydrogen ecosystem in the Estuary.
The key strategic location of the Estuary makes it a key area for the growing hydrogen ecosystem with it situated right next to the UK capital, London, and stretches out into the North Sea.
It is anticipated that developments in hydrogen could unlock significant benefits for the local area with Thames Estuary estimating that it could attract £2.2bn ($3.03bn) of investment.
This development comes ahead of COP26 in Glasgow, Scotland, with hydrogen expected to feature throughout the event.
Kate Willard OBE, Estuary Envoy and Chair of the Thames Estuary Growth Board, said, “We are proud and excited to launch The Thames Estuary Hydrogen Route Map.
“Through our Green Blue vision, our objective is to unlock £190bn ($262bn) of national growth potential by capitalising upon the unique built and natural assets of the Thames Estuary. The Growth Board works tirelessly to identify and catalyse new opportunities to create the cleanest and greenest river-side region anywhere on the planet.
“Over the past six months, we have looked across the Estuary to understand the needs and opportunities and articulate the scope for a hydrogen ecosystem which is compelling and capable of attracting multi-billion-pound investment.
“A hydrogen ecosystem in the Estuary will have far-reaching, positive implications not only for the region, but for the UK as a whole.”