ITM Power formally receives £46.5m DESNZ grant to build next-generation Chronos electrolyser manufacturing line in Sheffield

ITM Power, the Sheffield-based hydrogen electrolyser manufacturer listed on the London Stock Exchange, has announced that the £46.5 million grant from the Department for Energy Security and Net Zero (DESNZ), first announced in April 2026, has now been formally awarded. The grant, combined with a £40 million equity investment from Great British Energy, provides the primary financing for ITM Power to establish operational manufacturing capability for its next-generation Chronos electrolyser stack. The Chronos manufacturing line is planned to be built within ITM Power's existing Sheffield facilities, building on production processes already incrementally introduced to the Trident production line. CEO Dennis Schulz described the formal award as enabling the company to proceed with the Sheffield build-out. The combined £86.5 million of public funding from DESNZ and Great British Energy represents a substantial government commitment to domestic green hydrogen manufacturing capacity. The formal grant award converts a previously announced commitment into a binding obligation, triggering the project's next financing and procurement phase. This comes as the wider hydrogen industry has called for stronger government support, and as the UK government looks to its clean energy industrial strategy to stimulate domestic manufacturing supply chains.