The European Commission has earmarked £3.22 billion in funding through its Innovation Fund for projects aimed at reducing greenhouse gas emissions and expanding clean power component production.

The White Dunes project, spearheaded by Falcon Capital Dakhla, is set to emerge as a prominent hub for the production of what is touted to be "some of the world's cheapest green hydrogen."

Projected to commence operations in 2026, this cutting-edge plant will find its home on the grounds of Zenith Energy Terminals, benefitting from the abundant renewable energy resources provided by Zenith's Renewable Energy division.

Barry Norris, founder and CIO of UK hedge fund Argonaut Capital Partners, has criticized hydrogen investments, stating that they are currently a "complete waste of time" for investors seeking returns in the near future.

This forward-looking infrastructure investment could pave the way for Scotland to achieve its ambitious green export goals by 2045.

After undergoing due diligence, 17 initiatives, collectively contributing 262 megawatts (MW), have been invited by Westminster to engage in negotiations for funding through the Hydrogen Business Model (HBM) process.

This investment aims to accelerate the growth and deployment of Advanced Ionics' low-cost Symbion™ electrolyzer technology, which is targeted at heavy industry applications.