JCB heir launches £1bn hydrogen investment fund
© Ryse/Wrightbus

JCB heir launches £1bn hydrogen investment fund

JCB heir Jo Bamford has today (September 6) unveiled a new hydrogen investment fund which has set its sights on raising £1bn ($1.3bn).

Launched in collaboration with multi-family office Vedra, the fund, dubbed HyCap, will help to fast-track green hydrogen production and supply in the UK to meet the Government’s net-zero ambitions.

Already, the fund has raised more than £200m and Bamford said the team has identified more than 40 firms which will be evaluated for potential investment.

Commenting on the news, Bamford said, “With the Government’s relentless pursuit of net zero targets and the publication of the damning IPCC report, it is our belief that hydrogen holds the key to reduce emissions – and there is a growing sense of urgency to act now.

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