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Hycap hydrogen investment fund launches

Fund is backed by investment firm Vedra Partners and Wrightbus chairman Jo Bamford

A new hydrogen investment fund called Hycap has raised £200mn ($277mn) of capital with the goal of eventually raising £1bn. The fund is backed by investment firm Vedra Partners and Jo Bamford, chairman of UK bus manufacturer Wrightbus. The UK hydrogen sector needs a £1bn injection to help it compete with other territories, according to Bamford. “It is our belief that hydrogen holds the key to reducing emissions—and there is a growing sense of urgency to act now,” he says. “The UK has missed the boat on batteries, a sector dominated by China and the Far East, but we can be global leaders in the production and supply of hydrogen—an economy said to be worth $2.5tn in revenues by 2050.”

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