Aiding Green Transport: UK announces grant to export hydrogen-powered buses
London
In a bid to promote clean and green transportation solutions, the UK government on Friday announced a grant to export the world’s first hydrogen-powered buses to Europe and North America.
The grant of 50 million pounds has been announced to Wrightbus, a Northern Ireland-based bus manufacturer, after a guarantee from UK Export Finance.
The guarantee will ensure that Wrightbus gets 80 percent of the loan amount from Barclays Bank to produce the world’s first hydrogen-powered buses.
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The loan will also aid the company in creating an additional workforce of 1,000 local green jobs in Britain and the export of its electric and hydrogen-powered zero-emission buses.
Wrightbus wants to expand its exports to Germany and North American countries while completing existing orders for markets of Singapore and Hong Kong.
The grant is also being seen as the outcome of UK Investment Minister Lord Johnson’s visit to the Wrightbus construction site at Ballymena in Antrim County in Northern Ireland.
Commenting on the development, Lord Johnson said the initiative is a great example of the British company promoting green transport solutions.
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The funding will provide a boost to Wrightbus in creating more local jobs and growth and also encourage other businesses to seize export opportunities in the coming days.
