The Holyhead Hydrogen Hub has been included as one of five new projects which could benefit from North Wales Growth Deal funding.
In a meeting held on 21 July, members of the North Wales Ambition Board supported a recommendation to invite five new projects to join the Growth Deal portfolio.
The Anglesey project is amongst those approved and is in line to secure £3.8m in support from the Growth Deal.
Subject to meeting certain criteria the project can now go on to develop its outline business case to secure the funding.
Holyhead Hydrogen Hub is a Menter Môn-led project and is supported by the Isle of Anglesey County Council.
Green hydrogen will be produced at the site and distributed as fuel for zero emission hydrogen-powered vehicles.
Justin Mason, Energy Business Development Manager at Menter Môn, said: “We were delighted to be informed that the Hydrogen Hub is to be included in the North Wales Growth Deal.
“This is a huge boost and will be a significant contribution as the project progresses. We will now be working with Ambition North Wales and our partners as we develop our outline business case to secure this funding.
“We still have work to do in order to attract further investment – this announcement will strengthen our case as we enter into conversations with other potential funders.”
The North Wales Growth Deal is a £1bn investment in the region’s economy, £240m of which has been funded by both UK Government and Welsh Government.