UK Oil & Gas PLC experienced a significant increase in its shares by up to 30% following advancements towards obtaining a government grant for hydrogen storage projects. This positive development followed the signing of a letter of support (LOS) between Sumitomo's Summit Energy Evolution and UK Oil and Gas's hydrogen storage subsidiary. The LOS agreement involves cooperation and potential investment in upcoming projects. Notably, UK Energy Storage is envisioned to play a key role in supporting Summit Energy Evolution's proposed 590 mega-watt low-carbon hydrogen generation facility in Norfolk. The cooperation and LOS are crucial steps in the company's pursuit of government-funded revenue support, aimed at aiding net-zero ventures. To qualify for the grant, companies must demonstrate backing from hydrogen storage users and financial supporters. Looking ahead, UK Energy Storage is preparing to seek government revenue support for its hydrogen storage initiatives after the upcoming general election. Stephen Sanderson, the Chief Executive of UK Oil and Gas, expressed optimism about the ongoing collaboration with Sumitomo's subsidiary and the potential for further support from storage users and investors.