Multi-million cash injection for green technology

Multi-million cash injection for green technology

Multi-million cash injection for green technology

The UK Government has announced a £166.5 million cash boost to help drive forward developments in critical technology needed for a green industrial revolution including carbon capture, greenhouse gas removal and hydrogen.

The green technology required to help the UK meet its world-leading climate targets has been given this cash injection, just six months on from the publication of the government’s 10 Point Plan for a Green Industrial Revolution.

According to the government, this multi-million pound investment, awarded to innovators, businesses, academics and heavy industry right across the UK, will accelerate the delivery of the critical game-changing technologies needed to further drive Britain’s climate change ambitions and help to create over 60,000 jobs across the UK.

The £166.5 million funding package will develop technologies in carbon capture, greenhouse gas removal and hydrogen, while also helping find solutions to decarbonise the UK’s polluting sectors including manufacturing, steel, energy and waste. It will also be used to support British industries in lowering costs, remaining competitive and protecting jobs as they improve their energy efficiency and transition to a green economy.

This investment is being described as a significant step toward helping the UK meet its ambitious climate commitments, including reaching net zero emissions by 2050 and the world’s most ambitious climate target of reducing UK emissions by 78% by 2035 compared to 1990 levels.

“We are determined to tackle climate change and make it win-win for both our planet and our economy. Today’s major cash boost – targeted at our most polluting industries – will encourage the rapid development of the technologies we need to reign in our emissions and transition to a green economy, one that reduces costs for business, boosts investment and create jobs,” said Energy Minister Anne-Marie Trevelyan.

£86 million of the total funding package announced today comes from the government’s £1 billion Net Zero Innovation Portfolio, which provides funding for low-carbon technologies and systems.

Today’s announcement includes:

£60 million to support the development of low carbon hydrogen in the UK and to identify and scale-up more efficient solutions for making clean hydrogen from water using electricity. This will take the UK closer to using low carbon hydrogen in key industries from powering transport such as trains and ships to factories and domestic heating systems. This funding will help create around 8,000 hydrogen jobs set out in the 10 Point Plan.

£37.5 million to fund the largest government programme of greenhouse gas removal methods. Of this, twenty-four projects across England and Wales will receive up to £250,000 to fund innovative designs that develop new ways of removing greenhouse gases from the atmosphere and store them safely, and a further 5 projects will receive up to £4.5 million each to investigate the viability of adopting greenhouse gas removal methods at scale.

£20 million to support the development of the next generation Carbon Capture, Usage and Storage (CCUS) technologies so they can be deployed at scale by 2030. This could include funding innovative technologies that widen the suitability of CCUS to a larger range of UK industrial uses such as chemicals and cement, reducing the cost of deploying CCUS and helping industrial waste or power sector companies to capture and store harmful emissions from the source, before they are emitted into the atmosphere.

£20 million to establish a new virtual Industrial Decarbonisation Research and Innovation Centre that will accelerate the decarbonisation of key energy-intensive industries which currently make a significant contribution to UK emissions.

Run by Heriot-Watt University, Edinburgh, the Centre will bring together new technologies and address the challenges faced by industrial areas, helping to provide solutions that reduce costs, risks and emissions. This centre will connect and empower over 140 partners, including industry and business, government and regulatory agencies and academics, working together to deliver an impactful innovation hub for industrial decarbonisation.

£16.5 million through the Industrial Energy Transformation Fund to develop new technologies and processes that help energy-intensive sectors cut their emissions, while reducing their energy bills. .

£8 million for projects to develop innovations, such as repurposing textile waste, new clay production techniques for the ceramics industry and concrete manufacturing that support the rapid recovery and sustainability of UK industry.

£4.7 million will establish a new Transforming Foundation Industries Research and Innovation Hub. The hub will be led by Cranfield University and will help industries like metals, glass, cement, paper and glass to work together and address their common challenges while accelerating the development and adoption of new technologies and business models. This could include creating new, smart materials and processes that enable cheaper, lower energy and low carbon products.