The UK Government announced today a £166.5 million funding boost for green technologies as part of plans to create 60,000 jobs across the country.
The 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.’
The government explained that the money will help 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. The government believes the investment will help put the UK at the forefront of the green technologies of the future, while supporting British industries to lowers costs, remain competitive and protect jobs as they improve their energy efficiency and transition to a green economy.
The UK has 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. This new investment will help contribute towards these.
Energy Minister Anne-Marie Trevelyan said: “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.
“Just 6 months ago, the Prime Minister set out a clear 10 Point Plan for creating and supporting up to 250,000 British jobs as we level up and build back greener from the pandemic. Today we’re boosting our armoury for the fight against climate change and backing innovators and businesses to create green jobs right across the United Kingdom.”
The Prime Minister’s 10 Point Plan committed to removing 10 megatonnes of carbon dioxide, generating 5GW of hydrogen by 2030, and creating 250,000 green jobs.
The new announcement brings the UK closer to delivering on these commitments set out by the Prime Minister and includes things such as:
- £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 one step closer to using low carbon hydrogen in key industries across the UK – from powering transport such as trains and ships to factories and the heating systems in our homes. 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 helping cement the UK’s status as a world-leader in this technology. Of this, 24 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 the UK industrial decarbonisation community with over 140 partners, including industry and business, government and regulatory agencies and world-leading academics, working together to deliver an impactful innovation hub for industrial decarbonisation
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