The green technology required to help the UK meet its world-leading climate targets has been given a £166.5 million cash injection.
The multi-million pound investment, awarded to innovators, businesses, academics and heavy industry right across the UK, aims to accelerate the delivery of the critical game-changing technologies needed to further drive Britain’s climate change ambitions,
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.
This investment is designed to 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.
This investment will help the UK meet its ambitious climate commitments, including reaching net zero emissions by 2050 and the target of reducing UK emissions by 78% by 2035 compared to 1990 levels.
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 six 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 ten megatonnes of carbon dioxide, generating 5GW of hydrogen by 2030, and creating 250,000 green jobs.
£4.7 million of the new funding 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 whilst 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.
Challenge director for UK Research & Innovation’s Industrial Decarbonisation challenge Dr Bryony Livesey said:
“The introduction of the Industrial Decarbonisation Research and Innovation Centre concept shows the commitment to not only fund largescale decarbonisation efforts, but to make sure we continually learn from and adapt to their early results and challenges. By enabling the Centre to build evidence on a range of areas from direct costs and emissions to skilled jobs and wider net zero policy, we believe we are creating a more adaptive and responsible path for the UK’s big industry to take to remain at the forefront of a global low carbon culture.”
£86 million of the total funding package announced as part of this package comes from the government’s £1 billion Net Zero Innovation Portfolio, which provides funding for low-carbon technologies and systems, helping the UK end its contribution to climate change.