The UK Government announced on Monday announced that it will award £167 million ($236 million) of funding for projects related to clean technology and energy.
The UK Government, with this funding, plans on accelerating clean technology and energy efficiency projects in heavy industries. The Government is pushing for projects that would totally eradicate greenhouse gas emissions by mid century. Some of these projects include technologies related to hydrogen-fuel, carbon capture and storage, and solutions to decarbonise heavy industries including manufacturing, energy, steel and waste.
The UK Government revealed that the funding will create about 60,000 jobs and will be awarded to academics, heavy industry, innovators and businesses across Britain.
The Minister of State for Business, Energy and Clean Growth; Annie-Marie Trevelyan while talking about the funding said that 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”
Some of the companies that will partake from the funding include; Tate and Lyle in London, Phillips 66 in Humberside and Saint-Gobain Glass in North Yorkshire.
The Government, with this funding, hopes that the UK stands at the forefront of green technologies in the future while giving support to local industries so that they will be able to lower costs, stay competitive and protect jobs as they work on improving their energy efficiency. “By embracing measures such as these, as well as accelerating decarbonisation, scaling up the use of low-carbon hydrogen and embracing new carbon capture and greenhouse gas removal technologies, we will future-proof our industry while protecting and creating jobs”, David Duguid; a member of the UK parliament said about the funding.