U.K. Govt Gives a £166.5 Million Major Cash Boost to Green Tech By Soumya Duggal/ Updated On Thu, May 27th, 2021 The UK government recently announced a £166.5 million cash injection for the country’s green technology and development, as part of the Green Industrial Revolution. The funding package will help the UK meet its climate targets, create jobs, and decarbonise its most polluting industries. Energy Minister Anne-Marie Trevelyan said, “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 Boris Johnson-led government has chalked out an ambitious 10 Point Plan committed to removing 10 megatons of carbon dioxide, generating 5GW of hydrogen by 2030, and creating 250,000 green jobs. Norwegian Gen2 Partners with a Scottish Firm to Export Green H2 to U.K. Also Read According to the announcement, 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, while creating over 60,000 jobs across the UK. The funding package is aimed at developing 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 break up of the financial investment is as follows: US-UK Companies Launch JV for 10 GW Wind Turbines in North Atlantic Also Read £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; £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; £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; £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. £16.5 million through the Industrial Energy Transformation Fund will be devoted towards developing new technologies and processes that help energy-intensive sectors cut their emissions, while reducing their energy bills. Projects receiving funding include Tate & Lyle to decarbonise its London sugar refinery and cut emissions by up to 90% and Celsa Manufacturing to install new technologies that improve energy efficiencies in the process to melt scrap metal and produce steel. £8 million will be given 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 This investment, the government claims, will help 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. It is also expected to support British industries to lowers costs, remain competitive and protect jobs as they improve their energy efficiency and transition to a green economy. Tags: Climate Goals, Green Hydrogen, green technology, investment in clean energy, U.K.