World News

World News23.01.2024

The UK industry will receive over £190m from the government for decarbonisation

QAZAQ GREEN. Over £190 million will be made available to help industry in the transition to net zero, reducing emissions as they switch to cleaner, cheaper energy. A multi-million-pound package will help businesses across the UK to cut their emissions and energy bills.

Minister for Energy Efficiency and Green Finance Lord Callanan on Monday, 22 January, announced 12 winners from the Local Industrial Decarbonisation Plan competition, who will each benefit from a share of up to £6 million to develop plans for a low carbon future.

This funding will give winning businesses and partners the chance to work together on plans to cut their emissions, learning from each other while also having access to technical advisors to prepare for adopting measures such as using hydrogen or carbon capture.

In particular, this will be targeted at projects outside of the UK’s major industrial areas – from a Yorkshire pet food manufacturer to a Poole ferry operator. Companies in dispersed locations away from industrial heartlands account for 55% of the country’s industrial emissions.

He also shared plans to open a new phase of the Industrial Energy Transformation Fund later this month for a further £185 million, which will help companies transform their operations to run on cleaner, more secure energy–backing measures such as replacing inefficient equipment, installing electric furnaces and switching to hydrogen. The funding is ensuring businesses are supported in the transition to net zero, in a sustainable way and cost-effective way, securing green industrial jobs for the future.

Sectors including manufacturing and recycling – and for the first time controlled environment horticulture, industrial laundries and textile renting facilities – will be among those eligible for apply for this new support, as part of wider government efforts to meet the UK’s net zero targets.

“From manufacturing chemicals to food and drink, UK industry is at the heart of our economy.

With over £190 million available for businesses to make the move to cleaner, cheaper energy – and with 12 projects benefiting directly today – we are delivering the support they need to decarbonise.

I look forward to seeing the plans developed by the successful clusters and encourage other businesses to apply to our Industrial Energy Transformation Fund, which has already made awards to over 150 projects to help companies go green,” said Minister for Energy Efficiency and Green Finance Lord Callanan.

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