UK National Wealth Fund invests in cement and CCS project
UK government investment vehicle The National Wealth Fund has made a £28.6m equity investment in a cement decarbonisation project in the north of England, Peak Cluster, to support the development of a carbon dioxide transport pipeline.
The investment is part of a larger £59.6m equity raise, which also includes investment through a joint venture vehicle between Summit Energy Evolution (part of Sumitomo Corporation) and Progressive Energy Peak, as well the Peak Cluster cement and lime producers Tarmac, Breedon, Holcim and SigmaRoc.
Once constructed, the Peak Cluster project and pipeline aims to be at the heart of a full value chain carbon capture and storage (CCS) network. The pipeline will transport CO2 emissions captured on its industrial plants across Derbyshire and Staffordshire to be stored by Morecambe Net Zero (MNZ).
UK–Dutch company Spirit Energy is currently converting its Morecambe gas fields in the East Irish Sea to create the UK’s biggest carbon dioxide store.
… to continue reading this article and more, please login, register for free, or consider subscribing to gasworld
Register today
You’ve reached your weekly limit to access free articles!
Want to keep reading?
Please register for free and create a profile to gain access to this full article and gasworld’s daily news.
For access to more content including our monthly digital magazines, subscriber-only features or columns and all our other gasworld archives, please consider subscribing.
Alternatively, you can continue reading more articles as a guest on Tuesday, 8th July at 12:53PM
