The UK Government has today announced £139m to cut emissions in heavy industry by supporting the transition from natural gas to clean hydrogen power and scaling up carbon capture and storage technologies.
According to the UK Government, the scale up of such carbon technologies can stop over 90% of emissions being released from industrial plants into the air by storing carbon permanently underground.
Prime Minister Boris Johnson has said he hopes the funding boost announced today will help drive decarbonisation and drive economic recovery from the coronavirus pandemic.
“We’ve made great strides towards our net zero target over the last year, but it’s more important than ever that we keep up the pace of change to fuel a green, sustainable recovery as we rebuild from the pandemic,” said Prime Minister Boris Johnson.
“The UK now has a huge opportunity to cement its place at the vanguard of green innovation, setting an example worldwide while growing the economy and creating new jobs.”
Today’s announcement has already been welcomed by the Global CCS Institute and is well aligned with the Government’s commitment to reach net zero emissions by 2050.
The £139m funding announcement is part of a £350m commitment from the UK Government to fuel green recovery.