Funding will unlock private investment, says energy department
The government has announced up to 拢21.7bn of funding for carbon capture and hydrogen in the north of England.
Prime Minister Keir Starmer, chancellor Rachel Reeves, and energy Secretary Ed Miliband visited the North-west today to confirm the funding for two sites in Teesside and Merseyside.
The funding package will be made available over the course of 25 years with the aim of making the UK a global leader in carbon capture, utilisation and storage (CCUS) and CCUS-enabled hydrogen.
According to the Department for Energy Security Security and Net Zero, the funding will help unlock 拢8 billion of private investment into the communities.
CCUS technology removes CO2 emissions before they reach the atmosphere and stores it beneath the seabed.
The government claims the schemes could remove more than 8.5 million tonnes of carbon emission each year.
It also says the schemes will create 4,00 jobs directly and support 50,000 more in the long-term.
鈥淥n Monday, 150 years of coal in this country came to an end. Today, a new era begins,鈥� said energy secretary Ed Miliband.
鈥淏y securing this funding, we pave the way for securing the clean energy revolution that will rebuild Britain鈥檚 industrial heartlands.
鈥淚 was proud to kickstart the industry in 2009, and I am even prouder today to turn it into reality.
鈥淭his funding is a testament to the power of an active government working in partnership with businesses to deliver good jobs for our communities.鈥�
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