Over £116 million (€136 million) in new UK Government funding will boost green innovation across the nation, including bioenergy with carbon capture and storage (BECCS) technology.
The funding will see projects across the UK develop new technologies that increase energy efficiency in homes and buildings, reduce carbon emissions, boost the UK’s energy security, and provide cleaner ways to generate power and heat.
From yesterday, businesses developing technologies new to the UK can bid for a share of £64 million (€75 million) in government funding supporting projects that will capture carbon emissions and remove greenhouse gases from the atmosphere, through the Direct Air Capture and Greenhouse Gas Removal programme.
A range of green technologies will be supported under the first phase of the programme, including BECCS. Through this new funding, under the second phase, these projects will be developed from the design stage into demonstration projects, which could scale up to be commercial projects by 2025.
Energy and Climate Change Minister, Greg Hands, said the funding will support businesses “to turn their green ideas into reality”, and develop ‘ground-breaking projects’ that save energy, cut bills, and tackle pollution.
“British businesses and entrepreneurs are already leading the world with innovative solutions to tackling climate change,” he said. “This is not only good for the planet but will bring new jobs and investment to the UK.”
Additionally, the government is supporting energy entrepreneurs across the UK with £30 million (€35 million) to develop a range of decarbonisation and energy-saving technologies. Under the latest round of funding from the Energy Entrepreneurs Fund, 58 small and medium-sized enterprises (SMEs) will receive grants to develop and demonstrate new technologies in the energy efficiency, power generation, heat generation and energy storage spaces.
A further £22.8 million (€26.7 million) in funding will provide SMEs with support services to accelerate their green innovations. A consortium of organisations, led by the Carbon Trust, will ensure the SMEs funded through the government’s Net Zero Innovation Portfolio receive business development advice for their technology.