GHG Emissions, Industrial - October 7, 2024
UK Launches First Carbon Capture Locations
The UK government announced it has reached commercial agreement with industry and funding to launch carbon capture within the country.
Major funding for two carbon capture sites will inject growth into the industrial heartlands of the North West and North East of England.
CCUS technology removes CO2 emissions before they reach the atmosphere and stores CO2 safely beneath the seabed using tried and tested technology that has been deployed around the world for over 20 years.
In a boost for economic growth and protecting the environment, the new carbon capture and CCUS enabled hydrogen projects will help remove over 8.5 million tons of carbon emissions annually.
Prime Minister Keir Starmer, the Chancellor Rachel Reeves, and Energy Secretary Ed Miliband visited the North West to confirm the funding for two sites in Teesside and Merseyside, which are expected to bring in £8 billion of private investment into these communities.
“Today’s announcement will give industry the certainty it needs — committing to 25 years of funding in this groundbreaking technology — to help deliver jobs, kickstart growth, and repair this country once and for all,” said Prime Minister Keir Starmer in a statement. “Today’s announcement confirms up to £21.7 billion of funding available, over 25 years, to make the UK an early leader in 2 growing global sectors, CCUS and hydrogen, to be allocated between these 2 clusters. The UK’s commitment was first made in 2009, and the confirmation of funding today represents a major success story for British industry.”
The UK has enough capacity to store 200 years’ worth of emissions, making CCUS a revolutionary method in tackling the climate crisis and helping industry to decarbonize.
Read These Related Articles:
Stay Up-To-Date
