UK backs CCUS with £20bn funding pledge
Government commitment reassures investors and paves way for first two industrial clusters
The UK government has committed up to £20bn ($24bn) to support the deployment of CCUS in a move that enables the development of two planned low-carbon industrial clusters to go ahead. The first tranche of funding will go to CCUS projects to be deployed within the UK’s 'track one’ East Coast and Hynet clusters. A shortlist of projects applying for funding will be published later this month. Further CCUS projects will be able to enter a selection process later this year for inclusion in those clusters. “I am allocating up to £20bn of support for the early development of CCUS, starting with projects from our East Coast to Merseyside to North Wales—paving the way for CCUS everywhere across the U

Also in this section
22 September 2023
A flurry of interest in direct air capture signals a key role for the technology in the push for net zero
21 September 2023
Technology company says its latest technologies can achieve 30–50% cost reductions at the capture stage
20 September 2023
Curbing emissions globally by using international carbon market mechanisms reduces the cost of mitigation, Andrea Bonzanni, international policy director at the IETA, tells Carbon Economist
19 September 2023
Mideast Gulf state keen to highlight progress made on expanding carbon sequestration capacity and diversifying e-fuels production ahead of COP28