Government commits £350m to supercharging green recovery

The package of funding is set to accelerate the decarbonisation of heavy industry, construction, space and transport sectors

Around £350 million of new funding has been made available to drive the decarbonisation of heavy industry, construction, space and transport sectors.

The Prime Minister has announced a new multimillion-pound investment package to support efforts to tackle climate change and accelerate economic recovery after coronavirus pandemic.

Around £139 million will be spent to support the transition from natural gas to clean hydrogen power and scale up carbon capture and storage technology.

Several projects, which prioritise the development of recyclable steel, the reuse of waste ash and other innovative materials in the heavy industry, will also benefit from a grant of £149 million.

Another £36 million will finance new building techniques in order to reduce construction costs and emissions and improve productivity and building quality.

A new national space innovation programme, which will monitor climate change across the globe and protect local areas from the impacts of extreme weather conditions, is also backed by £15 million from the UK Space Agency.

Research and development in the automotive sector for more efficient electric motors and more powerful batteries are supported with £10 million.

Prime Minister Boris Johnson said: “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.”

Business and Energy Secretary, Alok Sharma, added: “This funding will reduce emissions, create green-collar jobs and fuel a strong, clean economic recovery – all essential to achieving net zero emissions by 2050.”

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