Industry News: UK’s 2024 Budget

The new UK budget underscores a strong commitment to clean energy with impactful investments:​

1. Hydrogen & Carbon Capture: £500 million is allocated to hydrogen production and infrastructure, plus £1 billion towards Track 1 carbon capture and storage (CCS) projects. These initiatives will accelerate the shift towards cleaner, greener energy solutions.​​

2.  GB Energy Hub in Aberdeen: With £125 million in funding, this hub is set to become a focal point for the UK’s renewable energy efforts, encouraging private capital to scale up the energy transition.​​

3. Investment Zones for Green Growth: New zones in Aberdeen, Glasgow, and the East Midlands will support green industry growth, advanced manufacturing, and sustainable infrastructure, aligning with the UK’s upcoming Industrial Strategy.​​

These investments reflect a pivotal move towards achieving net-zero goals and a sustainable energy future!​​ Read more here.