Industry News: New Budget
1st November 2024
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.
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