The UK government awarded UK businesses in the most energy intensive sectors the opportunity to bid for a share of £12.4 million to help reduce CO2 emissions and improve energy efficiency.
The funding will support 22 projects across pharmaceuticals, steel, paper, food and drink and other manufacturing industries to clean up their industrial processes. The awards form part of the Industrial Energy Transformation Fund, first launched in June 2020, which has so far provided £34.8 million to businesses across the UK.
It is estimated that industry is currently responsible for producing 16% of the UK’s emissions and will need to cut emissions by two thirds by 2035 in order for the UK to achieve its net zero target.
The latest round of funding will play a crucial role in helping to clean up big-emitting industries as part of the UK’s green industrial revolution – decarbonising their industrial processes and reducing their reliance on expensive fossil fuels, such as gas. This means businesses will not only reduce their environmental impact, but also save on their energy bills and safeguard thousands of jobs.
Graham Stuart, Minister at the Department for Energy Security and Net Zero said:
“Boosting the energy efficiency of industrial processes is a critical step not only in our transition to a lower-carbon economy, but also by helping businesses to cut their energy costs and protect valuable British jobs.
“That’s why the government has stepped in once again to support energy intensive industries, with a fresh funding round to unleash the next generation of green innovators who are re-shaping the way technology can reduce carbon emissions.”
The funding has supported the deployment of a range of new technologies, from heat pumps to hydrogen ready equipment, to help businesses cut fossil fuel use and improve energy efficiency.
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