The UK Government has opened two innovation funds designed to help businesses like Ineos in Grangemouth to plan and deploy technology to help reach net-zero emissions by 2050.
The funding, overseen by UK Research and Innovation (UKRI), allows businesses to apply for a share of up to £1 million to develop plans to decarbonise industrial clusters and another share of up to £1 million to create roadmaps to plot a course to net-zero by 2050 – up to £140 million could then be accessed by successful applicants.
The Deployment and Roadmaps funds are being opened as part of the wider Industrial Decarbonisation challenge that commits £170 million towards technologies such as carbon capture and hydrogen networks.
These technologies will help decarbonise industrial clusters located in Grangemouth, Merseyside, Teeside, Humberside, South Wales and Southampton.
Bryony Livesey, Industrial Decarbonisation director, said: “This is a great opportunity for businesses to contribute to decarbonising a cluster of industries. These initial competitions are an important first step for businesses to tell us their ideas and plan to accelerate cost-effective decarbonisation.”