Government investment to support carbon capture and hydrogen - 14 October

On 4 October 2024, the government announced £21.7 billion of funding for two carbon capture sites, which supports the low carbon hydrogen sector.

“We know that by investing in Carbon Capture and Storage as well as the large scale creation of Low Carbon Hydrogen, that industry can be enabled in their efforts to decarbonise. The North West is home to iconic, and innovative businesses, many of whom have been at the forefront of this effort for several years. Today is testament to the hard work and commitment of those colleagues who make up the HyNet consortium.

This investment will enable the faster, greener, collective re-industrialisation of the region, allowing UK companies to successfully compete in international low carbon markets and win new business.

It also means that the raft of opportunities that industrial decarbonisation brings can be realised - such as creating and securing jobs, increasing and improving workers’ skills, and reducing UK carbon emissions by up to 10 million tonnes every year – the equivalent to removing four million cars from the road." - Steve Fraser, Chief Executive Officer, Cadent.