UKPIA welcomes support for decarbonisation projects

UKPIA welcomes the announcement of £171 million of funding towards major decarbonisation projects involving a number of UKPIA member companies.

The Department for Business Energy and Industrial Strategy has announced Industrial Decarbonisation Fund projects that it will be supporting in coming years. UKPIA member companies are active in almost all the successful projects, which each have a significant role to play in decarbonising industry as well as supporting high quality jobs right across the UK throughout the energy transition.

  • North West – Essar’s Stanlow refinery is central to the HyNet consortium’s plan of creating blue hydrogen and capturing carbon under the Liverpool Bay.
  • Teesside – bp will lead as operator and Shell are part of the group of companies which plans to store captured carbon from the Teesside and Humber clusters in the Endurance field in the North Sea.
  • Humber – Phillips 66 Ltd. is active in Humber Zero that plans to create a carbon capture and hydrogen hub that will help reduce industrial emissions in the region.
  • South Wales – South Wales Industrial Cluster is the largest cluster by geography with Valero’s Pembroke refinery located on the West of the cluster which is considering hydrogen and carbon capture deployment options that can decarbonise heavy industry across South Wales.

UKPIA director general, Stephen Marcos Jones, said:
“UKPIA is pleased to see that our member companies are actively involved in so many of the £171m Industrial Decarbonisation Fund projects that will receive funding – a vital next step towards net zero and bringing strong ambitions from our sector one step closer to delivery.

“Today’s funding will help companies to progress their projects from concept phase towards final investment decision and ‘metal in the ground’ at a time when investment hurdles are still extremely high and are compounded by the impact the pandemic has had on industry. The importance of UKPIA members in almost all of these projects should not be underestimated and this is proof that the sector is a committed and a needed partner in the UK’s efforts to reach net zero.

“The significant role of our sector was shown in UKPIA’s own Transition, Transformation, and Innovation report just a few months ago, which we note is referenced in the new Industrial Decarbonisation Strategy. We will look to fully understand and engage with BEIS on the Industrial Decarbonisation Strategy in the coming weeks.”

 

 

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