US EditionUK's Reeves announces National Wealth Fund investment in carbon capture
DERBYSHIRE, ENGLAND, JUL 6 – The National Wealth Fund's £28.6 million investment aims to create thousands of skilled jobs and attract £31 million in private funding for carbon capture infrastructure.
- A Government-backed fund is investing over £28 million in a carbon capture project called Peak Cluster, which aims to reduce emissions from cement and lime companies in the Peak District.
- Energy Secretary Ed Miliband stated that the investment will benefit workers in Britain's manufacturing heartlands, creating thousands of skilled jobs.
- The £28.6 million is part of the National Wealth Fund, which was established by the Government last year to invest in clean energy and promote private investment.
- The Peak Cluster project aims to transport carbon emissions from cement and lime companies to be stored under the Irish Sea.
11 Articles
11 Articles
Rachel Reeves Unveils £28.6 Million Investment in Carbon Capture
British finance minister Rachel Reeves is set to reveal a £28.6 million investment by the National Wealth Fund for carbon capture projects in central and northern England. This move aims to support Britain's net-zero emissions target by 2050 while boosting job creation in energy-intensive sectors.
Energy Voice
National Wealth Fund to put £28m into carbon capture project
UK's Reeves announces National Wealth Fund investment in carbon capture
British finance minister Rachel Reeves will announce on Monday a 28.6 million pound ($39 million) investment by the National Wealth Fund in a carbon capture project that could create jobs in central and northern England.
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