(UK) -- The development of innovations to help reduce emissions from power stations and CO2 intensive industries is to receive a major boost after the Technology Strategy Board announced today that it is to invest £15 million on behalf of the government in over 30 new research and development projects and studies.
The Technology Strategy Board is joining with the Department for Energy and Climate Change (DECC) and the Northern Way partnership to invest in innovative technologies which, once fully developed, will contribute significantly to meeting UK and EU climate change targets, whilst providing significant global market opportunities for British companies.
The innovative carbon abatement technologies will tackle CO2 emissions from large single point sources, primarily fossil-fuel power plants and large process industries such as those related to petrochemicals, cement and metals production. As well as ten major collaborative research and development projects, twenty-one small and medium-sized companies with technologies they believe could provide innovation and added value to carbon abatement technologies will receive funding to undertake technical feasibility studies to support their business case.
Explaining the background to the investment decision, the Technology Strategy Board’s Chief Executive, Iain Gray, said:
“The introduction of renewable energy technologies will, over time, reduce our dependence on fossil fuels. However, these will continue to dominate our energy supply for at least another 40 years. In addition, the continuing drive and increasing political and regulatory pressure to reduce CO2 emissions means that our large process industries also need to urgently address this challenge.
Given these scenarios, it is clear that the development and demonstration of innovative, cost effective technologies which reduce CO2 emissions are essential if our fossil-fuel power plants and large process industries are to remain viable. Working in partnership with DECC and the Northern Way, we hope to put the UK in a position to take advantage of the emerging global market in CO2 capture and storage.”
Commenting on the support provided by the Northern Way, its Chairman Hugh Morgan Williams said:
“Businesses across the North of England have seen particular benefit in this programme, and we were delighted to support the Technology Strategy Board in promoting a positive response from firms based in the North. We have a huge potential to use our existing capacity in areas such as advanced manufacturing to play a leading role in this vital new technology, securing economic benefits while at the same time supporting the transition to a low carbon economy”.
For further information, please contact:
Technology Strategy Board
Block A, North Star House
North Star Avenue
Swindon
SN2 1UE
Tel: +44 (0)1793 442700 +44 (0)1793 442700
Contact Name: Nick Sheppard
Email: nick.sheppard@tsb.gov.uk
Web: www.innovateuk.org
Source: http://www.pandct.com/media/shownews.asp?ID=23692