UK finance minister Jeremy Hunt
UK backs CCUS with £20bn funding pledge
Government commitment reassures investors and paves way for first two industrial clusters
The UK government has committed up to £20bn ($24bn) to support the deployment of CCUS in a move that enables the development of two planned low-carbon industrial clusters to go ahead. The first tranche of funding will go to CCUS projects to be deployed within the UK’s 'track one’ East Coast and Hynet clusters. A shortlist of projects applying for funding will be published later this month. Further CCUS projects will be able to enter a selection process later this year for inclusion in those clusters. “I am allocating up to £20bn of support for the early development of CCUS, starting with projects from our East Coast to Merseyside to North Wales—paving the way for CCUS everywhere across the U
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