Hydrogen and carbon capture, utilisation and storage (CCUS) technology manufacturing has received a funding boost after the UK Chancellor revealed his Spring Budget today (March 6).
Chancellor Jeremy Hunt earmarked £360m ($458m) to boost manufacturing and R&D while announcing a 12-month extension to the windfall tax on energy firm’s profits.
£120m ($153m) of funding has been put down for the Green Industries Growth Accelerator (GIGA), taking the initiative’s budget up to almost £1.1bn ($1.4bn), with £390m ($496m) now dedicated to carbon capture, utilisation and storage (CCUS) and hydrogen.
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