The UK has a deep pool of innovative companies working to combat climate change, and the Prime Minister’s 10 Point Plan for a Green Industrial Revolution emphasised how it will become the world’s number one centre for green technology. Through launching the Net Zero Innovation Portfolio the Government committed £1 billion to accelerate the commercialisation of innovative low-carbon technologies, systems and processes in the power, buildings, and industrial sector.
The NZIP will fund UK based projects across ten priority areas including: future offshore wind; nuclear advanced modular reactors; energy storage and flexibility; bioenergy; hydrogen; homes; direct air capture; advanced CCUS; industrial fuel switching; and disruptive technologies such as artificial intelligence for energy.
Innovation is crucial for further developing the green technologies needed to meet net zero. The NZIP will decrease the costs of decarbonisation and set the UK on the path to a low carbon future as we look to build back greener.