One of the UK’s most advanced hydrogen and carbon capture, usage and storage (CCUS) projects has secured £72m to transform the North West into a low carbon industrial cluster.
HyNet North West today (17th March) shared news of the funding that will help accelerate a final investment decision in 2023 for the initial phase and become operational in 2025.
Funds of £33m were received from UK Research and Innovation (UKRI) through the Industrial Decarbonisation Challenge fund, and £39m was from consortium partner contributions.
An essential part in the UK Government’s 10-point-plan for a green industrial revolution, the project will help transition the UK to net zero greenhouse gas emissions by 2050.
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