UK government invests £31m to assist transition

The UK government has announced funding of £31m to support companies in their efforts to implement transition plans and reduce emissions. Around one-fifth of the funding (£6.6m) is to help industries move away from gas, oil or “red diesel”, and towards alternatives such as green hydrogen. One fifth (£5.5m) will go towards technologies that support renewable power sources. The announcement from the UK Department for Business, Energy and Industrial Strategy states that the funds “will see the development of red diesel alternatives, such as e-fuels and green hydrogen, as well as technologies which capture and store energy that would ordinarily be wasted from a vehicle or machine so it can be used instead”. The investment is part of a broader effort to channel industrial policy in the UK towards incentivising green technology innovation.