CCS competition to receive £20mn boost
Ed Davey, Energy Secretary has launched a competition with a value of £20 million to fund the development of Carbon Capture and Storage technology. He has welcomed bids to develop more efficient and cost-effective CCS components and systems for a pilot demonstration.
CCS is recognised as being crucial to the UK meeting its climate change and emission reduction targets.
The innovation ideas if incorporated into the UK supply chain could reduce the costs of future commercial CCS deployment in the UK. This industry is estimated to be worth as much as £6.5 billion a year by the late 2020s.
The competition fund is alongside the £1billion fund committed by the UK to funding commercial scale CCS projects.
“Carbon Capture and Storage will play a vital role in ensuring we develop a low carbon energy mix. We are helping to create a new industry in the UK and are well placed to become a world leader. The UK’s first carbon capture pilot, opened at Ferrybridge last year, is an early example of what CCS means in terms of jobs and growth. More than 20 UK based companies provided parts and services to the project.”
“By supporting research and development, this £20 million competition is an important step towards making cost competitive CCS a reality by the 2020s.”
CEO of the Carbon Capture and Storage Association, Jeff Chapman continues:
“CCS has the potential to make massive reductions in our national CO2 emissions in a very cost-effective manner. This R&D funding is most welcome to help optimise the technology, save costs and put the UK into a strong competitive position in world markets.”
Philip Sharman, Chair of the UK’s Advanced Power Generation Technology Forum, said:
“This £20 million competition is another firm step forward for the UK CCS Industry. Innovation and developing new CCS technology is vital to keeping up the momentum to create a commercial CCS market by the 2020s. I’m sure that I speak for most of our APGTF members in saying that we welcome this announcement today and the Government’s commitment to work with us to get us there.”