The UK government will commit more than £448 million of public investment to bolster the government’s UK SHORE program, which supports the research and development of new clean maritime technologies and fuels, including electric, hydrogen, ammonia, methanol and wind power.
“We’re committing almost half a billion to cut carbon emissions from shipping – steering us towards net zero by 2050 and cementing Britain’s place as a clean energy superpower through our Plan for Change,” said UK transport Secretary, Heidi Alexander
As part of the UK SHORE program, the government provides funding to businesses and academia, enabling them to take forward innovative, green projects and clean maritime technologies and fuels and leverage further investment from the private sector to deliver real-life technology, which reduces carbon emissions from shipping.
Overall, previous maritime decarbonization funding has delivered over £110 million in direct private investment and benefitted over 500 UK companies, the government said, including 250 SMEs.
Additionally, Peel Ports is investing £300 million in its Liverpool, Hunterston and Great Yarmouth ports, while NatPower Marine has unveiled £250 million for shore side power, which is estimated to support over 2,000 skilled jobs in engineering, construction and green technology services across the UK, particularly within local port communities. Furthermore, the Port of Tyne’s £150 million North Side development site could potentially create up to 12,000 jobs in offshore wind and manufacturing.
“Accelerating offshore wind, renewable energy and advanced manufacturing is a national priority and requires decisive action,” said Matt Beeton, CEO at the Port of Tyne. “Boosted by Industrial Strategy Zone status, our 230-acre North-side expansion to the Tyne clean energy park will help the UK execute its 2030 clean power target.
