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PEAK DISTRICT, ENGLAND, UNITED KINGDOM, JUL 7 – The £28.6 million investment will help capture over 3 million tonnes of CO2 annually and create up to 3,500 jobs, supporting the UK’s transition to clean energy and industrial growth.
- On Monday, Rachel Reeves announced a £28.6 million National Wealth Fund investment into the Peak Cluster project to support decarbonising the cement and lime industries.
- Amid doubts, MPs said the Public Accounts Committee branded carbon capture `unproven` and warned of a high-risk gamble, following last year's Autumn Statement designation.
- In detailing the initiative, Neil McCulloch said `Through our partnership with Peak Cluster, the MNZ carbon store will decarbonise 40 per cent of the UK’s cement production and help create new, highly-skilled jobs`.
- Ministers said the project will create around 1,500 new jobs, while supporting 2,000 existing roles across Derbyshire, Staffordshire and the North West.
- Support for Peak Cluster is stimulating large-scale future investments, part of the UK’s broader push to build a resilient carbon capture industry alongside hydrogen, EV supply chains and steel.
18 Articles
18 Articles
The £59m carbon-capture pipeline that could create hundreds of jobs
Hundreds of new jobs will be create by a scheme to build a pipeline to capture carbon emitted by factories in the Peak District and transfer it for storage below the Irish Sea, the Government has said.The Peak Cluster project is expected to support more than 2,000 existing jobs in the Derbyshire-Staffordshire region and create 1,200 construction roles to build the pipeline and capture plants.The carbon capture pipeline network would link five ma…
UK Fund Invests Millions in Carbon Capture Project
A government -backed fund is pledging more than £2 for a carbon capture project. Energy secretary Ed Miliband has said that workers in “Britain’s manufacturing heartlands” will benefit from the investment in the Peak Cluster works. Peak Cluster is working towards a pipeline that will take carbon emissions from cement and lime companies in the Peak District and store them below the Irish Sea. The £28.6 million is coming from the National Wealth F…
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