UK Government Awards GBP166.5 Million Technology Funding to Decarbonize Industry

The U.K. government said Monday that it has approved a 166.5 million pounds ($235.6 million) funding package to develop technologies needed for a green industrial revolution.

The Department for Business, Energy & Industrial Strategy said the money will support technologies in carbon capture, greenhouse-gas removal and hydrogen, while also helping find solutions to decarbonize the manufacturing, steel, energy and waste sectors.

The investment will help energy-intensive businesses like Tate & Lyle Sugars, BAE Systems PLC (BAESF) and Celsa Manufacturing UK Ltd., the government said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

Corrections & Amplifications

This item was corrected on May 25, 2021 to clarify that The U.K. government's investment will help energy-intensive businesses like Tate & Lyle Sugars, not Tate & Lyle PLC.

The U.K. government's investment will help energy-intensive businesses like Tate & Lyle Sugars, a sugar-refining company. "UK Government Awards GBP166.5 Mln Technology Funding to Decarbonize Industry," at 0908 GMT, incorrectly said the money will benefit Tate & Lyle PLC, the FTSE 250 supplier of food and beverage ingredients.


  (END) Dow Jones Newswires
  05-24-21 0508ET
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