The Peak Cluster project is being backed with £28.6 million from the National Wealth Fund in a big boost to Britain’s transformation into a clean energy superpower.
In its announcement, the government described the funding as the “first step” towards developing a leading carbon capture pipeline between cement and lime companies throughout the Peak District, leading to emissions being stored below the Irish Sea.
As the world’s largest cement decarbonisation project, the Peak Cluster will see over 3 million tonnes of CO2 prevented from entering the atmosphere every year. This will pave the way for a secure domestic supply of cement and lime products, strengthening Britain’s construction and manufacturing sectors.
Private partners, such as Holcim, Tarmac, Breedon, SigmaRoc, Summit Energy Evolution and Progressive Energy, as well as the Morecambe Net Zero (MNZ) project have put in £31 million, with the project expected to create and secure 13,000 jobs across the Midlands and North West.
John Egan, CEO of the Peak Cluster, pledged that they will work with the government and MNZ to secure the future of the carbon capture industry, “creating a backbone of industrial opportunities that benefits communities across the Midlands and North West of England – for the UK and beyond”.
Egan continued: “Through the National Wealth Fund, Government will support the development of essential infrastructure to secure good jobs with good wages, produce sought-after low carbon products here in Britain, grow the UK’s supply chain and skills base, secure private investment and lead the global low carbon technology sector. Peak Cluster, in partnership with MNZ, ticks every one of these boxes.”
