Harnessing hydrogen and carbon capture and storage (CCS) technology represents a “unique opportunity” to build back better from Covid-19, according to a report.
On 18 November, Drax published analysis it commissioned from Vivid Economics, which looked into the socio-economic benefits of deploying CCS and hydrogen technologies at scale across the wider Humber industrial cluster. With the Zero Carbon Humber partnership, which includes Drax, recently submitting a joint public-private sector funded bid worth £75mn to support the deployment of CCS and hydrogen technologies in the region, the report said this illustrates the “significant potential” that CCS and hydrogen projects present to safeguard existing jobs and create new, highly skilled ones.
By deploying CCS and hydrogen technologies in the Humber, the report found as many as 49,700 jobs would be created – 25,200 in construction and 24,500 supported across the supply chain and the wider economy. If the Humber’s net zero model to accelerate the CCUS and hydrogen sector was used across the UK, the report forecast that it could lead to the creation and support of 205,000 direct and indirect jobs.
As well as helping to reverse a growing skills and investment gap in the region, deploying CCS and hydrogen technologies in the Humber would also deliver a substantial economic benefit. The report found it would deliver an economic uplift of over £3.2bn. Bringing the benefits of CCUS and hydrogen across the UK would result in an uplift of £14.7bn.