UK government issues update on The Net Zero Innovation Portfolio
The Net Zero Innovation Portfolio is a £1 billion fund, announced in the Prime Minister’s ten point plan for a green industrial revolution, to accelerate the commercialisation of low-carbon technologies, systems and business models in power, buildings, and industry.
The Portfolio will decrease the costs of decarbonisation and set the UK on the path to a low carbon future. It will create world-leading industries and new green jobs, invest in our regions, and help make the UK a science and innovation superpower.
Focussed on 10 priority areas, it includes:
floating offshore wind
nuclear advanced modular reactors (supported through the aligned Advanced Nuclear Fund)
energy storage and flexibility
bioenergy
hydrogen
homes
direct air capture and greenhouse gas removal (GGR)
advanced CCUS
industrial fuel switching
disruptive technologies
The Net Zero Innovation Portfolio succeeds the BEIS Energy Innovation Programme (EIP) which ran from 2015-2021.
