Wednesday 4 November 2020

Government injects £134m into green tech solutions to help the UK build back better

A new £134 million package has been announced to support green tech solutions that will help UK businesses to build back better.

Around 1,069 projects are set to benefit from the investment - among the beneficiaries is a Bristol-based marine company which has developed a technology that will allow autonomous underwater monitoring of large offshore wind turbines.

A biorefinery that will convert seaweed into food and compostable packaging products and a project that uses AI to reduce beer waste have also secured a share of the funding.

The £134 million funding comes from Innovate UK’s Sustainable innovation Fund, which was launched as part of the £550 million package of measures to support SMEs respond to Covid-19.

Business Secretary Alok Sharma said: "The UK’s response to coronavirus has demonstrated the very best of British ingenuity, and it is this resourcefulness that will help us navigate our way through this pandemic.

"Today’s investment will ensure that our innovators and risk-takers can continue to scale up their ideas, helping the UK to build back better and ensure we meet our clear commitments on tackling climate change."