Investors announce multi-billion investment at UK Global Investment Summit
Several companies have also pledged to invest in the UK hydrogen market, including Budweiser Brewing.
The UK Prime Minister will announce today (19th October) about securing £9.7 billion worth of deals at the Global Investment Summit.
The 18 deals will support growth in sectors including wind and hydrogen energy, sustainable homes and carbon capture and storage and create an estimated 30,000 UK jobs. The UK Government will also launch a new Investment Atlas today showcasing 53 strategic investment opportunities across the UK.
As part of the new investment committed today, Budweiser Brewing Group (the UK arm of global brewer AB InBev) and Protium (UK-based green hydrogen energy services company) have partnered to deploy zero-emission green hydrogen at the Magor brewery in South Wales, one of the largest breweries in the UK. They will invest more than £100 million for a hydrogen generation system that will fuel the brewery’s production and also its key logistics assets, including heavy goods vehicles and forklift trucks.
HyPoint will invest £6.6 million in establishing a headquarters in the South East to develop their next-generation hydrogen fuel cell system.
Meanwhile, Prime Minister Boris Johnson and Bill Gates also announced a new partnership between Breakthrough Energy Catalyst and the UK Government to drive £200 million investment into the next generation of ground-breaking clean energy technologies. The program focuses on four key green technology areas: green hydrogen, long term energy storage, sustainable aviation fuels and direct air capture.
In addition to hydrogen, Iberdrola plans to invest through ScottishPower £6 billion in the East Anglia Hub offshore windfarms. Prologis plans £1.5 billion in the UK over the next three years, developing net-zero carbon warehouses. Viridor (owned by US firm KKR) plans to invest up to £1 billion into cutting-edge decarbonisation technology across five of their UK sites. Eren Paper (owned by Turkish conglomerate Eren Holding) is investing £500 million to acquire a mill in Shotton, North Wales, and convert it to produce cardboard manufactured from paper waste and powered by biomass fuel. Peer-to-peer lending firm Zopa has raised £220 million, led by Softbank Vision Fund 2, to grow their responsible and sustainable banking and lending services in the UK.
Getir plans to invest £100 million to rapidly expand its sustainable and superfast grocery delivery service across the UK. Malaysian conglomerate Petra Group will invest £30 million in establishing the Petra Modular business in the UK for the production of sustainable modular homes and investment of £30 million in establishing Petra Group’s ‘Green Rubber’ business in the UK.
HiPoint AG will invest £50 million to create five new facilities to recover and process horse stall waste into reusable bedding, fertiliser & bio-fuels. Ultimate Battery Company will invest £28 million in setting up a UK production plant for lightweight, eco-friendly batteries. Global Marine will invest £10 million in building hybrid engine crew transfer vessels and surface effect ships to service offshore wind infrastructure.
Crowdz will invest £5 million to develop and launch an environmental, social and governance platform based on blockchain technology. Treedom will establish a UK office in London for their online platform for planting trees. Tes Amm doubling its electronic waste recycling solutions for lithium-ion batteries from electric vehicles, consumer electronics and IT & mobile technologies. Jacobs will grow their high-tech Birchwood laboratory in Warrington, where they carry out R&D, testing and cyber security operations that support critical UK national infrastructure. Huaneng will invest in the 50 MW Battery Storage project in StoneHill. Sumitomo Corporation is launching Presidio Ventures Europe, a venture arm of Sumitomo, focused on energy and mobility.