Energy and Clean Growth Minister Claire Perry confirmed today that a consortium of industrial associations including UK Steel, British Glass and the British Ceramics Confederation, had been awarded £66 million from the Industrial Strategy Challenge Fund. The new fund titled ‘Transforming Foundation Industries’, will proving public funding for a range of R&D projects aimed at reducing the environmental footprint of the foundation industries (steel, glass ceramics, chemicals, cement) in the UK, as well as enabling the development of new products that can help reduce the carbon footprint of wider society.
This marks the successful culmination of over 18 months of work amongst UK Steel and its members companies, with the funding proposal originally starting life as a steel specific fund within the Steel Sector Deal proposal in 2017, before joining forces with other foundation sectors to develop this collaborative and ambitious proposal that will start to deliver projects next year.
In our press release acknowledging this significant achievement for the steel sector Gareth said that, “this is enormously positive news for the steel and wider foundation sectors. For years industry has conveyed the same core messages to governments of all colours. Firstly, that decarbonising our economy and maintaining industrial competitiveness in the UK will require a more nuanced and hands on policy approach. Secondly, that continued innovations in our products can deliver emissions reductions in wider society that far outweigh the direct impact of their production.”