30,000 new jobs are being created in the UK with investors pledging £9.7 billion of new foreign investment. These low carbon sector deals, or better known as green energy projects, include investments in sectors like sustainable homes, wind and hydrogen energy and carbon capture (the trapping of carbon dioxide, transporting it and isolating it.), taking the lead in UKs leadership for the COP26.
Prime Minister Boris originally revealed that £5.8 billion in foreign investment had been confirmed but unveiled the full list of 18 new trades and investment deals reaching £9.7 billion. This comes since the announcement of the UK’s Ten Point Plan which looks to invest £12 billion into the Green Industrial Revolution. The aim includes mobilizing £42 billion of private investment by 2030 and reducing UK emissions by 180 million tonnes by 2035 and reaching net-zero by 2050.
The 18 deals are, in no particular order:
• 7,000 jobs created by £6bn investment from Spanish firm Iberdrola through Scottish Power in the East Anglia Hub offshore windfarms.
• 14,000 jobs created by California-based Prologis investing £1.5bn over three years to develop zero carbon warehouses.
• 1,180 jobs generated by Viridor, owned by US firm KKR, investing up to £1bn in cutting edge decarbonisation technology across five of its UK sites.
• 300 jobs will be created by Turkish company Eren Paper who will invest £500M to acquire a mill in producing cardboard from paper waste and will be powered by biomass fuel.
• Zopa has raised £220M to develop their responsible and sustainable banking and lending services in the UK with the help of Japanese conglomerate Softbank Vision Fund 2.
• Budweiser Brewing group will invest £100M towards deploying zero-emission green hydrogen at the Magor brewery in South Wales. This investment will focus on a hydrogen generation system that will fuel the brewery’s production and also its key logistics assets, including heavy goods vehicles.
• 7,000 jobs will be created by Turkish delivery company, Getir, which will invest £100M to expand its sustainable and superfastgrocery service across the UK.
• 335 jobs created by Malaysian conglomerate Petra Group who are investing £30M to create Petra Modular in the UK, which will produce sustainable modular homes and an additional £30M will be invested by Petra Group to establish its ‘Green Rubber’ business.
• 90 jobs created by Canadian company HiPoint AG who will invest £50M to establish five new facilities for the recovery and processing of horse stall waste into reusable bedding, fertiliserand biofuels.
• 300 jobs generated by Ultimate Battery Company, which are looking to invest £28m to set up a UK production plant for lightweight, eco-friendly batteries.
• 10 jobs being created by Global Marine with a £10M investment in building new hybrid engine crew transfer vessels and surface effect ships that will service offshore wind infrastructure.
• 10 jobs will be created by American company HiPoint who are establishing a headquarters in southeast England for the development of its next-generation hydrogen fuel cell system with a £6.6m investment.
• Seven jobs created by Silicon Valley startup Crowdz will invest £5m to develop and launch an environmental, social and governance platform based on blockchain technology.
• Ten jobs will be created by the Italian initiative Treedom who are looking to establish an office in London for their online platform for planting trees.
• 15 jobs created by Tes Amm, who will double its electronic waste recycling solutions for lithium-ion batteries from electric vehicles, consumer electronics and IT & mobile technologies.
• 150 jobs created by American nuclear giants Jacobs who are expanding its high-tech Birchwood laboratory in Warrington, and will carry out research and development, testing and cyber security operations that support critical UK national infrastructure.
• Said to represent a historic milestone for energy storage in the UK, Chinese electricity company Huaneng will invest in the 50MW Battery Storage project in Stonehill.
• The Japanese corporation Sumitomo will focus on energy and mobility by launching a venture arm called Presido Ventures Europe.
These investments have been timed perfectly with the Global Investment Summit in London which looked to bring together more than 200 business executives. The prime minister stated the “massive potential in the UK for growth and innovation” and companies from all over the world have recognized the potential.
With so many companies coming forward to invest in UK’s climate change action, Mr Johnson will also be partaking in a panel discussion with Bill Gates, Microsoft co-founder and philanthropist, and discuss the significant roles that private sectors have and will play in overcoming environmental changes we are faced with today.
The COP26 climate summit in Glasgow, one of the worldslargest meetings to tackle global warming, will be commencing in just a couple of weeks. There, we can better understand how these changes will truly be impacting the UK in the future