NZTC responds to UK Autumn Budget

Chancellor Rachel Reeves has today confirmed that the UK Government’s new energy company, GB Energy, will receive £125 million in funding. GB Energy, headquartered in Aberdeen, will receive £100 million in capital funding in 2025-26 for clean energy project development and £25 million for set-up costs.

In her first budget, further support is shown for clean energy industries to create jobs across the UK, with backing for electrolytic hydrogen production, floating offshore wind port infrastructure, and the first CCUS clusters in the UK.

Aberdeen and the north-east of Scotland, home to the Net Zero Technology Centre (NZTC), are already at the forefront of the energy transition, supporting thousands of jobs in oil and gas, offshore wind, and emerging cleantech industries. NZTC has unlocked tens of millions of pounds from the private sector and co-invested £400 million to advance and deliver technology development and demonstration projects.

Commenting on the UK Budget, Myrtle Dawes, CEO of the Net Zero Technology Centre, said:

“We welcome this investment and government support, which will be key to advancing R&D, driving innovation, and unlocking the potential of emerging clean energy technologies, propelling us towards a responsible and successful energy transition.

“For decades, Aberdeen and the north-east have been at the forefront of energy innovation. With GB Energy’s presence and the development of other schemes to support the transition to a greener future, we are poised to lead the next chapter in the global energy revolution.

“Ministers must act swiftly to initiate additional green energy projects. We look forward to collaborating with the UK Government, GB Energy, and our diverse network of developers and partners to accelerate the development and deployment of cutting-edge technologies, positioning the UK as a global leader in clean energy.”