[ad_1]
- Gateshead goes green as North East hosts top global executives at landmark trade expo to secure new investment in UK industries of the future
- The Business Secretary says “now is the time to future-proof our economy” and welcomes decarbonising investment, creating £20 billion of jobs over the past two years.
- Announcements at the Expo included a £26 million finance package to export Northern Ireland-built zero-emission buses around the world.
Trade Secretary Cammy Badenoch MP will call investment in clean energy a “future-proofing force that will help us build a better tomorrow” at a landmark business event in the North East of England.
Speaking to an audience of global investors and executives at the Green Trade and Investment Expo in Gateshead, she will set out a three-pronged approach to using trade to ensure the UK is ready to tackle critical global challenges.
Industry growth and innovation will be a key part of the UK’s Green Trade approach, supported by significant international investment, to tackle climate change, protect our energy security and create high-paying jobs in the industries of the future.
The speech will celebrate the figures which show that the UK’s progress towards clean and sustainable energy is delivering huge economic benefits for the UK. Over the past two years, the government has secured £19.8 billion in new investment, creating 11,000 new jobs. Total foreign investment in 2021-2022 alone has created around 85,000 new jobs for people across the UK. An unprecedented £100 billion of private sector investment is expected to support around 500,000 new jobs by 2030.
Ahead of the speech, Commerce Secretary Cammy Badenoch said:
We know that trade and investment grow our economy, create jobs and put money in people’s pockets – but they also have the power to tackle the challenges we see around the world.
Now is the time to future-proof our economy by investing in cutting-edge green technologies, protecting our long-term energy security, and creating thousands of jobs in the industries of the future.
In just two years we’ve helped secure £20 billion of green investment from everywhere from Spain to South Korea, creating 11,000 jobs. I am committed to continuing the trading drum for Britain to boost economic growth and level the UK for generations to come.
Organized by the Department for International Trade (DIT) and the Department for Business, Energy and Industrial Strategy (BEIS), the Expo brings together UK businesses and global investors to take advantage of the business opportunities arising from the UK’s journey towards net zero.
Graham Stewart, Minister of State for Climate Change, said:
The UK is number one in Europe for renewable investment opportunities, with the largest offshore wind capacity, one of the largest potential CO2 storage bases and a fast-emerging center of excellence for hydrogen propulsion and EV batteries.
Deals struck here in Gateshead will not only boost our country’s green transition and energy security, but will grow the UK economy – supporting livelihoods and helping our fight against climate change.
Announcements expected at the expo include Northern Ireland-based bus manufacturer Rightbus securing an £18 million green trade loan and an £8 million green bank guarantee, with 80 per cent guaranteed from UK Export Finance (UKEF). This will enable them to export cutting-edge net-zero buses to new export markets based on their existing contracts across the world, including Australia and Germany.
Jörg Hoffmann, CEO of WriteBus, said:
At RightBus, we are entering the next phase of our ambitious growth plan, significantly increasing our export volumes from our UK base and becoming one of the leading battery electric and hydrogen bus manufacturers in Europe. UKEF’s support will help us firmly on our future global growth path.
Flogas will confirm a £50 million investment to upgrade the Avonmouth terminal for liquefied petroleum gas storage and future-proofing the site to handle renewable biogas and hydrogen, opening up a potential global supply of renewable fuels to the UK.
Evan Trevor, managing director of Flogas Britain Ltd, said:
A £100 million investment in the Avonmouth LNG terminal and pipeline near Bristol will connect the UK to an unrivaled supply of off-grid gas, providing security and affordability for off-grid homes and businesses across the UK.
With plans to handle fully renewable green gas alternatives and enable emerging fuels to be more easily imported and exported, it will also play a vital role in building a low carbon future and help the government meet its net zero emissions target.
GTIE comes on the second day of International Trade Week, a week-long series of business and sector-led activities, events and workshops available to businesses of all sizes and sectors across the UK, all free of charge. The week is aimed at businesses looking to increase their global potential, giving them the advice and confidence they need to take the next steps to grow their business and reach new international markets.
The expo will showcase 24 businesses, from North East powerhouse Rolls Royce to Proto, the North East England hub for innovation which is opening Europe’s first digital manufacturing facility to help organizations transition to net zero using new technologies.
The Green Trade and Investment Expo will be sponsored by Principal Partners bp and SSE, and Official Partners Amazon, Barclays and Atkins, who are critical stakeholders in the UK’s transition to secure, clean and affordable energy.
Rolls-Royce SMR CEO Tom Samson said:
For the first time in 20 years, the UK has a domestic nuclear energy technology supplier and the GTIE presents a fantastic opportunity for Rolls-Royce SMR to demonstrate this industry leading decarbonisation solution. Rolls-Royce SMR has ambitions to build factories and strengthen the UK nuclear supply chain to deliver significant and sustainable diversification and energy security benefits.
We welcome the government’s leadership on net zero and its support for delivering 24GW of nuclear capacity by 2050.
Alex Cook, Innovation Manager at Proto, said:
We were delighted to be able to work with Invest North East England and local tech businesses MAADigital, FuzzyLogic and AIS Survivex to create a strong submission for the Expo and look forward to showcasing our selection of immersive demonstrators.
The North East is home to an exciting cluster of immersive tech companies and our exhibition will allow investors to experience first-hand how these technologies can have a real impact in the energy sector by streamlining processes, reducing emissions and allowing companies to de-risk. Training exercises by training staff in a virtual environment.
Background
[ad_2]
Source link
