LONDON -Britain has launched a 220 million pound ($300 million)investment scheme to help some of the most polluting industries cut fossil fuel use and reduce emissions, it said on Wednesday.
The move comes as industrial energy users are grappling with record high wholesale electricity and gas prices which have forced some companies to curtail production.
Steel companies, food and drink manufacturers, paper producers and others will be able to apply for grants of up to 30 million pounds to invest in low-carbon technology, such as more efficient boilers and heat pumps or technology to capture and store carbon emissions.
“With innovation and investment across the economy, we can power the UK’s green industrial revolution. But we know for the most polluting and energy-intensive businesses, this will mean a big shift in the way they operate,” Prime minister Boris Johnson said in a statement.
Britain, which has a target to reach net zero emissions by 2050, has reduced emissions from the power sector significantly but is finding it harder to cut industrial emissions.
($1 = 0.7332 pounds)