THREE Warrington companies are set to receive over £3.1 million from the Government’s Industrial Energy Transformation Fund (IETF), supporting industry to cut their emissions and boost economic growth.
As part of the latest £24.3million share of the IETF to 26 businesses across the UK, £2,622,157 has been allocated to Ingevity UK Ltd, £390,542 to European Metal Recycling Ltd and £100,084 to Rock Chemicals Ltd in Warrington. The funding will help these companies to become more energy efficient and clean up their manufacturing processes by using low-carbon technologies. Over £60 million has already been allocated from the IETF, which totals £289million.
Energy-intensive industries are responsible for 11 per cent of the UK’s total emissions and represent over 70 per cent of UK industrial emissions. The UK has seen its emissions cut by 48 per cent in the three decades from 1990 to 2021, the fastest decarbonisation rate in the G7. However, in order to meet the Government’s net zero target, it is estimated that industry will need to cut their emissions by two-thirds by 2035.
Welcoming the funding, Warrington South MP Andy Carter commented:“Our town has so many world-leading businesses working to cut their emissions and I’ve seen for myself the progress they’re making. It presents huge opportunities for British businesses and it’s right that the Government supports them on that journey. That’s why I’m delighted to see three brilliant Warrington-based companies receiving additional funding to help reduce their emissions.
“The purpose of the Industrial Energy Transformation Fund is to ensure that we can progress towards our 2050 net zero target while continuing to support UK industry and grow the economy. This fund will help energy intensive businesses to decarbonise whilst focussing on their priorities, like continuing to invest in the UK and recruiting more staff.”
The Minister for Energy Efficiency, Lord Callanan said:“We are leading the world in reaching net zero, having cut emissions by 48 per cent – but to keep up this progress and achieve our green goals, we’ve got to transform our industrial sectors, as some of the industries most critical to our economy are also those with the highest emissions.
“Today, we’re backing them with government funding to use the latest technologies to cut their emissions and their reliance on fossil fuels – helping to future-proof these industries as we grow our green economy.
“This will not only cut their energy costs but also boost their competitiveness on the world stage, helping them thrive and protecting the thousands of jobs they offer across the country.”
