Carbon Emissions: Small Businesses
(asked on 27th January 2025) - View Source
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, how much and what proportion of Net Zero Innovation Portfolio funding has been allocated to small businesses.
Answered by
Kerry McCarthy
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The Government has provided innovation funding through the £1.3 billion Net Zero Innovation Portfolio (NZIP) and Advanced Nuclear Fund (ANF) to accelerate the commercialisation of innovative, low-carbon technologies, systems and business models in power, buildings and industry.
The NZIP and ANF have supported over 600 projects, which has in turn supported 5,500 jobs and leveraged a further £750 million of private sector match funding in the UK.
The portfolio funds a range of programmes from small scale grants with SMEs to large-scale programmes, such as the Low-Cost Nuclear Programme with Rolls Royce SMR Ltd. To date, £1.1 billion has been allocated from the portfolio with around half allocated to small businesses in the UK.
A final Progress Report on the performance of the NZIP is expected to be published later this year.