UK firms set for help to “build back greener” with £134m government boost

The UK government has today unveiled a new multi-million pound investment to support businesses across the country to pursue clean growth projects.

Over 1,000 projects will today (November 4) receive £134m of government investment to support the development of their clean growth initiatives.

The Sustainable Innovation Fund, delivered through Innovate UK, is a main part of the £1.25bn investment package announced by Chancellor Rishi Sunak in April to help businesses survive and innovate during the COVID-19 pandemic.

Robots that patrol UK roads to detect and repair cracks and potholes, AI that will help to reduce beer waste and the conversion of seaweed into compostable packaging are examples of the projects that will benefit from the new funding.

Business Secretary Alok Sharma commented: “The UK’s response to coronavirus has demonstrated the very best of British ingenuity, and it is this resourcefulness that will help us navigate our way through this pandemic.

“Today’s investment will ensure that our innovators and risk-takers can continue to scale up their ideas, helping the UK to build back better and ensure we meet our clear commitments on tackling climate change.”

Executive chair of Innovate UK, Dr Ian Campbell, added: “Yet again we see the exciting range of business innovation taking place across the United Kingdom, despite these difficult times.

“Every initiative we’ve supported here represents an important step forward in sustainable economic development, but also one step nearer dreams becoming reality for ambitious hard-working company owners and their staff.”

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