Developing cooling technologies in the UK could create 10,000 jobs by 2025, a new report suggests.
The Emerging Cold Economy report by The Carbon Trust claims the UK could become a leader in the “cold economy” because it already has in place a number of low carbon cold technologies and “world-class” capabilities in cryogenics, engineering and manufacturing.
Cooling products use 14% of UK electricity and the combined cost of electric and transport cooling is more than £5 billion per year.
Cold technologies support many parts of modern day life, from air conditioning and cooling medicine to the ‘cold chain’ of refrigerated warehouses.
A growing hub of research already taking place in the Midlands by universities such as Birmingham University and other research organisations puts the UK in a good position said the report.
The report also suggested Government and industry should make a “strategic decision” to take advantage of these favourable conditions to make the UK a leader in the industry.
David Sanders, Director, Innovation at the Carbon Trust, said: “Turning the Cold Economy from an idea into reality will depend on joined-up thinking and collaboration by industry, academia and government to develop, test and deploy novel solutions.
“With Britain’s rich history of innovation and engineering, we have a real opportunity to lead the way in low carbon cold technologies and drive innovative solutions from the lab to the market.”