The Department of Energy and Climate Change (DECC) will make £2.5 million in funding available to encourage the development of Carbon Capture and Storage (CCS) in the North Sea.
The funding will be delivered by the Energy Technologies Institute (ETI) and will come from DECC’s Innovation Fund.
Companies can apply for funding by the end of December with a deadline of all proposals submitted by 5th February 2015. Successful companies could begin work on developing their CCS systems by spring 2015.
Luke Warren, Chief Executive of Carbon Capture & Storage Association (CCSA) said: “The UK is one of the best places in the world to develop CCS. Its unique geology – which could provide over 100 years of storage capacity – is optimally located to be used by the UK’s major CO2 emitters.”