Additional funding of £120 million was announced by UK Chancellor of the Exchequer Jeremy Hunt for the Green Industries Growth Accelerator to drive carbon capture and storage (CCS) and offshore windfarms, and support the UK’s manufacturing sector. Spending of £160 million was also confirmed for two nuclear sites in Anglesey, North Wales, and Oldbury, Gloucestershire.
Neil Poxon, CEO at Oxford Flow, said: «The Chancellor’s recent announcement, earmarking additional funds for its Green Industries Growth Accelerator to support enhancing the UK’s manufacturing sector, marks a positive step in the right direction in our journey towards meeting net-zero ambitions. This funding is not just a financial boost – it’s a signal to the industry and the market that the shift towards cleaner energy practices is not just necessary, but inevitable. It underscores the government’s recognition of advanced manufacturing as a cornerstone in building a resilient economy poised for the challenges of tomorrow. This isn’t just about meeting targets; it’s about setting an example that substantial change is possible with the right investments and innovation, and the UK should be at the centre of that global shift.»
Oxford Flow designs and manufactures innovative pressure control equipment for oil and gas, industrials, hydrogen, biogas and more. Engineered to be more compact and lighter than conventional technology, Oxford Flow’s control valves and regulators eliminate the most common points of failure and ultimately eliminate emissions and leaks.