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Government invests £20m in the clean growth fund

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Published on: 21 May 2020

Published by LNB News

LNB News 21/05/2020

Document Information

Issue Date: 21 May 2020

Published Date: 21 May 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Department for Business, Energy & Industrial Strategy (BEIS) has announced £20m worth of funding to ‘support a new clean technology early stage investment fund’ titled the clean growth fund. The clean growth fund aims to ‘support and speed up the deployment of innovative clean technologies that reduce greenhouse gas emissions’. The £20m fund from BEIS forms part of the wider £505m Energy Innovation Programme, which aims to speed up the commercialisation of clean energy technologies through the 2020s–2030s. An additional £20m has been invested by a private sector investor, bringing the total to £40m. The clean growth fund aims to reach £100m and is now seeking funding from other investors.

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