Headlines
UK to invest 200 million pounds in Acorn carbon capture project in Scotland
Published by Global Banking & Finance Review®
Posted on June 12, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 12, 2025
2 min readLast updated: January 23, 2026
The UK is investing £200 million in the Acorn carbon capture project in Scotland, supporting its net zero emissions target by 2050.
By Susanna Twidale
LONDON (Reuters) -Britain will invest 200 million pounds ($272 million) in the Acorn carbon capture and storage (CCS) project in Scotland, the government said on Thursday, fleshing out details of funding for the technology announced in a spending review on Wednesday.
Britain has a climate target to reach net zero emissions by 2050 and has said CCS will be needed to curb emissions from energy-intensive industrial sectors.
Acorn, being developed by Storegga, Shell UK, Harbour Energy and North Sea Midstream Partners, in St Fergus, Scotland, will capture carbon dioxide emissions from industry and store them under the North Sea.
"This vital support will enable the critical work needed to reach Final Investment Decision (FID) and marks a major step forward — not only for Acorn, but for the development of Scotland’s CCS infrastructure and the growth of a UK-wide carbon capture and storage industry," Tim Stedman, CEO of Storegga, said in an emailed statement.
The government said it would also back the Viking CCS project in the Humber region, in the north of England, without specifying how much it would receive.
"This (funding) will support industrial renewal in Scotland and the Humber with thousands of highly-skilled jobs at good wages to build Britain’s clean energy future," Britain’s energy minister, Ed Miliband, said in a release from Britain's Department for Energy Security and Net Zero.
Once operational, the two projects could capture up to 18 million tonnes of carbon dioxide a year, the government said.
The funding is part of 9.4 billion pounds the government pledged to carbon capture technology over the spending review period and the 21.7 billion pounds it last year said would be spent on CCS over 25 years.
($1 = 0.7352 pounds)
(Reporting by Susanna Twidale; Editing by Alex Richardson)
The UK government will invest £200 million ($272 million) in the Acorn carbon capture and storage project.
The Acorn project aims to capture carbon dioxide emissions from industry and store them under the North Sea, contributing to the UK's climate target of net zero emissions by 2050.
The Acorn project is being developed by Storegga, Shell UK, Harbour Energy, and North Sea Midstream Partners.
Once operational, the Acorn and Viking projects could capture up to 18 million tonnes of carbon dioxide each year.
The UK government has pledged a total of £9.4 billion for carbon capture technology over the spending review period.
Explore more articles in the Headlines category
