Global Underwater Hub funding boost | ONE

In response to the government’s Spending Review delivered by the Chancellor, Trevor Garlick, Chair of Opportunity North East (ONE) Energy and the Global Underwater Hub, commented:

“For decades the North Sea oil and gas industry has been recognised as a pioneer in underwater technology, positioning the UK as the leader in the subsea engineering sector with 40 per cent of market share.

“This latest funding boost will accelerate growth and innovation of UK businesses by building on our existing strengths, accelerating the energy transition, and creating a step change in the development of technology and services for this prosperous sector.

“In addition, it brings huge export opportunities for the supply chain, creates new jobs and anchors skills in the region, as well as supporting a range of sectors including oil and gas, offshore wind, marine, renewables, aquaculture, and defence.

“This opportunity has been realised through the concerted efforts of Opportunity North East (ONE), Subsea UK, Scottish Enterprise and the Oil & Gas Authority, who have worked together to develop an exciting vision for the Global Underwater Hub that will connect and grow the UK’s underwater sector at home and overseas.

“Having already welcomed the news of the Scottish Government’s Energy Transition Fund (ETF) earlier this year, which will also help fund the Hub, we now look forward to accelerating this project. The energy supply chain, Subsea UK and other trade associations, governments, academia and regional development agencies will work to create a truly global and collaborative facility, that will drive innovation in new underwater solutions, and support the shift towards net zero.”

You can read more about the Global Underwater Hub here