Further £5 million funding for Global Underwater Hub | ONE

In his budget statement on Wednesday 3rd March, Chancellor Rishi Sunak, confirmed an additional £5m funding for Global Underwater Hub.

In response to the statement Trevor Garlick, Chair of Opportunity North East (ONE) Energy, commented:

“The Chancellor's announcement of a further £5 million funding for the Global Underwater Hub is very welcome news for the North East of Scotland.

“The UK underwater sector is set to play a crucial role in delivering net-zero targets and is one of the UK industry’s biggest opportunities for revenue generation across the next 15 years.

“It brings huge export opportunities for the supply chain, creates new jobs and anchors skills in the region, and will support a range of sectors, including oil and gas, offshore wind, marine, renewables, aquaculture, and defence.

“This, together with the announcement of financial support for the Energy Transition Zone, will help realise the ambition to transform north east Scotland into a globally integrated energy cluster and play a key role in the green economic recovery.”

You can read more about the Global Underwater Hub here