Particle.news
Download on the App Store
3 ARTICLES
·
last wk.

National Wealth Fund Commits £28.6m to Peak Cluster Carbon Capture

This first carbon capture outlay activates planning for the Irish Sea pipeline under scrutiny over technology readiness, consumer cost projections, long-term feasibility.

Image

Overview

  • The National Wealth Fund announced its maiden carbon capture investment of £28.6m in the Peak Cluster project, complementing £31m in private backing from Sumitomo, Tarmac and Breedon.
  • Peak Cluster aims to capture over three million tonnes of CO₂ annually from cement and lime plants in the Peak District, transporting emissions to storage sites under the Irish Sea.
  • Project partners are advancing development consent applications and pipeline planning ahead of a mid-2026 target, building on earlier Teesside CCUS schemes.
  • The scheme promises around 1,500 new jobs and support for 2,000 existing roles across Derbyshire, Staffordshire and the North West.
  • MPs and the Public Accounts Committee have raised concerns over the unproven nature of carbon capture technology and potential impacts on consumer bills.