Government announces over £500mn investment in green technologies

The government has launched a new £400mn fund develop rapid charging infrastructure points for electric vehicles, alongside £142.9mn investment in green technologies.

On 10 September, the Treasury announced the first £70mn investment – made together with Masdar – into the Charging Infrastructure Fund (CIIF) will go towards the creation of 3,000 new rapid charge points. This will result in the number of such charge points across the UK more than doubling by 2024, reaching 5,000.

Transport Secretary, Grant Shapps, said: “This fund will help drum up further investment in charging infrastructure from the private sector, so charging an electric car becomes as easy as plugging in a smart phone.”

Other investments to be made included £31.5mn for research into technologies to remove greenhouse gases from the atmosphere and £30mn for a programme to drive research into the re-use and recycling of materials in innovative ways. It also has pledged £22mn to research new kinds of air pollutants to minimise their effects on public health, £47mn for cleaner food systems and £12.43mninto the sustainable management of marine resources.

HM Treasury