Investors pledge nearly £ 10 billion at UK Global Investment Summit
- The Prime Minister will announce today [Tuesday] that deals worth £ 9.7 billion were closed at the Global Investment Summit
- 18 new trade and investment deals will support green growth and create around 30,000 jobs in the UK
- The government will also today launch a new Investment Atlas featuring strategic investment opportunities that will help make the UK better.
At least 30,000 new jobs will be created in the UK thanks to £ 9.7 billion in new foreign investment to be announced by the Prime Minister at the World Investment Summit today (Tuesday 19 October 2021) .
The package of 18 agreements will support growth in vital sectors such as wind and hydrogen energy, sustainable homes and carbon capture and storage, thus cementing the UK’s climate leadership for COP26 and beyond.
It comes as the Department for International Trade is launching a new Investment Atlas, an online platform designed to help international investors identify and execute high priority investment opportunities in England, Scotland, the Country of Wales and Northern Ireland.
The Atlas will highlight 53 strategic investment opportunities across the UK, each with a strong element of sustainability aligned with the key themes set out in the Prime Minister’s 10-point plan. New projects showcased include offshore wind substructures in Scotland and manufacturing ports at Teesside and Humber, delivery of sustainable food systems to Telford and net zero transport to Coventry.
The Prime Minister will open the Summit today in London alongside International Trade Secretary Anne-Marie Trevelyan. He will also participate in a round table with Bill Gates on the global energy transition and the role of the private sector in the fight against climate change.
Prime Minister Boris Johnson said:
The world’s biggest investors have seen the UK’s enormous potential for growth and innovation in industries of the future. The fantastic £ 9.7 billion in new investment we secured today will fuel our economic recovery, create thousands of jobs and help level up across the country.
This is just the beginning. We will see new partnerships for green growth forge at today’s World Investment Summit, as we look to COP26 and beyond.
International Trade Secretary Anne-Marie Trevelyan said:
The UK is the best investment destination in the world and our Investment Atlas will help increase investment in green industries across the UK and make it easier for businesses to make decisions about where and what to invest in.
These investment deals announced today will create jobs, stimulate the economy, spread prosperity and raise the standard of the country as we build back better and more environmentally.
As part of the new investment initiated today, electric utility company Iberdrola has confirmed its intention to invest £ 6 billion in the East Anglia hub through Scottish Power, subject to obtaining planning consent and a contract for the difference. It will be Iberdrola’s largest offshore wind development in the world and would provide enough green energy to power 2.7 million UK homes, while creating 7,000 jobs.
Iberdrola President Ignacio Galán said:
We share the ambition of the Prime Minister’s ten-point plan and, in line with the stable and predictable UK framework, we are committed to playing our part. Our £ 6bn investment in the East Anglia hub would be an important step towards achieving enough offshore wind power to power every UK home by 2030.
Global logistics company Prologis intends to invest £ 1.5 billion over the next three years to develop zero-carbon net warehouses in London, the South East and the Midlands, supporting around 14,000 new jobs.
Hamid Moghadam, CEO of Prologis Inc, said:
We believe that private sector innovation has played and will continue to play a major role in overcoming the environmental challenges facing the world today. Prologis is proud to contribute to the UK’s economic growth by continuing to invest in environmentally friendly logistics parks that help strengthen local economies and support sustainable local employment.
The £ 9.7bn announced today comes on top of £ 5.8bn already committed to sustainable projects since the Prime Minister launched his ten-point plan in November 2020.
The summit comes two weeks before COP26 and will bring together global business leaders to examine the role of the private sector in achieving global net zero and green growth, as well as to highlight the significant investment opportunities entering the UK. United in sustainable industries. from the future.
The government will also launch the Net Zero Strategy this week, setting out how the UK will meet its commitment to achieve net zero emissions by 2050. It will include measures to create a clean and secure energy sector in the UK. Uni, by supporting businesses and consumers to switch to clean energy, create thousands of well-paying jobs and unlock investment.
The full list of new investments announced today is:
- Iberdrola intends to invest through ScottishPower £ 6 billion in the East Anglia Hub offshore wind farms, creating 7,000 jobs.
- Prologis intends to invest £ 1.5bn in the UK over the next three years, developing net zero carbon warehouses that will support around 14,000 new jobs in London, the south east and across the Midlands.
- Viridor, owned by US company KKR, plans to invest up to £ 1 billion in cutting-edge decarbonization technology at five of its UK sites, creating 1,180 jobs. Viridor aims to become the first net zero waste company by 2030, and this new investment will also reduce fossil emissions at their UK sites by up to 90%.
- Eren Paper, owned by Turkish conglomerate Eren Holding, is investing £ 500million to acquire a factory in Shotton, north Wales, and convert it to produce cardboard made from waste paper. The plant will be powered by biomass and the investment is expected to create around 300 new jobs.
- Peer-to-peer lending firm Zopa has raised £ 220million, led by Softbank Vision Fund 2, to grow its responsible and sustainable banking and lending services in the UK.
- Budweiser Brewing Group, the UK arm of global brewer AB InBev, and Protium, the UK’s leading green hydrogen energy services company, have teamed up to deploy zero-emission green hydrogen at the Magor brewery in the south of Wales, one of the largest breweries in Great Britain. They will invest more than £ 100million in a hydrogen generation system that will power the brewery’s production as well as its main logistics assets, including heavy goods vehicles and forklifts.
- Getir plans to invest £ 100million to rapidly expand its sustainable and super-fast grocery delivery service across the UK, creating 7,000 permanent jobs in 2022. The company operates a fleet of delivery vehicles 100% electric. Malaysian conglomerate Petra Group will invest £ 30million in establishing Petra Modular in the UK for the production of sustainable modular homes, creating 225 jobs. They will also invest £ 30 million in establishing the Petra Group’s green rubber business in the UK, which will see the development of a production unit creating 110 jobs.
- HiPoint AG will invest £ 50million to create five new facilities for the recovery and treatment of horse stall waste into reusable bedding, fertilizers and biofuels, creating 90 jobs across the UK.
- Ultimate Battery Company will invest £ 28million to set up a UK production facility for lightweight and environmentally friendly batteries, creating 300 jobs.
- Global Marine will invest £ 10million in the construction of hybrid engine crew transfer vessels and surface effect vessels to service offshore wind infrastructure, creating 10 jobs in the east of England.
- HyPoint will invest £ 6.6million in establishing a head office in the south-east for the development of its next-generation hydrogen fuel cell system, creating 10 jobs.
- Crowdz will invest £ 5million to develop and launch an environmental, social and governance platform based on blockchain technology, creating 7 jobs in London.
- Treedom will establish a UK office in London for its online tree planting platform, creating 10 jobs.
- Tes Amm is creating 15 new jobs in Scotland, doubling its e-waste recycling solutions for lithium-ion batteries in electric vehicles, consumer electronics, and computer and mobile technologies.
- Jacobs will create more than 150 jobs as their high-tech Birchwood lab in Warrington grows, where they perform research and development, testing and cybersecurity operations that support the UK’s critical national infrastructure .
- Huaneng will invest in the 50 MW battery storage project at StoneHill. This entirely new project is a further milestone for energy storage in the UK and will employ local partners in construction and operation.
- Sumitomo Corporation launches Presidio Ventures Europe, a venture capital arm of Sumitomo focused on energy and mobility.