John Swinney announces £2m fund for 'essential' carbon capture Acorn project in North Sea

John Swinney has announced £2m in funding for an “essential” carbon capture project in the north east of Scotland.

The First Minister confirmed the cash during a visit to the Acorn project in St Fergus in Aberdeenshire.

The project plans to capture CO2 emissions and transport them through a pipeline to the North Sea where they will be stored.

Swinney announces £2m fund for 'essential' carbon capture project.

The First Minister said project Acorn project will be 'essential' in securing the future of sites such as Grangemouth.https://t.co/ZMQoRNzPO7 pic.twitter.com/8GX8IblFXr
— STV News (@STVNews) July 22, 2024

The previous UK Government had also committed to backing the site.

A study in May by the University of Strathclyde found that carbon capture and storage could create thousands of jobs in Scotland and provide an economic boost worth hundreds of millions of pounds.

John Swinney said he was 'delighted' to announce the funding. — John Swinney said he was ‘delighted’ to announce the funding. STV News

Swinney said carbon capture will play a “huge role” in Scotland’s move to net zero emissions.

The First Minister said the Scottish Government is “wholly committed” to the project.

He added: “The Acorn project will be essential in securing the future of key industrial sites like Grangemouth and Mossmorran.

“A national gas pipeline is a critical component of the project and I am delighted that the Scottish Government is providing funding to accelerate this innovative work.

“We are determined to support projects like this to support the development of Scotland’s carbon capture and storage sector and the fair and just transition of the oil and gas sector.

“This announcement today demonstrates our unwavering support for carbon capture and storage and I am confident that the UK Government will work constructively with us to ensure the Acorn Project is awarded track two status.

“Enabling this innovative work to progress will help unlock so many opportunities not just for Scotland but for the UK as a whole.”

Acorn managing director Nic Braley welcomed the funding announcement.

He said: “Working together, Acorn and National Gas can provide a CO2 transport and storage solution to the Scottish Cluster, a diverse range of emitters from across Scotland and the rest of the UK, are all committed to timely and cost-effective decarbonisation.

“The Scottish Cluster, with Acorn at its core, and the UK and Scottish governments can collectively make a major contribution to UK net zero commitments, supporting ambitions for clean energy, green property and value for money.”