Teesside Collective is a ready-made, cost-effective opportunity for Britain to start removing damaging carbon dioxide from its vital process and chemical industries.
With one of the highest concentrations of industry in the country, and located close to North Sea carbon storage sites, a Carbon Capture and Storage network in Teesside will be as significant as offshore wind and new nuclear power in accelerating the UK’s journey towards a competitive, low carbon economy.
Experience from other projects and our engineering studies underscore that the project is technically feasible. Our work on financing shows it can be done cost-effectively. And, if we can get it under way now, it will vastly increase the chances of the UK meeting its 2050 emission reduction goals.
We are now looking to the UK Government to work with us to bring to reality a Teesside Collective pilot, to place Teesside at the forefront of a new, clean industrial future for the UK.
You can view our brochure on Teesside Collective’s proposition for Government here, focused around the significant opportunity for industrial growth while addressing cost-competitive emission reduction.
How can we kick-start Industrial CCS in the UK?
- Teesside proposes to start CCS in the UK cost-effectively, with a pilot project capturing and storing 11m tCO2 over 15 years. Once the network is proven, this would expand to capture and store 10m tCO2 per year as power stations and more industrial companies join the network.
- The pilot would cost £110m to construct and £29m per year to operate, including a transport and storage fee
- The pilot could repay up to £31 million per year to the Government in carbon savings
- Teesside will establish a CCS Development Company to bring the project to fruition
- The pilot could be capturing and storing CO2 in six years.
What are we asking from the Government?
- Allocate £15m in FEED funding for the pilot
- Support investment in a suitable store for Teesside
This is a cost-effective, no-regrets approach that is attractive for Government and industry alike. The time is now to make Industrial CCS a reality.