- Sumitomo's subsidiary SEEL invests in CO2 transport pipeline for Peak Cluster project.
- The project targets capturing 3 million tonnes of CO2 annually from UK cement and lime plants.
- Total investment of £59.6 million aims for a Final Investment Decision by 2028.
- The pipeline will connect to Morecambe Net Zero for permanent CO2 storage under the East Irish Sea.
Investment Overview
Sumitomo Corporation, through its UK subsidiary Summit Energy Evolution Limited (SEEL), is investing in a CO2 transport pipeline as part of the Peak Cluster Carbon Capture project. This initiative aims to decarbonize the UK cement and lime industry, which accounts for 40% of the country's production in these sectors.
Project Details
The project, originated by Progressive Energy in 2022, involves collaboration with cement manufacturers Tarmac, Breedon, SigmaRoc, and Holcim. SEEL, via its joint venture Progressive Energy Peak Limited (PEPL), will invest in Peak Cluster Limited (PCL), the project company for the pipeline development. The UK National Wealth Fund is also investing in PCL.
Financial and Timeline Aspects
The total planned investment of £59.6 million will advance the project to a Final Investment Decision by 2028. This includes completing Front-End Engineering and Design (FEED) and other studies necessary for regulatory approval.
Decarbonization Impact
The pipeline will transport 3 million tonnes of CO2 annually from four plants in the Peak District to the Morecambe Net Zero project for permanent storage under the East Irish Sea. This effort supports the UK government's goal to capture 50 million tons of CO2 annually by 2035 and will help secure 13,000 jobs.
Strategic Importance
Cement and lime are challenging to decarbonize due to high process emissions. Carbon capture and storage (CCS) is essential for reducing emissions in these sectors. The project is part of a broader CCS network, contributing to the UK's leadership in global CCS efforts.
