- The project involves a £59.6 million investment to develop a CO2 transport pipeline.
- The pipeline will capture 3 million tonnes of CO2 annually from UK cement and lime plants.
- Final Investment Decision is expected by 2028, following FEED and regulatory approvals.
- The project aims to secure 13,000 jobs and contribute to the UK's decarbonization goals.
Project Investment and Goals
Sumitomo Corporation, through its UK subsidiary Summit Energy Evolution Limited, is investing £59.6 million in a CO2 transport pipeline as part of the Peak Cluster Carbon Capture project. This initiative aims to capture CO2 from four plants in the Peak District, which produce 40% of the UK's cement and lime. The project supports the decarbonization of these hard-to-abate industries, crucial for sectors like construction and manufacturing.
Collaboration and Development
Since 2022, Progressive Energy has collaborated with cement manufacturers Tarmac, Breedon, SigmaRoc, and Holcim on the project. SEEL, through its joint venture Progressive Energy Peak Limited, will invest in Peak Cluster Limited, the project company for the pipeline. The UK government's National Wealth Fund is also investing in the project. The investment will advance the project to a Final Investment Decision by 2028, following the completion of FEED and regulatory processes.
Decarbonization Impact
The UK aims to capture 50 million tons of CO2 annually by 2035, and the Peak Cluster project will contribute by transporting 3 million tonnes of CO2 each year. The CO2 will be transported via a new onshore pipeline to the coast, where it will be stored under the seabed of the East Irish Sea as part of the Morecambe Net Zero project by Spirit Energy. This network will help decarbonize the cement and lime industries and secure 13,000 jobs.
Strategic Importance
Sumitomo Corporation is leveraging its experience in CO2 capture, transport, and storage to advance this project. The company aims to expand its expertise in CO2 transport and storage to the Americas and Asia-Pacific regions, addressing commercial and technical challenges in this emerging sector.
