Investing in foundation industries help to back innovators

Foundation industries, such as the cement, glass, ceramics, paper, metals, and bulk chemical sectors, are vital for UK manufacturing. They are worth £52 billion to the economy.

However, they are responsible for 10% of UK CO2 emissions and consume lots of raw materials and energy.
Manufacturing equipment has a long life, and it is difficult to introduce efficiencies that improve resource use and maintain competitiveness on the global stage.

The government’s Industrial Strategy Challenge Fund Transforming Foundation Industries Challenge is supporting innovative business projects looking at ways of reducing energy and resource use.

Innovate UK, part of UK Research and Innovation, is seeking partner investors willing to invest in businesses that carry out projects with support from the fund.

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