Net Zero Innovation Portfolio and the Advanced Nuclear Fund: progress report 2021 to 2022
This report sets out progress made by the Net Zero Innovation Portfolio (NZIP) and the Advanced Nuclear Fund (ANF) from 2021 to 2022.
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Innovation is a fundamental part of the transition to net zero. Development of key technologies needs to be accelerated with faster commercialisation, scale-up and consumer uptake to support delivery of the UK’s net zero target.
Providing a combined total of £1.3 billion the Net Zero Innovation Portfolio (NZIP) and the Advanced Nuclear Fund (ANF) are UK government funds delivered by the Department for Energy Security and Net Zero.
They are investing in 10 priority themes, providing funding to develop green technologies and processes of the future. NZIP is key to supporting the UK’s pathway to a low carbon future and contributing to the achievement of the UK’s commitment to net zero emissions by 2050.
Outline of NZIP objectives
1. Stimulate private sector investment in the most promising mid- to late-stage low-carbon energy innovations facilitating commercialisation.
2. Maximise international coordination and collaboration opportunities to achieve a timely and effective low carbon transition.
3. Maintain the UK’s international leadership in areas that will benefit the UK clean energy sector.
4. Ensure UK net zero policies are based on the most up-to-date and robust technical evidence.
5. Drive international action on climate change by promoting research and innovation efforts to drive down costs globally and build new markets.