Scotland launched £18 million Circular Economy Investment Fund

Business Stories

The Scottish Government announced on Tuesday the establishment of a new £18 million Circular Economy Investment Fund, to help future-proof the Scottish energy sector.

Funding opportunities will be available for small energy businesses and their largest supply chains, which will support the delivery of circular economy growth.

The fund will be managed by Zero Waste Scotland and will be backed by the European Regional Development Fund (ERDF).

Each project will be allocated from £50,000 to £1 million for capital expenditure.

The fund builds on actions that are outlines in the Scottish Government’s circular economy strategy, “Making Things Last”, which aims to identify new skills needs for repurposing energy infrastructure and co-ordinate work to develop the skills required for a successful circular economy.

The Circular Economy Investment Fund will accept applications from energy projects that will demonstrate innovative and cost-competitive circular approaches to infrastructure design, operation and decommissioning.

According to the official press release, these will include, but are not limited to:

  • Wind turbine blade reprocessing solutions
  • Repurposing of decommissioned oil and gas platform steel in the construction sector
  • Reconditioning, re-certifying and re-using highly-standardised components from end of life oil and gas platforms into new installations
  • End-of-life reprocessing & repurposing solutions for heating systems, such as gas boilers
  • Digital monitoring, maintenance and predictive remanufacturing of energy asset components.

Zero Waste Scotland will also offer individual expert support to businesses that consider more circular business models through its Circular Economy Business Support Service.

Iain Gulland, Chief Executive, Zero Waste Scotland said: “Scotland’s energy sector is an important contributor to Scotland’s economic development, and has long been at the forefront of innovation”.

He added: “This is an opportunity to gain financial support for transformative projects that will help bolster a more resilient and sustainable industry in the future, as well as contributing to Scotland’s growing circular economy”.

Last week, Environment Secretary Roseanna Cunningham announced a £8.4 million investment support for projects to increase recycling rates, reduction of emissions, and encouragement of re-use.

To learn more about the Circular Economy Investment Fund click here

Read the full “Make things last: a Circular Economy Strategy for Scotland” here

If you want to know more about Circular Economy and Zero Waste Scotland’s initiatives, listen to our recent Transitioning to a Circular Economy webinar featuring Louise McGregor, Head of Circular Economy at Zero Waste Scotland as well as the CIWM, IBM and the WBCSD. To access the webinar for free, click here


Read full article on Climate Action News




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