The British economy has gained £1.4 billion from the Government’s direct investment in fusion energy over the past decade and an average of 4,000 jobs each year.

The findings were revealed in an economic study conducted by London Economics and released today by the Department for Business, Energy and Industry Strategy.

London Economics looked at the financial and economic impacts of the UK’s public investments in the UK Atomic Energy Authority’s (UKAEA’s) fusion research from 2009-2019 and found:

• Allocated funding of £346.7 million resulted in a direct gain of £1.4 billion
• For every £1 invested in UKAEA, approximately £4 is generated in return
• Approximately 36,900 direct and indirect job years were created through direct employment and related activities – equivalent to the creation of 4,000 jobs on average each year 
• The UK economy gained up to £363.7 million from contracts directly won by UK organisations for the international fusion megaproject, ITER
• UKAEA’s contribution to understanding of fusion energy was identified to be significant, with UKAEA having increased the volume, quality and reputation of UK fusion and related research. Without UKAEA, the field of fusion research in the UK would likely be heavily fragmented with far less cooperation
• Advances to “fusion-adjacent” technologies through technology transfer from fusion. These include advancements in robotics, developments of new materials and contributions to computing and artificial intelligence. Future applications are expected in other fields, such as space exploration, mining and healthcare, and transport.
• Indirect benefits in upskilling of the UK workforce through an improvement in skills, knowledge transfer between academia and industries, improved fusion reactor designs and the creation of standards for fusion and contribution to public policy and strategy.

Fusion energy is a form of low-carbon energy whereby the power of the sun is replicated on earth.

At equal mass to traditional energy sources, fusion energy releases nearly four million times more energy than the burning of coal, oil or gas, and four times as much as nuclear fission reactions.

It promises minimal impact to the environment, long-term reliability and weather independence.

In addition to the direct benefits listed in the report, fusion research is expected to deliver numerous additional economic gains, such as market, network and knowledge spillovers, which arise when economic activities in one part of a market have effects elsewhere.

The study provides strong evidence that there are already significant benefits flowing from the UK Government’s investment in fusion.

This points to significant future benefits to the UK economy from further development, demonstration and commercialisation of fusion technology over the coming decades.

Since the report was compiled, the UK Government has announced £220 million of funding for UKAEA’s Spherical Tokamak for Energy Production (‘STEP’) fusion power plant programme.

Professor Ian Chapman, UKAEA CEO, said: “The report highlights much that is positive about UKAEA’s work.

“However, this is just the tip of the iceberg with regards to UKAEA’s capabilities and fusion energy’s projected contribution to our shared economic, ecological and social future.

“Fusion energy research and development needs long-term and large-scale investments.

“There are substantial benefits fusion research and development can deliver not only to the economy, but also to the UK’s net zero target by 2050, which means going beyond the decarbonisation of electricity.

“Our mission is to lead the delivery of sustainable fusion energy and maximise scientific and economic benefit.”

For more information please contact Nick Holloway in UKAEA’s Communications Team at nick.holloway@ukaea.uk.

Farmers, agricultural businesses and waste companies are being urged to check their waste management processes or face enforcement action following a concerning increase in contaminated agricultural plastic waste being intercepted at shipping ports, bound for illegal export.

This year the Environment Agency (EA) has intercepted numerous illegal shipments of contaminated agricultural plastic waste, including silage wrap, which were destined for countries around the world.

In order to legally export contaminated agricultural plastic waste including silage wrap, prior consent is required from both the source country and its destination, alongside all countries through which it travels. These wastes cannot be exported unless the permission of the EA and applicable overseas authorities has been obtained in advance.

Malcolm Lythgo, Head of Waste Regulation at the Environment Agency, said:

We take waste crime very seriously, with teams stationed across the country to disrupt illegal activity. It risks real damage to people and natural environments both at home and abroad. “We know that farmers and the agricultural sector care deeply about the environment and don’t want to see their waste being illegally exported, but unfortunately we are stopping an increasing amount of contaminated agricultural plastic waste, and it’s vital that everyone knows where their waste ends up.

That is why we want to remind farmers and agricultural businesses that they have a legal duty of care to conduct checks on those who collect, store or treat their waste. Anyone involved in its illegal export, from the producer to the exporter, is liable and could face severe penalties.

To ensure that waste is handled properly through to its final recovery or disposal point, farmers and agricultural businesses should always:

• use the EA website to check that the waste firms they are dealing with have the necessary authorisations for carrying, dealing or brokering waste;
• ensure the waste is accurately described on waste transfer documentation;
• ask where the waste is going;
• ask for evidence that the waste company is authorised to store or treat it and what they intend to do with the waste afterwards.

To disrupt the illegal international waste trade, the Environment Agency continues to visit sites and intercept those who deliberately misdescribe waste as suitable for export without the necessary permissions, as well as targeting illegal shipments at ports. The EA also continues to target those who fraudulently claim packaging export recovery notes against non-packaging material including silage wrap.

The Agency is also a member of the newly formed Waste Compliance Taskforce (WACT) and is working with industry to tackle the illegal export of waste.

Steve Morgan, WACT member and Policy & Infrastructure Manager at plastics recycling charity RECOUP, said:

We have created an Export Waste Crime Working Group which is initially focusing on plastic and brings together experts from across industry and government to increase resilience against waste crime and engage with the UK’s environmental regulators to support more effective ways to prevent and tackle the illegal activity blighting our industry.

There are no quick or simple fixes to these challenges, but already we have seen positive steps in terms of engagement and open dialogue with the Environment Agency, and we look forward to carrying this positive activity forward to both tighten the controls around illegal exports and increase confidence in the UK as a quality exporter of material.

Further information about complying with waste duty of care can be found on the Environmental Services Association’s ‘Right Waste Right Place’ website.

Anyone with information regarding the illegal export of waste including agricultural plastics can contact the EA’s Illegal Waste Exports team at intelligence@environment-agency.gov.uk or anonymously via Crimestoppers on 0800 555 111.

For advice on applying for an export notification from the Environment Agency, please contact AskShipments@environment-agency.gov.uk.

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UK Export Finance (UKEF) has signed a cooperation agreement with its counterpart in the United Arab Emirates (UAE), the Etihad Credit Agency (ECI), that will strengthen trade cooperation and boost investment between the UK and UAE.

The agreement provides a general framework for reinsurance underwriting between UKEF and ECI that will enable the two agencies to combine their financial support to help UK and UAE businesses secure export contracts anywhere in the world.

UKEF can now support the export of products from the UAE through its collaboration with ECI where a transaction also involves substantial trading opportunities for UK exporters in third countries.

The UAE was one of the top destinations for exports supported by UKEF last year and total trade between the two countries is now worth £17.8 billion. This agreement will strengthen this trading relationship and create more opportunities for UK businesses to export.

UK Minister for Exports, Graham Stuart, said:

This partnership is a boost to our trading relationship and to businesses in both countries. The UAE is diversifying its exports away from oil and gas into renewable energy and its goals to reduce its dependency on fossil fuels align with our own.

Having overtaken France last year to become the world’s fifth largest exporter, we are determined to help businesses across the UK access the finance they need to take advantage of new opportunities uncovered by UKEF across the world.

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Deputy Chairman of the Board of Directors of Etihad Credit Insurance, said:

The UAE and the UK have always had strong trade relations over the years, and this agreement reflects the keenness of both nations to enhance the competitive advantage of our respective business sector in the international market. We are pleased to enter this partnership with UKEF, with our strong confidence that this will further help ECI propel UAE businesses towards greater heights. This alliance will prove instrumental in advancing the UAE’s national economic non-oil diversification programmes.

Louis Taylor, UKEF’s Chief Executive, said:

There is a strong pipeline of new opportunities in renewable energy and healthcare – among others – where UK and UAE businesses can offer their expertise. This agreement will help us tap into that shared potential and increase the scale of new business that we can support in cooperation with ECI.

Massimo Falcioni, CEO of ECI, said:

The UAE and the UK have always had strong trade relations over the years, and this agreement reflects the keenness of both nations to enhance the competitive advantage of our respective businesses in the international market. We are pleased to enter this partnership with UKEF, with confidence that this will further help ECI propel UAE businesses towards greater heights. This alliance will prove instrumental in advancing the UAE’s national economic non-oil diversification, in line with our country’s vision.

UKEF has a network of export finance experts based in key markets around the world, servicing Posts in their region, including David Moleshead and Michelle Leong who are both based in the UAE.

If you have any leads on projects in your country, you can contact Michelle Leong at michelle.leong@fcdo.gov.uk and David Moleshead at david.moleshead@fcdo.gov.uk.