The Peak Cluster project will link cement and lime plants in the Peak District to a carbon storage site beneath the Irish Sea through a new pipeline.

Detailed design engineering will be backed with £28.6m from the Government’s new National Wealth Fund alongside £31m from private investors including Holcim, Tarmac, Breedon, SigmaRoc and Summit Energy Evolution.

Peak Cluster is expected to support over 2,000 existing jobs in the region and create 1,200 construction roles to build the pipeline and capture plants.

The project is a joint venture with the Morecambe Net Zero site, being developed by Spirit Energy, which will store the captured carbon offshore using repurposed gas fields.

The funding deal is the first carbon capture investment from the National Wealth Fund, which will commit at least £5.8bn by 2030 into CCS, hydrogen, ports, gigafactories and green steel to accelerate the UK’s industrial decarbonisation.

Peak Cluster CEO John Egan said: “We will work closely with Government to ensure Peak Cluster and MNZ can help secure the future of this foundation industry, creating a backbone of industrial opportunity that benefits communities across the Midlands and North West.”

The Mineral Products Association said 40% of UK cement and lime comes from the Peak District. Cement accounts for 7.5% of global man-made CO₂ emissions, with few viable decarbonisation options outside of CCS.

Spirit Energy CEO Neil McCulloch added: “Through our partnership with Peak Cluster, the MNZ carbon store will decarbonise 40% of the UK’s cement production and help create new, highly-skilled jobs.”

A development consent application for the CCS pipeline is expected to be submitted between July and September 2026.