Industry chiefs said the Scottish Government’s £62 million cash pledge to the energy sector was a nod to the “tremendous scale and potential” of subsea engineering and technology.
Holyrood said it would “consider funding” the planned global underwater hub in Aberdeen, which would help the subsea sector grow with a focus on “diversification and export support”.
The centre is one of the most developed of all the net-zero projects the Scottish Government is prepared to support financially.
UK Government funding support would also be required to get the concept off the ground.
Subsea UK chief executive Neil Gordon, who was instrumental in developing the hub proposals, described the business case as “compelling” and claimed the initiative could ensure the UK remains the “global centre of expertise”.
Mr Gordon said: “Working with government and other stakeholders, we’ve developed a compelling business case for the hub which underlines the significance of the UK’s underwater engineering and technology sector and demonstrates how it can continue to lead the way around the world, support the energy transition and capitalise on the Blue economy.
“The worldwide underwater engineering market is expected to grow significantly – annual global spend could be as much as £140 billion by 2035. The UK has the competitive edge and has a real opportunity to gain a larger share of this growing market.”
Trevor Garlick, chair of the global underwater hub and ONE Energy, said: “We welcome today’s Scottish Government funding announcement for the energy sector in North East Scotland, which includes support for a global underwater hub in Aberdeen to harness the huge potential the UK’s world-leading underwater engineering and technology expertise.
“The multi-sector hub will help UK companies win more business overseas, attract inward investment and develop the skills and technologies needed to increase our share – currently £8 billion – of a growing global market with a gross annual spend expected to reach c.£140 billion by 2035.
“It will play a significant role in furthering Scotland’s and the UK’s net zero ambitions, connecting companies, universities and R&D institutions across the UK to leverage the collective strength of the UK’s underwater industries – from offshore renewables and oil and gas, to marine science and defence.
“We look forward to continuing to work closely with underwater engineering and technology companies, Subsea UK and other trade associations, governments, academia and regional development agencies to deliver this exciting project.”
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