We’re delighted to announce that the UK Infrastructure Bank (UKIB) has today confirmed an initial investment of £20m to XLCC, with an option for an additional £67m. The funds will support the development of our world-leading factory in Hunterston, Scotland, which will create 900 highly skilled jobs and significantly strengthen the UK’s supply of HVDC cables which is vital to enabling our transition to net zero.

Ian Douglas, XLCC’s CEO, said:

XLCC’s mission is to provide critical elements of the infrastructure that is essential to the energy transition and will reduce project costs to the benefit of the UK consumer. The creation of the Hunterston facility in Scotland brings significant investment to the UK, creating highly skilled jobs in advanced manufacturing and project management for decades to come. We welcome the foresight of UKIB and our other investors in recognising the opportunity to create a new force in HVDC cables to address both domestic and global requirements.”

Read the full press release here.