Business News Round Up (27/05/2025)
UK losing ‘mission critical’ net zero supply chain to foreign projects
The UK is losing the skills and supply chain required to deliver its net zero ambitions, with a growing share of energy sector jobs, investment and innovation shifting abroad. That’s according to the 41st Energy Transition Survey, published today by Aberdeen & Grampian Chamber of Commerce, in association with Johnston Carmichael and D2Zero, which shows an exodus of activity from the UK Continental Shelf. Among the more than 100 polled firms which are active in basin, two thirds expect to increase headcount overseas in the next five years. Almost half report staff already leaving the UK to work in other energy regions, triggered by weak domestic confidence, uncompetitive policy and a lack of viable projects. Many firms anticipate that the majority of their work will be overseas by 2030, with the tipping point coming around 2027-28.
https://www.insider.co.uk/news/uk-losing-mission-critical-net-35288385
BGF pledges £400m to North West businesses over next five years
BGF, the growth capital investor owned by five major banks, has pledged £400 million to North West businesses as part of its £3 billion commitment to support high-potential companies across the UK over the next five years. This builds on the £596 million BGF has already invested in the North West since 2011. The pledge is part of a broader strategy to scale capital deployment and support growth companies across the region. The nationwide strategy includes a £300 million commitment to female-powered businesses following an earlier £25 million to the Invest in Women Taskforce (IWT), which unlocked over £250 million in capital in 2023. Since 2011, BGF portfolio companies have delivered £7.1 billion in revenue growth, £1 billion in export growth, and created more than 27,000 jobs. BGF’s regional-first strategy has resulted in 74% of its capital being invested outside London and the South East.
Angel investment in Scotland remains steady
Scotland’s angel investors maintained their support for emerging SMEs, according to the latest annual data. Figures from Angel Capital Scotland, the national association for the sector, show that the number of investments was broadly flat at 91 from 94 in 2023-24, and the value of private capital committed increased slightly to £106.4m from £100.6m. This is said to reflect an increasing average deal size. Public sector co-investment provided a further £25.6m. There was a wide range in the value of individual deal sizes from around £20,000 to more than £4m. The support was heavily focused on companies with proprietary intellectual property in key technology sectors, with life sciences / health, digital / software, and enabling technologies such as photonics, accounting for almost two thirds of the total. The energy, renewable and environmental sectors also continued to grow.
UK AI collab with EU to open access to supercomputers
Healthcare treatments, clean energy technologies and advanced breakthroughs that could transform lives across the UK are within reach, as the UK Government backs plans for a new AI collaboration with Europe. Public research organisations can now apply to host the UK’s AI Factory Antenna – a facility that, if approved, would link British research expertise to its advanced supercomputers across Europe. Access to cutting-edge compute power – the high-performance processing capability needed to handle vast data and complex models – is the engine of progress in AI. Greater collaboration in this field could help address global challenges, support the development of advanced AI systems used in healthcare and energy, and drive economic growth. The announcement follows the new UK-EU agreement which aims to boost British jobs, help businesses, as well as the public.
https://www.digit.fyi/uk-ai-collab-with-eu-to-open-access-to-supercomputers