By Jaime Llinares Taboada

The U.K. government said Monday that it has approved a 166.5 million pounds ($235.6 million) funding package to develop technologies needed for a green industrial revolution.

The Department for Business, Energy & Industrial Strategy said the money will support technologies in carbon capture, greenhouse-gas removal and hydrogen, while also helping find solutions to decarbonize the manufacturing, steel, energy and waste sectors.

The investment will help energy-intensive businesses like Tate & Lyle PLC, BAE Systems PLC and Celsa Manufacturing UK Ltd., the government said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

May 24, 2021 05:08 ET (09:08 GMT)

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