Sir Ian Wood: Acorn CCS project ‘hopeful’ but north-east freeport in danger of ‘screwing up’

Sir Ian Wood: Acorn CCS project ‘hopeful’ but north-east freeport in danger of ‘screwing up’

Billionaire industrialist Sir Ian Wood has said he is “more hopeful” about the prospects of a landmark project to capture, store and manage carbon in the north-east than he was when it was snubbed in a £1billion government funding programme a few weeks ago.

However, he warned that political machinations were in danger of “screwing up” another key strategy to secure the region’s place in the transition away from oil and gas, the establishment of a so-called “freeport” in Aberdeen and Peterhead.

Speaking at an event aimed at securing continued business growth in the region as the world moves towards net zero energy production, Sir Ian said a joint bid from partners in Aberdeen and Aberdeenshire to win a coveted Scottish freeport designation was currently in a “muddle”.