Commenting on today’s announcement from the Chancellor, Neil Gordon - chief executive of Subsea UK, said: 
“With this further, and very welcome, funding from the UK Government for the Global Underwater Hub, the industry and all stakeholders will deliver a sustainable institution with the necessary resources to significantly grow the UK’s underwater engineering capability and capacity, capitalising on the opportunities in the energy transition and the blue economy.

“The £7.8billion subsea industry, with its roots in oil and gas, a strong foothold in offshore wind and massive potential in marine renewables, defence, ocean science, aquaculture and other segments of the blue economy, can become one of the UK’s fastest-growing, high value industries of the future, increasing exports, creating jobs and contributing not only to economic recovery but, crucially, to delivery of our net-zero targets.”

Energy Industry Directory: Subsea UK