The Memorandum of Understanding (MoU) outlines the intention for up to £20m of capital investment by SE into ETZ Ltd projects in Aberdeen and the North East, alongside ETZ Ltd and other partners.

It is aimed at unlocking total investment of up to £65m in manufacturing, innovation and test and demonstration space by 2032. The MoU strengthens the organisations’ existing relationship by formalising a long-term commitment to jointly invest in and co-design transformative energy transition projects and infrastructure in the region. 

The first project to achieve funding under the MoU is SE’s £2.8m investment into EnergyWorks, ETZ Ltd’s flagship low carbon energy incubator and scale-up hub.

Other areas of collaboration include attracting global investment, creating high-value jobs, enhancing net zero infrastructure, enabling new technology development and bolstering Scotland’s renewable energy supply chain.

Companies based at ETZ Ltd locations will also benefit from direct access to SE specialists in industries such as offshore wind, hydrogen, sustainable alternative fuels and carbon capture, utilisation and storage (CCUS).

Adrian Gillespie, chief executive of Scottish Enterprise, said: “We’re committed to ever closer working with ETZ Ltd and others to accelerate Scotland’s energy transition.

“This strengthened partnership paves the way for greater public-private collaboration, ensuring we maximise the benefits this key opportunity presents for Scotland’s economy and its communities, particularly in the North East.

“Through our missions approach Scottish Enterprise supports ambitious energy transition companies to scale and grow by enabling their international expansion, strengthening our supply chain capabilities and driving greater investment into important infrastructure such as ports and harbours.”

The North East is strategically important for a successful just transition due to its highly skilled workforce, internationally renowned businesses and existing supply chains. SE and ETZ Ltd have a crucial role to play in maintaining the region’s global reputation for energy production and exports as the sector makes the shift towards renewables.

Maggie McGinlay, CEO, ETZ Ltd, said: “From day one, ETZ Ltd has been built on partnerships and collaboration with those committed to securing North East Scotland’s future as a global leader in energy excellence.

“Our work to date with Scottish Enterprise has sowed the seeds for transformational change for Aberdeen and the wider region and this agreement will only strengthen this further.

“Through targeted, strategic investment in key projects, we will help to unlock tens of millions of private capital to deliver the manufacturing, innovation and test and demonstration facilities needed to deliver the just transition that Scotland’s workforce deserves.”