Scottish Enterprise (SE) and Energy Transition Zone (ETZ Ltd) have agreed a strategic partnership worth up to £20 million to accelerate Scotland's shift to low-carbon energy.

Under a new Memorandum of Understanding (MoU), SE intends to commit up to £20 million of capital to ETZ Ltd initiatives in Aberdeen and the wider North East, alongside funding from ETZ Ltd and other partners.

The agreement is designed to unlock as much as £65 million by 2032 for manufacturing, innovation, and test-and-demonstration facilities. It formalises a long-term joint approach to co-designing and investing in transformative energy transition projects and infrastructure across the region.

The first investment under the MoU is SE's £2.8 million backing for ETZ EnergyWorks, ETZ Ltd's flagship incubator and scale-up hub focused on low-carbon technologies.

Further collaboration will centre on attracting international investment, creating high-value jobs, enhancing net zero infrastructure, supporting new technology development and strengthening Scotland's renewable energy supply chain.

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Firms located across ETZ Ltd sites will also gain direct access to SE specialists in areas including 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's highly skilled workforce, internationally recognised companies and established supply chains make it pivotal to a just transition. SE and ETZ Ltd say their combined efforts will help sustain the region's global standing in energy as the industry moves 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."