A trade organisation launched in Aberdeen this week aims to help UK companies capture billions in new business from the energy transition and burgeoning growth in the "blue economy". Global Underwater Hub (GUH), built on the foundations of the former Subsea UK organisation, wants to help industry capitalise on an "unprecedented scale of global opportunity" in the underwater and subsea sectors. Backed by ￡13 million ($17.7 million) of funding from the UK and Scottish governments, GUH plans to expand its focus on the subsea oil and gas sector to include related sectors such as renewable energy, defence and fisheries. Currently these are valued at a combined ￡8 billion, but GUH reckons they have the potential to be valued at ￡45 billion by 2035 and, if conditions are right, an estimated 180,000 jobs could be created, and ￡20 billion or more in exports. GUH described itself as a "strategic, intelligence-led organisation" that, among other things, will help give companies "visibility of the opportunities" and "clarity" around accessing funding and support.
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