Humber Freeport’s £25m Seed Fund Spurs £170m Private Investment in Regional Industrial Projects

More than £170 million of private sector investment has been unlocked in the Humber region thanks to a £25 million seed capital fund provided by Humber Freeport. The fund has been instrumental in advancing projects deemed strategically vital for the area’s economic development.

Allocated by the Government, the seed capital has supported a range of initiatives including Hull-based Ideal Heating’s UK Technology Centre, the skills training provider CATCH near Grimsby, and Associated British Ports’ Helm industrial park in Immingham. Data from Humber Freeport highlights that for every £1 million of public funding, nearly £7 million of private investment has been committed.

Simon Green, Chief Executive Officer of Humber Freeport, said: “To see many of the projects supported by the Freeport’s seed capital fund come to fruition has been extremely rewarding. Those projects, such as the expansion at CATCH and Ideal Heating’s pioneering UK Technology Centre, will make an important contribution to skills and employment in our region.”

He added: “What has been equally rewarding to see is the catalysing effect of the seed fund. That £25 million investment from the Freeport has been an enabler and unlocker of significant private sector funding. Beyond that, it has helped to create the sites, and the skills, which investors are looking for. That is exactly what freeports were established to do, and underlines why Government has put them firmly at the heart of its Industrial Strategy.”

Projects benefiting from the seed capital fund include:

• A new food processing plant and loading facility at edible oils producer AAK in Hull.
• Associated British Ports’ Helm industrial and manufacturing park in Immingham.
• An expansion of training facilities at CATCH in Stallingborough.
• Reclamation of 1.3 hectares of prime development land at the former Evans Halshaw site on Holderness Road, Hull, creating 4,000 square metres of high-value employment space.
• HiiROC’s pilot hydrogen facility at Saltend Chemicals Park, east of Hull.
• Infrastructure enhancements unlocking prime sites at Humber Freeport’s Hull East tax site.
• Ideal Heating’s state-of-the-art UK Technology Centre at its headquarters in Hull.

Collectively, these projects have received the full £25 million seed capital allocation from Humber Freeport. Once completed, private sector investment in these initiatives is expected to reach £170 million, bringing the total investment in the Humber economy close to £200 million, with significant benefits for job creation and skills development.

The seed capital fund’s impact reflects Humber Freeport’s expanding economic influence across the region, supporting both investment attraction and the development of skills and innovation pathways.

Recently, delegates from UK freeports and Government departments visited Ideal Heating’s UK Technology Centre (UKTC) at the company’s National Avenue headquarters in Hull. The £20 million facility aims to accelerate innovation and product development in low-carbon heating solutions, including heat pumps.

Jason Speedy, Chief Operations Officer at Ideal Heating, commented: “Through its seed capital fund, Humber Freeport made an important contribution to the development of our industry-leading UK Technology Centre in Hull. The UKTC will serve as a testbed for innovation and product development, helping us advance the low-carbon heating solutions which will keep homes and businesses warm for decades to come. The Freeport identified the UKTC as a project which is strategically significant for the region, closely aligned with its own values around innovation, decarbonisation and low-carbon technology.”

Following the visit to Ideal Heating, delegates toured CATCH’s expanded training facilities and new conference centre in Stallingborough, near Grimsby. These facilities are designed to support emerging sectors such as hydrogen, carbon capture, and renewable energy technologies, fostering investment and job growth across the Humber’s industrial cluster.