Partnership

ETZ Ltd

The Wood Foundation’s long-term support is helping ETZ Ltd turn North-east Scotland’s 50 years of energy expertise into lasting jobs, investment and growth, while strengthening the region’s position as a global centre of energy excellence.

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ETZ Ltd

Building the UK’s energy transition hub

Established in April 2021, ETZ Ltd is a private sector-led, not-for-profit delivery organisation with funding support from the UK and Scottish Governments. Its purpose is to accelerate North-east Scotland’s energy transition to create lasting jobs and prosperity for the region, Scotland and the UK.

ETZ’s role extends across North-east Scotland, supporting investment, business growth, innovation, skills, convening and advocacy. As part of that wider regional role, it delivers the Energy Transition Zone at Altens and Aberdeen South Harbour, bringing together specialist facilities, industrial property and development sites.

For The Wood Foundation, ETZ Ltd is part of a wider commitment to helping North-east Scotland adapt, lead and thrive as the energy sector changes.

Scotland’s largest dedicated energy transition complex

At the heart of ETZ Ltd’s work is the Energy Transition Zone, Scotland’s largest dedicated energy transition complex.

Located beside the deep-water, non-tidal Aberdeen South Harbour, the Zone combines the reuse and improvement of existing industrial property with new development opportunities. It brings together market-ready property and development sites, specialist facilities, an established supply chain, port access and Investment Zone tax-site status to attract businesses with clear plans to invest and grow.

Its ambition is not only to support individual projects. ETZ Ltd is helping create the conditions for the region to remain globally competitive as the transition gathers pace.

A long-term partner in the region’s future

The Wood Foundation’s support for ETZ Ltd sits alongside its wider investment in North-east Scotland’s economic future.

Opportunity North East is a founding partner and co-funder of ETZ Ltd. Its initial £5.7 million commitment over five years helped establish ETZ Ltd and unlock significant support from the Scottish and UK governments.

This partnership supports ETZ Ltd’s ambition to attract more private investment, help innovative and ambitious companies grow and strengthen North-east Scotland’s long-term resilience as a globally competitive energy region.

Investment in action

The Wood Foundation’s additional long-term investment of £20 million builds on its earlier support for ETZ Ltd through Opportunity North East.

The landmark commitment has enabled match funding from the Scottish Government, strengthening ETZ Ltd’s ability to attract investment, support supply chain growth and secure lasting jobs and economic benefit for North-east Scotland.

£20 million

further support for ETZ Ltd as part of The Wood Foundation’s latest regional investment
£40 million

total Wood Foundation investment announced for ONE and ETZ Ltd
Long-term regional backing

support focused on helping North-east Scotland remain a globally relevant energy region
Coordinated investment

backing for ETZ Ltd alongside Opportunity North East, connecting energy transition with wider economic diversification

The impact of the partnership

ETZ Ltd is helping North-east Scotland prepare for a new phase of energy growth by supporting business growth, attracting investment and developing specialist facilities and market-ready sites. Flagship assets include W-ZERO 1, a focal point for offshore wind innovation and home to ORE Catapult’s National Floating Wind Innovation Centre, and ETZ EnergyWorks, the UK’s first dedicated low carbon energy incubator and scale-up hub.

This partnership matters to The Wood Foundation because North-east Scotland already has world-class energy capability. ETZ Ltd helps turn that capability into jobs, investment and growth by connecting the region’s skills, supply chain, infrastructure and offshore experience with opportunities across the wider energy economy.

Maggie McGinlay

Chief Executive, ETZ Ltd

“The Wood Foundation has been fundamental to the development of ETZ Ltd since our establishment in 2021. The initial investment through Opportunity North East was the catalyst for unlocking Scottish and UK government funding for transformational projects, including the National Floating Wind Innovation Centre, Scotland’s largest Energy Transition Skills Hub and the UK’s first low-carbon energy incubator and scale-up hub. It also enabled comprehensive support for the energy supply chain, including the ETZ Challenge Fund, which has supported more than 50 companies to accelerate their plans for low-carbon and green energy markets. Together with our skills and community activity, these projects reinforce North-east Scotland’s position as a global leader in energy excellence.

We are hugely grateful for The Wood Foundation’s landmark long-term investment of £20 million, which gives us the confidence and stability to continue positioning the region as an attractive location for investment in low-carbon technologies. Critically, this support has enabled a match-funding commitment from the Scottish Government to significantly enhance ETZ Ltd’s impact, helping to create and safeguard jobs and secure lasting economic benefit in North-east Scotland for years to come.”

Explore other key partnerships

The Wood Foundation’s work with ETZ Ltd sits alongside other major partnerships supporting Scotland’s economy, education and communities.