UK Infrastructure Bank to invest in XLCC for £87m.

UK Infrastructure Bank, a British state-owned development bank, agreed to invest in XLCC, a subsea HVDC cable manufacturer, for £87m. "Industry projections indicate that demand for subsea cables will soon exceed existing supply chain capacity. Our support for XLCC is intended to provide confidence to the market, crowding private investment into this sector to boost production capacity in an industry set to have a significant impact on the UK‘s transition to net zero," John Flint, UK Infrastructure Bank CEO.