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It has announced spinoffs of two companies — Form Bio, which markets advanced computational techniques to develop new therapies, and Breaking, which develops technologies to remove plastics from the environment.

It said jobs could be created in areas like sustainable aviation fuel, hydrogen production and plastics recycling but it would require £3.5bn of private investment.

Such essentials exclude raw materials, such as plastics.

In the months since they erupted, the remnants of cars, plastics, batteries, household chemicals and other potentially toxic material have continued to wash into the sea and up onto beaches.

It says jobs could be created in areas like sustainable aviation fuel, hydrogen production and plastics recycling.