£35m to support SME cleantech innovations
Green innovation news - by GreenWise staff
25th April 2012
Entrepreneurs and small firms with innovative clean energy ideas are to benefit from £35 million of funding, the Government announced today.
The Energy Entrepreneurs Fund
will help small to medium-sized enterprises
(SMEs) over the next three years that are looking to develop and demonstrate low carbon technologies
for buildings and power generation. It was launched today by the Energy and Climate Change Secretary Ed Davey at the start of a two-day international summit
on clean energy being hosted by the UK Government in London.
The funding is part of £200 million awarded to the Department of Energy and Climate Change (DECC) towards innovation in the 2010 Spending Review. It will primarily go towards developing energy efficiency
solutions for buildings, including advanced lighting, heat pumps and ventilation technologies. Cleantech ideas around power generation will also benefit.
"Part of the way that we're going to tackle climate change and get clean energy is through innovation
, particularly with SMEs," said Davey, who is co-chairing today and tomorrow’s third Clean Energy Ministerial, where Energy Ministers from 23 countries are discussing accelerating the transition to clean energy technologies.
"We’re allocating a fund of £35 million which will help innovators and entrepreneurs develop and demonstrate low carbon technologies."
Energy Entrepreneurs Fund
Up to £20 million of the Energy Entrepreneurs Fund will be available from this summer to support energy efficiency technologies through DECC’s Buildings Innovation Programme. A further £15 million will support power generation ideas at a later stage.
DECC said SMEs would be able to apply for up to £1 million each and would also benefit from expert advice on how to bring their products to market.
Heat storage competition
DECC also announced today that it will shortly launch a £3 million competition, in partnership with the Technology Strategy Board, to develop innovative heat storage technologies which can be installed in homes and even out peak electricity demand from low carbon heat technologies such as heat pumps.
To support SMEs applying for low carbon funding, DECC is also launching an online 'navigator’. The tool will go live tomorrow and is available at www.lowcarbonfunding.org.uk.
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