Carbon Trust doubles technology fund

The Government-backed organisation said the increase in the maximum grant size from £250,000 to £500,000, will enable the development of more ambitious projects with the potential for even greater carbon savings. It is calling on low carbon businesses, entrepreneurs and academics developing carbon saving technology projects to apply for funding now.

“It is vital to turn viable low carbon technologies into commercial reality. By increasing our grants to half a million pounds and matching this with private investment, we can build on the UK’s strong technological and engineering expertise,” said Robert Trezona, head of R&D at the Carbon Trust.

Trezona said the increase in funding would help meet the UK’s renewable energy targets. Last week, the Government's Climate Change Committee recommended that the UK should cut greenhouse gas emissions by 80 per cent by 2050, instead of the 60 per cent cut currently in the Climate Change Bill.  

Since 2001, the Carbon Trust’s Applied Research scheme has invested a total of £18.5 million in 145 projects covering a wide range of renewable energy and energy efficiency technologies, including fuel cells, combined heat and power, bio energy, solar power, low carbon building technology, wave energy converters and more efficient industrial processes.  

Of the 95 projects completed to date through the scheme, the Carbon Trust said 70 per cent had filed patents, secured follow-on funding or generated commercial sales, or are expecting to do so shortly.

In another move to reduce carbon emissions in the UK, last month the Carbon Trust increased its Energy Efficiency loans fund for small businesses by almost half to £31 million and raised the maximum size of individual loans from £100,000 to £200,000.