DECC dishes out £21m to low carbon entrepreneurs
- Published on Thursday, 16 May 2013 10:22
- Posted by Vicki Mitchem
£21million has been awarded to entrepreneurs to help bring a range of new and innovative low carbon products to market, the Department of Energy and Climate Change (DECC) has announced today.
The Energy Entrepreneurs Fund, Energy Storage competitions and Advanced Heat Storage scheme are all designed to spur on innovation in the low carbon sector, helping to support jobs and create export opportunities as well as help the UK meet its carbon targets.
Climate change minister, Greg Barker, said: "This new investment will give these organisations the boost they need to drive forward the development of a range of innovative low carbon designs, helping cut costs and bring new technologies to market in this sector.
"Innovation is vital for the move towards a low carbon economy and it's great to see so many entrepreneurs rising to the challenge. I wish the winners every success with their projects."
Energy Entrepreneurs Fund
30 projects have been awarded a share of up to £16million under the first phase of DECC's Energy Entrepreneurs Fund. The funding is part of a £35million fund announced in April 2012, and aims to support energy efficiency technologies such as building control systems, advanced lighting systems and space heating and cooling technologies, alongside power generation and energy storage technologies including fuel cells, biomass boilers and heat pumps. Winning designs range from smart energy demand controls and innovative waste management solutions, to innovative ideas for installing insulation.
Energy Storage Competitions
16 organisations have been awarded a share of £2 million to help develop innovative storage solutions for energy. The £2million includes £0.5million for 12 organisations to carry out feasibility studies into innovative and diverse energy storage ideas under the under Energy Storage Technology Demonstration Competition. It also includes £1.5million for 4 winning companies to improve components or materials used for energy storage systems and to develop feasibility studies to explore how storage systems work and how they can be used in the UK electricity network.
Advanced Heat Storage
£3million has been awarded to entrepreneurs to carry out feasibility studies and demonstrate designs for innovative compact heat stores in the domestic sector. DECC has funded feasibility studies for 15 different designs and following on from this work, has awarded money to test out 9 large scale prototypes.
Source: Renewable Energy Installer