By DARA BUTTERFIELD
The government’s Energy Entrepreneurs’ Fund is offering £5 million in grants to cutting-edge low carbon energy projects, with half prioritised for Carbon Capture and Storage (CCS).
This fund has a specific focus on CCS because this could enable the UK to decarbonise future energy system in the most cost effective way
Carbon Capture and Storage is the process of capturing millions of tonnes of CO2 from power stations and industrial facilities and storing the CO2 deep under the sea bed.
The UK is leading Europe with two commercial-scale projects under development. Without CCS, decarbonising the energy system will be up to £40 billion more expensive per year.
Amber Rudd, UK Energy and Climate Change Minister, said: “As the nation that is leading the way in tackling climate change, it is important that we support small and medium sized businesses get their innovative energy projects off the ground.
“We will see the benefits in terms of increased energy security and affordable, low carbon electricity – Carbon Capture and Storage for example could be one of the most cost effective ways to decarbonise our future energy system.”
EEF has so far given out grants of £35 million through the previous three phases of the EEF to at least 70 businesses, supporting an estimated 290 jobs and stimulating £26.6 million of private sector investment.
Nineteen projects have recently been awarded a share of the £9 million available through the third phase of the fund. They include renewable generation technologies, efficient engines and vehicles, energy management and storage solutions.