A new energy ‘Catalyst’ fund to support innovative UK companies and researchers in developing their early-stage innovations into commercial successes has been launched with an initial competition funded to the tune of £25 million.
The competition was launched by UK Energy Minister Michael Fallon, MP, and the prize is a greater share of huge emerging global markets for energy technology.
This is more than double the prize-money on offer in the Scottish Government’s Saltire renewable energy competition.
Competition winners will be funded from early concept through to pre-commercial technology validation, and will be taking applications from 19 May 2014. Projects can be based on innovation that incorporates:
- new technologies
- enhancement of existing technologies
- components, sub-systems or systems
- integrated whole system approaches
- enabling technologies for the energy system.
The Energy Catalyst is funded by the Technology Strategy Board, along with the Engineering & Physical Sciences Research Council and the Department of Energy (DECC). It is the latest in a series of sector-specific Catalysts.
Iain Gray, Chief Executive, Technology Strategy Board, said: “The Energy Catalyst will support those early-stage innovations with the potential to meet the challenge of providing affordable, secure and low carbon energy.
“We’re particularly pleased to be building upon the successful catalyst model we and our partners have implemented with such success through the Biomedical and Agri-Tech Catalyst programmes, and look forward to continuing our work to support innovative UK companies working in the energy sector.”
For more information:
Tel 0300 321 4357