The Department of Energy and Climate Change (DECC) has today announced a large injection of cash into the development of low carbon technologies with the creation of a £16m fund for entrepreneurs.
The first phase of the Entrepreneurs Fund, part of a £35million fund announced earlier this year, is now open to applications. There is up to £10million available to support energy efficiency technologies such as building control systems, advanced lighting systems, and space heating and cooling technologies. There is also up to £6million available for power generation and energy storage technologies including fuel cells, biomass boilers and heat pumps.
The aim of this funding is to speed up the development of low carbon technologies towards commercialisation, helping cut carbon in the UK, supporting jobs and creating export opportunities. A second phase of this scheme will be launched in early 2013 with the remaining £19million available.
Climate Change Minister Greg Barker said: “Low carbon innovation is vital for the growth of our green economy. This investment will help entrepreneurs with novel ideas get designs off the drawing board and into our homes and businesses, helping cut carbon and spur on growth in this exciting market place.”