Do you have an innovative energy idea or product?

A share of £19 million of Government funding is available for entrepreneurs with innovative ideas and products in energy efficiency, storage and low carbon generation. It is part of the […]

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By Priyanka Shrestha

A share of £19 million of Government funding is available for entrepreneurs with innovative ideas and products in energy efficiency, storage and low carbon generation.

It is part of the second phase of the Energy Entrepreneurs Fund, which aims to help small and medium sized businesses, including start-up companies bring their products to market.

The scheme has already provided £16 million since 2012 and the previous phase of the fund included projects such as energy and heat storage, tidal turbine testing and an ‘Eco power shower’.

The news follows a recent report that suggested investments in low carbon technologies could help the UK save as much as £100 billion.

Energy Secretary Ed Davey said: “We’re on the side of innovative businesses and individuals with drive, passion, ideas and entrepreneurial spirit. This funding will get ideas off the ground and into the market, create new green jobs and help the UK get ahead in the innovation global race.

“An ambitious and driven small business sector can steer the economic recovery in the right direction. So I want to see Britain’s brightest and best SMEs sending in their applications.”

DECC expects to open calls for projects every four to six months until the full funding has been allocated. The deadline for the first call within this second phase is 12th July.