Companies that are developing innovative low carbon energy projects can now bid for extra funding, the Government has announced.
DECC is providing an additional £5 million for projects that cover generation, efficiency and storage. Half of the funding will be prioritised for carbon capture and storage (CCS).
It is part of the fourth round of the Government’s Energy Entrepreneurs’ Fund (EEF), which helps small and medium sized businesses, including start-ups, bring a range of new low carbon projects to market.
Energy Minister Amber Rudd 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.”
DECC has today also awarded a share of £9 million to 19 projects, which includes renewable technologies, efficient engines and vehicles and energy management and storage solutions, under the third phase of the Fund.