A project to help bright energy ideas become reality is taking applications for its latest round of investment.
The Ignite ‘Big Energy Idea’ Accelerator Programme is an ‘impact investor’, meaning it gives funding to innovators and entrepreneurs in the energy sector to support the testing and development of new sustainable products and services.
Ignite, backed by Centrica, is the UK’s first energy focused impact investment fund. As well as providing firms with financial assistance, it also offers key knowledge and expertise to help maximise their potential.
The end goal is to make a positive social and environmental impact alongside a financial return.
Since 2014, the programme has supported more than 25 enterprises and invested around £8 million.
One of those projects was Somerset-based Brackenburn’s first factory. Founded in 2008, the company harvests nuisance crop bracken and transforms it into eco-friendly biomass fuel.
The firm now employs four people and sells its product to more than 70 distributors across the UK.
Co-Founder Barry Smith said: “The support we received from Ignite has totally transformed the way that our business operates. If you have a great energy idea, get involved and apply.”
Applications for 2017 opened this week and will close on 31st January.