UK university offers £75k of low carbon funding

The University of East Anglia has opened its second round of funding for the low carbon economy. The Low Carbon Innovation Fund (LCIF) provides finance to help small and medium […]

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By Jonny Bairstow

The University of East Anglia has opened its second round of funding for the low carbon economy.

The Low Carbon Innovation Fund (LCIF) provides finance to help small and medium sized enterprises (SMEs) reduce their carbon usage and emissions, either through the products and services they sell or through their own operations.

Its second funding round is now open for businesses based in the East of England to secure between £25,000 and £75,000 of investment in return for a stake in their firm.

The LCIF can invest up to 50% of the amount a company is seeking, with the rest coming from the private sector.

As part of the programme, companies will also receive help to develop their business plans, reduce their carbon footprint and maximise energy savings.

New York State has announced $5.5 million (£4.26m) in funding to increase knowledge among SMEs and householders about how to maximise energy efficiency.