Innovate UK, part of UK Research and Innovation, has teamed up with energy and services firm ENGIE to support projects working on the transition to clean energy.
The £4 million competition will fund innovative projects that decarbonise, digitise and decentralise (find ways to generate power off the main grid) energy, and help achieve a sustainable transition to cleaner energy.
Successful projects will receive a combination of government grants from Innovate UK, and private investment from ENGIE. For the first time in an Innovate UK programme, the private funding will be from overseas.
The competition aims to allow organisations to form investment partnerships at an early stage. To do this, ENGIE and Innovate UK are bringing together:
- Innovate UK’s expertise in identifying promising innovations and using funding to materially change their risk profile
- ENGIE’s expertise in identifying commercial and customer focused opportunities that are most likely to grow and make the best use of extra investment finance