New £25 Million Energy Catalyst Fund to Support UK Energy Technologies
Launching in May, this new ‘catalyst’ fund is intended to support innovative UK companies and researchers in developing their early-stage innovations into commercial successes.
The Energy Catalyst will accelerate innovation by providing investment and support at the time, in the way and at the scale innovators need it. It will help stimulate and support innovation at all stages through to commercial readiness and bring the best ideas, processes, products and skills to the UK energy supply chain to make it globally competitive.
Technology innovation in the UK energy sector is required to successfully address the energy ‘trilemma’ of: low carbon; security of supply; and affordability. These challenges are creating major global market opportunities, for which the UK can develop and grow innovative businesses to deliver world-leading solutions.
Funding up to £25 million will be available for the first round, opening in May 2014.
The following funding strands will be available:
Early-stage awards: Technical feasibility
These projects will explore and evaluate the technical potential of an early-stage idea or concept through technical feasibility studies (including, for example, pre-industrial research at a small scale).
Mid-stage awards: Technology development
These projects will take innovative ideas forward through the technology development stage by conducting industrial research and development (including, for example, laboratory studies, testing, verification and evaluation in simulated environments).
Late-stage awards: Pre-commercial technology validation
These projects will demonstrate and evaluate the capability and performance of innovative technologies through pre-commercial technology validation (including, for example, prototype and pilot testing including field trials in realistic operating environments).
For further details please visit Technology Strategy Board website