The third phase of the Energy Entrepreneurs Fund is now open to applications, with £10 million available for allocation.
Administered by the Department of Energy and Climate Change (DECC), the Fund is designed to support small and medium-sized enterprises operating in the green energy sector to propose low carbon ideas of the future. The Fund will provide financial assistance to these businesses in order to help them develop and demonstrate new low carbon technologies, services, and business models.
Under phase 3, which has a budget of £10 million, companies may apply for funds of up to £2 million (or £800,000 if applying as a Young Innovative Enterprise) that can then be used to leverage private investment. Applicants will also be able to obtain support from experts on how to bring their products to market.
The Funds will primarily be used towards developing energy efficiency solutions for buildings, including advanced lighting, heat pumps and ventilation technologies. Cleantech ideas around power generation will also benefit.
Speaking about the launch of Phase 3, Energy and Climate Change Minister, Greg Barker said:
"This investment will give SMEs a vital boost to drive forward the development of a range of innovative low carbon designs, helping cut costs and bringing new technologies to market in this sector.
"Innovation is vital for the move towards a low carbon economy and an essential part of our long term economic plan. I look forward to seeing our great entrepreneurs rising to the challenge."
Applicants are invited to submit an Expression of Interest and key project and contact details through an online survey. The deadline for registration is Friday 17 February 2014.
In addition to completing the registration, applicants must also send an email to firstname.lastname@example.org by 19 February 2014 to stating the company name, project title and confirmation of intention to submit an application by 24 February 2014.
See the DECC website for more information.