ENGIE partners with Innovate UK for sustainable energy transition
ENGIE has partnered with Innovate UK to seek out and fund innovative projects that can speed up the development of a sustainable energy transition.
The £4million fund will be used to invest in innovative projects that decarbonise, digitise and decentralise 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.
The fund aims to allow organisations to form investment partnerships at an early stage. To do this, ENGIE and Innovate UK bring 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
Ian Meikle, Director, Clean Growth and Infrastructure at Innovate UK, said: “We are seeking the very best of British ideas in clean growth innovation. By teaming up with ENGIE we can multiply our funding and do even more to grow the industries, businesses and jobs of tomorrow by bringing in the private sector at an earlier stage through this investment accelerator programme.”
Nicola Lovett, CEO of ENGIE UK & Ireland, said: “We are delighted to be working with both Innovate UK and ENGIE’s Paris-based New Ventures team to directly assist innovative UK companies in the clean growth sector – in areas such as renewables, energy services and e-mobility. This initiative also supports our own ambition to be a leader in making zero-carbon transition possible for businesses and local authorities.”
The Clean Growth Innovation Fund is an invitation-only programme for UK businesses to apply for a share of up to £4 million for innovative projects. Successful applicants will receive a combination of grant and investment to cover project costs. The fund launched in June 2019 and applications are open for 3 years, closing in May 2022.
- To lead a project, you must be a UK-based small or medium-sized business
- Total eligible project costs must be between £100,000 and £1.2 million
For more information visit: engie.co.uk/about-engie/innovation/