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
Best of British ideas
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, added:
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 first round of this competition opens Monday 10 June 2019
- the first round closes 12:00 on Wednesday 14 August 2019
- this competition is offering grant funding
- 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. We may consider funding 1 project over the life of
the programme of £1.5 million
About ENGIE
ENGIE is a leading energy and services company focused on 3 key
activities: production and supply of energy, services and
regeneration. Its 17,000 employees combine these capabilities for
the benefit of individuals, businesses and communities throughout
the UK & Ireland.
ENGIE enables customers to embrace a lower carbon, more efficient
and increasingly digital world. Its customers benefit from energy
efficient and smart building solutions, the provision of
effective and innovative services, the transformation of
neighbourhoods through regeneration projects, and the supply of
reliable, flexible and renewable energy.
ENGIE improves lives through better living and working
environments, helping to balance performance with responsibility,
enabling progress in a harmonious way.
Globally, the ENGIE Group employs
160,000 people worldwide and achieved revenues of €60.6 billion
in 2018.
About ENGIE New Ventures
ENGIE New
Ventures (ENV) is the corporate venture arm of ENGIE.
ENGIE is committed to leading the energy revolution, moving
towards a more decarbonised, decentralised and digitised world.
ENV is a €170 million fund focused on taking minority stakes in
high-performing startups. ENV has deployed €75 million of capital
across 21 investments. Portfolio companies include: FTS Connected
Energy, Kiwi Power, Advanced Microgrid Solutions, Gogoro,
Heliatek, StreetLight Data, Sigfox, and HomeBiogas. Offices are
located in Paris, San Francisco, Singapore and Tel-Aviv.
About Innovate UK
Innovate UK is part of UK Research and Innovation, a
non-departmental public body funded by a grant-in-aid from the UK
government. For more information, visit the UK Research and Innovation
website.
We drive productivity and economic growth by supporting
businesses to develop and realise the potential of new ideas,
including those from the UK’s world-class research base.
