The first phase of the Entrepreneurs Fund, part of a £35M fund announced earlier this year, is now open to applications, the government announced today.
Up to £10M is available to support energy efficiency technologies such as building control systems, advanced lighting systems, and space heating and cooling technologies and an additional £6M is available for power generation and energy storage technologies including fuel cells, biomass boilers and heat pumps.
The aim of this funding is to speed up the development of low carbon technologies towards commercialisation, helping cut carbon, supporting jobs and creating export opportunities.
A second phase of this scheme, building on the first phase, will be launched in early 2013 with the remaining £19M available.
Bids will be assessed against criteria including the impact of the proposed technology on meeting the Government’s 2020 and 2050 carbon targets, commercial potential of designs, improved performance characteristics over existing technologies and products, and ability to cut the cost of installation or maintenance of existing systems. A panel of investors will advise the Department of Energy and Climate Change on the commercial potential of the bids.
The scheme will support projects at Technology Readiness level 3 (TRL 3) and above. Applications can be made online and must be submitted by 31 October 2012 at the latest. Successful bidders will be announced later in the year.