UK-based Energy Innovation Centre (EIC) has announced that it will provide funding in 2013 totalling over £36m, to innovators with unique ideas for the electricity and gas market.
Different funding sources can be accessed through EIC, while the investment will be selected by the UK’s leading gas and electricity networks.
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The energy networks look out for new technologies to augment the way power is transported, monitored and stored.
EIC will match innovators with energy networks for innovative projects, and assist with potential submissions for funding through mechanisms such as Ofgem’s Innovation Funding Incentive scheme, the Low Carbon Networks Fund and the Network Innovation Stimulus Programme.
In February 2012, EIC announced a funding of £29.2m for projects, including new services and technologies.
Previously, EIC has helped Gnosys Global, a spin out company from Surrey University, to secure funding for a project to enhance the damage resistance of underground and subsea cables for SP Energy Networks and SSE.
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By GlobalDataEIC also helped Bellrock Technology to receive funding from SSE, to implement an innovative technology that will help engineers to manage their assets efficiently.
The company’s Lumen platform coordinate with end user, by delivering the exact data and analytics they required.
Energy Innovation Centre managing director Denise Massey said the number of investments have increased in 2012, while the centre has accelerated a number of innovative ideas into the market.
"We are now the single point of contact for innovative SMEs to engage with major companies in the energy industry as we work towards more sustainable technologies and a low carbon future," Massey added.
The centre has provided business support to about 400 SMEs in the UK and across the world, and is currently working with about 100 innovators and organisations, such as electricity companies like Electricity North West, Northern Powergrid, SP Energy Networks, SSE, and UK Power Networks.
It also works with gas networks such as National Grid, Scotia Gas Networks, Northern Gas Networks and Wales, and West Utilities.
Image:EIC managing director Denise Massey. Photo: Courtesy of Energy Innovation Centre.
