Power Enable Solutions Ltd t/a REOptimize Systems in Edinburgh has received £660,854.40 from the UK Government in a round of funding for British entrepreneurs which develop greener technologies.
A total of £24 million is being granted from the £19 million Energy Entrepreneurs Fund and a further £5 million will be available through the Local Industrial Decarbonisation competition which will launch this summer to 37 companies in Britain.
The Energy Entrepreneurs Fund is intended to drive forward innovations to reduce carbon emissions, develop clean energy and improve energy efficiency in people’s homes.
The other Scottish projects are:
- Decommissioning oil wells: Clearwell Technology Ltd, based in Aberdeen, received £223,872 to design a thermal pipe milling tool for well plugging – a green tech that could transform how oil and gas wells are sustainably decommissioned
- Tidal turbine testing – Glasgow based, Flex Marine Power Ltd, received £968,205, towards a lower cost tidal turbine for coastal power generation within a microgrid which will be tested with community partners on the island of Islay
- Innovatium Group Ltd (£324,413.71) based in Glasgow
- Synaptec Ltd (£829,220.41) based in Glasgow
Secretary of State for the Department for Energy Security & Net Zero Grant Shapps said: “The UK is a nation of innovators, and this funding will help the next generation of energy pioneers develop cheap and green technologies of the future.
“This will not only deliver more green jobs and cheaper energy but also create world-leading solutions to help us reach net zero and economic growth.”
Welcoming the announcement Minister for Scotland John Lamont said: “I am delighted that five Scottish projects have received funding from the UK Government. Energy innovation is a vital part in helping the UK reach our net zero target by 2050 and these Scottish projects will be key to discovering decarbonisation solutions as well as helping to boost green jobs and economic growth.”
The government will launch a £5 million Local Industrial Decarbonisation Plans competition this summer. The competition will support groups of industrial businesses such as glass, cement and ceramics manufacturers, join together in ‘clusters’. Along with other key stakeholders including local authorities and Local Enterprise Partnerships (LEPs), these ‘local industrial clusters’ will develop coordinated and collaborative decarbonisation plans that will kickstart their journey towards a low-carbon future.
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