New funding announced for “green entrepreneurs”

“Green entrepreneurs” have been invited to apply for a share of £11 million in funding through the Energy Entrepreneurs Fund (EEF).

Made available through the Net Zero Innovation Portfolio, the scheme is designed to help businesses bring concepts to market by supporting the “development and demonstration of state-of-the-art technologies, products and processes”.

Phase 8A of the EEF will see £11 million in grants shared between 15 to 20 projects, with each receiving up to £1 million.

Successful applicants are likely to be small or medium-sized enterprises or start-up companies developing technology in the areas of energy efficiency, power generation, heat generation or energy storage.

Since launching in 2012, the EEF has awarded more than £72 million worth of grants to 156 projects, which have gone on to raise over £500 million in private investment.

Commenting on the fund, Energy Minister Anne-Marie Trevelyan said successful projects could create “hundreds” of new jobs and kickstart “millions-of-pounds-worth” of private sector investment.

“The UK is famous for its strong entrepreneurial spirit. We want to unleash this talent to drive forward green technologies across the UK, helping the public and businesses cut their carbon footprint,” she said.

“The Energy Entrepreneurs Fund is backing the UK’s next generation of inventors and innovators to turn their ideas into reality, with previous successful projects already helping drive down emissions across the country and creating green jobs as we work to build back greener.”

The deadline to register your interest in this scheme is midday on 26 February, while applications must be submitted by 30 March 2021.

For commercial support, including advice on mergers, acquisitions, investment, and corporate finance, please get in touch with Maung Aye at Mackrell.Solicitors today on  +44 (0) 20 7240 0521 or at maung.aye@mackrell.com

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Maung Aye
Maung is a partner in our Corporate and Commercial department. He joined Mackrell.Solicitors following corporate law positions in London and in a leading regional firm in Essex. Maung read European Legal Studies at Lancaster University and the Università degli Studi di Trento and is a fluent Italian speaker.