EIC announces access to £29.2m funding
The Energy Innovation Centre (EIC) has revealed access to £29.2m of funding for innovators and companies looking to bring new ideas for tomorrow’s energy industry to market.
Available from this month, the funding can be accessed via the Energy Innovation Centre and investments will be selected by five of the UK’s leading electricity distribution companies; Electricity North West, Northern Power Grid, ScottishPower Energy Networks, Scottish and Southern Energy and UK Power Networks.
These major players are looking to implement new services and technologies to enhance the way power is transported, monitored and stored.
The funding available originates from Ofgem’s Innovation Funding Incentive scheme and the £500m Low Carbon Networks (LCN) Fund.
Denise Massey, Director of the Energy Innovation Centre said: “This is another huge step forward for innovators and businesses that need to accelerate their ideas to market. As part of this initiative, we will continue to deliver a range of support services, including opportunities to test technologies on high and low voltage power networks and establish relationships with potential customers. This is an opportunity for the UK to further develop the way energy is distributed whether this is a new or early stage idea or an existing technology from another industry which will improve the energy supply process. We are looking for products that will help manage demand, and encourage more efficient use of energy in the home and workplace.”
The UK power industries operate power networks with a replacement value of £150 billion and invest £1.5 billion per annum on maintaining and growing their 500,000 miles of cable which deliver electricity to homes. The flows of energy will be completely different to what we’re used to, which is single flow from a centralised generation to homes, to now a more localised generation.
Mark Mathieson, Managing Director of networks at Scottish and Southern Energy, discussed some of the issues surrounding constraints in the power networks. “The low carbon agenda will change the way we buy and procure energy from the model we’re used to. Not a lot has changed since the 1930s but we as we move towards the likes of wind generation, electric cars, and PV systems, we’re looking at a more intermittent and complex mix of energy generation and use. The flows of energy will be completely different to what we’re used to and we need to manage the new constraints. Fault detection and resolution will also become increasingly complex. Energy companies want to avoid digging up the UK’s footpaths to lay bigger cables to accommodate the increased demand so we’re turning to innovation to help us look at new ways of tackling this. The Energy Innovation Centre plays a vital role in allowing people and businesses with good ideas to quickly interact with the industry.”
Since its launch in 2008, the Cheshire-based Energy Innovation Centre has provided business support to over 140 SMEs, start-ups and inventors from the UK and internationally. The Centre offers a range of services including product development, funding assistance, business support and access to power experts, and is committed to turning energy saving ideas into commercial reality.
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