Cleantech welcomes £270 million Industrial Strategy Challenge Fund

Cleantech Innovate, which showcases the very best in clean, green, low-carbon technology, is due to take place at the Royal Institution in London on 27th April 2017. In its 5th year running, 36 handpicked presenting companies seeking funding, partnerships, publicity or support in developing their ideas will pitch and connect to a 300+ strong audience consisting of active funders, corporates, support agencies and media.

The Department of Business, Energy and Industrial Strategy (BEIS) has joined Climate KIC, Greenbackers Investment Capital, Marks & Clerk, and Granted Consultancy in extending its support to Cleantech Innovate 2017, and a BEIS representative will be speaking at the event.

Keynote addresses will be delivered by Chris Huhne, former UK Secretary of State for Energy and Climate Change and co-chair of ET Index Research, and Chris Holmes, Managing Director and Head of Waste and Bioenergy at the Green Investment Bank. The full agenda for the event can be found here.

Commenting on the announcement of the Industrial Strategy Challenge Fund, Dr Tom Mitchell, Director at Climate KIC UK and Ireland, who are sponsoring the event, said: "Avoiding catastrophic climate change is only possible if we innovate quickly – by developing new low-carbon technologies and by changing the way we live and work. Funds like this are critical for stimulating action and for reversing the recent global decline in public R&D budgets for cleantech.”

Tevva Motors, one of the presenting companies at Cleantech Innovate 2017, said: "This announcement can only be a good thing. As a UK-based tech manufacturing company we are delighted to see Government extending support for UK technical expertise. Our focus is on making electric trucks the norm rather than the exception using batteries developed and produced in-house so we’re especially pleased to see the focus on batteries. Better batteries mean more payload, more range and hopefully lower cost.”

Cleantech investor Robert Hokin, Chief Executive & Managing Partner of Greenbackers Investment Capital Limited, who are sponsoring the event, called for similar support across the low-carbon tech landscape: "Low-carbon transportation and marine-based renewables are evolving quickly and represent an emissions-free 'gold-rush’ opportunity to displace fossil-fuel-based legacy systems. The UK can be a leader in these technologies; however, access to innovation and development funding which help to turn the science into viable businesses is a significant challenge. As follow-on funders for growing green companies, we encourage the Government’s support in these critical areas.”