Good news for UK entrepreneurs!
£10 million share for businesses that can create innovation in energy
Gregory Barker, the minister of Energy and Climate, announced that British entrepreneurs who are into the development of innovative technology can benefit from a £10 million share.
Big-time power companies like British Gas and engineering firms like Unaoil-associate Severn Glocon cannot participate in the funding. The bid is only open for small and medium enterprises that are involved in doing power generation, energy efficiency, building technology, and energy storage. Companies may apply for funding up to £2million.
Preference will be given to projects that are able to reduce the costs of energy bills and harmful wastes caused by carbon emissions. In addition, those who will be granted funds will be able to receive exclusive advice from industry experts on how to market their products properly to potential customers.
Hopefully, businesses that are involved in using wood fuel will be able to get a grant. Wood is a great source of energy that is not intermittent compared to solar and wind turbines. When the sun stops shining and wind becomes stale, people turn to wood pellets or wood chips for energy. Investing in wood fuel technology is also safe since it adheres to the terms and requirements of environmental standards.
Wood fuel is the most popular renewable fuel used in Europe. In Finland and Poland, around 80% of wood fuel is used to power facilities.
For more information about the funding, visit gov.uk. Applicants who are requesting a fund must demonstrate how they are planning to develop their technology.