NZTC To Offer £1.2M funding To 12 Low-Carbon Tech Start-ups

July 13, 2023: The Net Zero Technology Centre (NZTC) is offering clean energy start-ups worldwide the opportunity to join its TechX Accelerator program's 2024 cohort and compete for a share of the generous £1.2M grant funding, with each start-up eligible for up to £100,000.

Supported by esteemed partners bp, Equinor Ventures, and ADNOC, the program is dedicated to propelling selected companies' growth by offering invaluable resources like expert mentors, technology development guidance, and commercial assistance. Moreover, participants will gain access to an extensive industry network, opening doors to potential field trials and additional investment opportunities.

NZTC is committed to fostering innovation in pursuit of a net zero energy industry and aims to discover untapped talent and solutions. This year, the accelerator is welcoming applications from global companies specialising in diverse areas such as Carbon capture utilisation and storage (CCUS), Low carbon hydrogen, Alternative fuels and green chemicals, Renewable power, Digital solutions, and Decarbonised industrial heat and cooling.

In its sixth year of operation, TechX has successfully fast-tracked 57 technology start-ups, collectively yielding more than £10M in annual revenue and accomplishing eight commercialisations. TechX is leading the way in advancing a clean energy technology ecosystem, supporting innovations like wave energy converters for offshore renewable power and superconducting hydrogen motors to decarbonise aviation. With these efforts, TechX is actively contributing to the drive towards a net-zero future.

In the company’s official press release, UK Government Minister for Scotland, Malcolm Offord said, “Start-up companies play a fundamental role in driving innovation in the energy sector. The TechX Accelerator is a fantastic programme to help these companies in that delivery, and I encourage any start-up thinking of applying to put in an application. He further added, “The UK Government is investing £90 million in the Net Zero Technology Centre to support sustainable economic growth in North East Scotland, and more than £2.4 billion to level up right across Scotland.”

Mark Anderson, Chief Acceleration Officer & TechX Director also said, “Start-ups stand poised as instrumental drivers in our journey towards achieving net zero. Our TechX Accelerator provides an environment where fledgling companies can unlock their full potential, spark novel concepts, and grow at an accelerated pace. I look forward to welcoming our next round of pioneering companies, who will help NZTC unearth transformational technologies to enable clean and affordable energy.”

This significant investment will undoubtedly bolster the growth of these eco-conscious ventures and inspire other organisations to follow suit in their pursuit of a more sustainable and eco-friendly world. As the low-carbon technology sector gains momentum, NZTC's visionary initiative stands as an example of corporate responsibility and a catalyst for positive change in the global fight against climate change.