Energy Innovation Centre has announced it will be backed by major energy industry company to become a company limited by guarantee (CLG)and a legal entity in its own right.
The centre, based in Capenhurst, Cheshire, has been affiliated with EA Technology since it was set up as a joint NWDA / ERDF funded project in 2008.
Northern Power Grid, Electricity North West, Scottish & Southern Energy, Scottish Power Energy Networks and UK Power Networks are all backing the move to CLG status which means the centre will be able to continue to provide access to new technology for their networks and extend the support services available.
This news follows the recent announcement of a £29.2m funding pot available from Ofgem’s Innovation Funding Incentive scheme and the £500m Low Carbon Network Fund. (LCNF).
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.
Director of the centre, Denise Massey, said: “Becoming a CLG will see no change to the centre’s operation or its objectives.
“We will continue to accelerate bright ideas for the energy industry to market, especially in light of the Government’s commitment to a low carbon future.
“The centre’s success has proved the model has a strong place in the energy innovation marketplace and is testament to EA Technology’s vision back in 2008.
“Since our launch in 2008, EIC has worked with more than 100 SME’s and has created 64 business opportunities with six companies securing a total of £20m in funding.”
Mark Mathieson, managing director of networks at Scottish and Southern Energy said: “Over the last four years the Energy Innovation Centre has proven the model that our Innovation funding can be invested wisely in early stage ideas and to great effect.
“The EIC is developing a model of best practice, accelerating early stage businesses to market and for this reason, for us, the CLG structure is sustainable and now has an increasingly strong role to play for the energy networks generally.”