A renewable energy company is to receive a £40,000 grant from one of the Nottingham Growth Plan’s main funding programmes, which, since it was launched in April 2013, has supported businesses to create and safeguard more than 1,500 jobs in the city.
The company, SHARC Energy Systems, specialises in unique waste water sewage heat recovery systems that deliver sustainable energy to commercial and multi-occupancy buildings.
Nottingham Growth Plan and its “Growing Nottingham” campaign is the City’s business-led economic strategy, aimed at developing a highly skilled science and technology based low-carbon economy by 2020.
Measures introduced as part of the Growing Nottingham campaign have played a key role in encouraging new business formation through various finance and support packages.
The Nottingham Technology Grant Fund (N’Tech) programme – is a key element of Growing Nottingham and is delivered by Nottingham City Council.
The N’Tech fund has so far had 56 successful applications across the digital content, life sciences and clean technology sectors and awarded grants to the value £6.6m with 1,573 jobs created and safeguarded across Greater Nottingham.
SHARC managing director Russ Burton commented: “The SHARC Energy System uses what is usually a building’s waste by taking the raw sewage, treating and cleaning it, then using it to create a highly cost-effective alternative heat source. It incorporates the very latest in smart technology and heat recovery engineering to provide a system that is reliable, affordable and almost maintenance-free, and presents a massive opportunity to save energy that would otherwise simply go down the drain.”
N’Tech grants are funded solely through the government’s Regional Growth Fund (RGF).
Nottingham City Council secured RGF from the government for grants to help fast track development of businesses based in the city.
The funding can provide grants of £20,000 to £1m per successful company to support growth and expansion.