Clean energy start-up accelerator opens with £1.2m grant available

The Net Zero Technology Centre (NZTC) has today [13 July] opened applications for the 2024 cohort of its award-winning TechX Accelerator programme. Clean energy start-ups from around the world can now apply for a place on the programme and a share of the £1.2m grant funding available (up to £100,000 for each start-up).

Backed by its strategic partners, bp, Equinor Ventures and ADNOC, the programme will accelerate the growth of the selected companies by providing access to expert mentors, technology development guidance and commercial support. Participants will be exposed to an extensive industry network with opportunities for potential field trials and further investment.

Now in its sixth year, TechX has accelerated 57 technology start-ups to date who have collectively gone on to generate over £10m in annual revenue and achieve eight commercialisations. From wave energy converters for offshore renewable power, to superconducting hydrogen motors to decarbonising aviation, TechX is propelling a clean energy technology ecosystem to help drive the transition to net zero.

Mark Anderson, chief acceleration officer & TechX director 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.”

Scottish Government wellbeing economy secretary Neil Gray said: “The TechX Clean Energy Accelerator offers a great opportunity for entrepreneurs to develop innovative ideas which will help Scotland make a just transition to net zero. Supporting the growth of the clean energy sector is a priority for this government.

“That is why we support the TechX programme as part of our £90m investment in the Net Zero Technology Centre through the Aberdeen City Region Deal.”

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.

“The UK Government is investing £90m in the Net Zero Technology Centre to support sustainable economic growth in North East Scotland, and more than £2.4bn to level up right across Scotland.”

By Mark Adair – Correspondent, Bdaily

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