Net Zero Technology Centre: Clean Energy Start-Up Accelerator opens for applications

Applications for the Net Zero Technology Centre’s latest clean tech accelerator programme are now officially open, with up to £1.2m in grant funding available for start-ups working on bring nascent clean energy technologies to market.The TechX Clean Energy Accelerator, now in its fifth year, aims to distribute up to £100,000 to a dozen start-ups working on scaling renewable energy technologies, including green and blue hydrogen, carbon capture, utilisation and storage, oil and gas emission reduction projects, and digitalisation technologies.It is open to companies around the world interested in trialling and deploying their technology within the UK continental shelf.The Abu Dhabi National Oil Company (ADNOC) and European oil and gas giants BP and Equinor are the strategic partners and funders of the initiative, which provides firms with mentorship, expert technology development guidance, commercial support, and access to an industry network, according to the update.”It’s clear start-ups will play a key role in the journey to net zero,” said TechX director Mark Anderson. “TechX offers an environment that will help early-stage companies discover their full potential, spark new ideas and grow at pace. I am delighted that applications for the next cohort of our award-winning programme are now open.”The application window for the scheme is scheduled to close on 9 October, with places confirmed in December 2022, according to the update.The Net Zero Technology Centre said it would ensure that 50 per cent of shortlisted start-ups selected for its fifth cohort are led by female founders or co-founders, in a bid to tackle gender disparity in the energy industry.”Technological innovation is crucial for decarbonising economically and efficiently, and in the creation and scaling of new clean energy businesses,” said Nick Kendall, investment associate at BP Ventures. “TechX alumni have shown that participation in TechX opens doors, increasing the pace and likelihood of making a material net zero impact. I look forward to seeing the passion, energy and diversity of Cohort 5 pioneers who are ready to step up and showcase their great ideas.”The Net Zero Technology Centre noted the 45 technology start-ups that had completed the TechX programme to date had raised £33m of additional equity funding, with five now operating as profitable businesses.