Energy investments top £3.9m for EIC
THE Energy Innovation Centre (EIC) has revealed record energy investments of £3.9m in 2014/15, bringing the total value of deals facilitated by EIC since 2008 up to £12.5m.
The value of 2014/15 investments represents an increase of £600,000 on the £3.3m total recorded in the previous financial year. 2014/15 also saw a 50% increase in the number of new projects sourced and supported by Ellesmere Port-headquartered EIC.
An increasing appetite for innovation among the energy networks, the quality of new technologies and products sourced by EIC and the innovation stimulus provided by regulator Ofgem have all contributed to the positive performance.
EIC is a partnership between the UK’s electricity operators, known as distribution network operators, gas distribution networks as well as the Offshore Renewable Energy Catapult. Together they aim to discover innovative projects and solutions from the UK and around the world to transform today’s power landscape, working towards a low carbon future and providing value for money for energy consumers.
Over the last 12 months the EIC has proactively expanded its international innovator community network by exploring opportunities in countries that include Israel, Turkey, Japan and the USA. This has started to provide the EIC with access to a global pool of innovations and the opportunity to share learning with some of the world’s leading energy companies.
Denise Massey, managing director of the Energy Innovation Centre, said: “EIC is currently supporting more small businesses than ever before and the £3.9 million that has been invested this year proves that the energy sector is embracing the need for innovation.”
