£19m for planet saving products

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A £14 million fund to help businesses develop products and technologies to reduce carbon emissions, improve energy security and reduce costs has been launched by Government.

In a separate competition, Innovate UK is also making £5 million available to increase R&D and fund feasibility studies to reduce the environmental impact of extracting and using fossil fuels.

It will help develop technologies to take advantage of the changing energy landscape, £1 million is specifically available for feasibility studies led by small businesses.

Business Secretary Vince Cable said; “We are facing a trilemma. As well as reducing emissions and improving energy security, we need to reduce costs for energy users.

“Governments have their role to play, but we also need there to be investment by businesses in innovation to develop new products and technologies.

“We are making £14 million available to encourage that investment and make sure that companies have help to tackle this challenge.”