Innovate UK Business Connect’s Post

Discover the exciting new direction for UK businesses in our latest blog: 💡 Labour's ambitious plans to support startups and scale-ups, aiming to make the UK a top destination for new businesses. 🔋 Introduction of the National Wealth Fund and Great British Energy, driving investment in critical industries and renewable energy. ⚡ Enhanced support for university spin-outs and the tech sector, focusing on innovation, talent, and improved procurement processes. Find out more by reading the article in full here: https://hubs.la/Q02J2CKv0

EIT InnoEnergy launches initiative to boost battery value chain funding. EIT InnoEnergy has launched the ‘One-Stop-Shop to EU Finance’ programme to improve access to public funding across the battery value chain. In a concerted effort to tackle the challenges associated with securing public funding for Europe’s strategic battery sector, EIT InnoEnergy has partnered with European Commission Vice President Maroš Šefčovič to introduce the groundbreaking service. The initiative, developed under the European Battery Alliance (EBA) framework and unveiled at COP28, is poised to revolutionise how small and medium-sized enterprises (SMEs) navigate the complex landscape of public financing within the battery value chain. https://lnkd.in/eR7QZ-yz #batteries #batterytechnology #eit #batterysupplychain #europe #europeancommission

EIT InnoEnergy Launches ‘One-Stop-Shop’ to Boost EU Public Funding Access for Battery Sector - https://lnkd.in/dPUnipvB Average reading time for this story is 1 minutesEIT InnoEnergy has launched a pivotal initiative under the European Battery Alliance (EBA) titled ‘One-Stop-Shop to EU Finance’, aimed at enhancing the battery sector’s access to public funding within the European Union. This innovative program is designed to streamline the process for startups and scale-ups within the battery value chain, providing them with the necessary guidance to navigate the complex landscape of public financing more efficiently. The service has garnered support from European Commission Vice President Maroš Šefčovič, who plays a leading role in the European Battery Alliance. Recognizing the critical role […] #batterystorage #eba #eitinnoenergy #europe #finance&investment #energystorage #batteries #battery #cleanenergy #alternativeenergy #cleantech

The energy industry is the foundation of modern society.  Learn how William Lese and Braemar Energy Ventures has made pioneering investments that catalyze the creativity of a new breed of entrepreneurs who are leading the energy transition in: 👉 Mobility of the Future 👉 Power Sector Transition 👉 Resource Revolution 👉 Infra-tech 6 PM to 8 PM | June 13, 2024 | Harvard Innovation Lab: Batten Hall  REGISTRATION LINK IS IN THE COMMENTS 👇 #cleantechenergy #cleanenergy

In case you missed it, there were two significant developments in #cleantech during June. The first was the decision to transition what was Sustainable Development Technology Canada (SDTC) programs and employees to NRC's IRAP program. SDTC was a significant program ($1 billion from 2021-2026) to fund cleantech developments https://lnkd.in/eeJbRcqf The second development was the royal ascent of Bill C-59, allowing for the Clean Economy Investment Tax Credit, a program anticipated to provide $11.4 billion in support https://lnkd.in/eCwm-Dc9 The budgets of these two initiatives are impressive, but most significant is the type of funding these programs provide. Both are funding business-led/market-led research and development that have good probability for commercial success. This is funding #appliedresearch & development for problems in search of a solution. If effective, this should lead to more #innovation https://lnkd.in/e9zmD4PS

Electrified Automation has been announced as one of seven companies who will receive part of a £2.2m UK government grant from the Advanced Propulsion Centre UK aimed at electrifying Britain’s automotive sector. The investment from the APC's Automotive Transformation Fund (ATF) will help accelerate our ongoing growth and enable us to expand our product offerings with next generation Electric Drive Units (EDUs). Jim Winchester, Managing Director of Electrified Automation, said: "We are incredibly grateful to the APC for supporting our project. The funding will allow us to expand our product range and ensure compatibility with a wider range of EDU components. "This is a pivotal moment for Electrified Automation. Over the past year we've not only grown our range of IPM motors and our customer base, but also significantly increased our sales and distribution network across Europe, the US and Canada. “We now have the investment and infrastructure in place to enable us to scale up our manufacturing capabilities further still and help more customers worldwide drive their electrification journey.” APC Automotive Transformation Director, Julian Hetherington, said: “This group of projects aims to demonstrate the opportunity to build a robust UK based EV and battery supply chain, enabling the transition to clean-automotive technologies. “Automotive Transformation Fund (ATF) grants help to unlock further private investment, which accelerate the UK’s growing zero-emission vehicle sector.” Department for Business and Trade #ev #IPMMotors #UKMfG #ZeroEmissions

RECHARGE has co-signed an open letter for the continued investment in battery research and innovation under the BATT4EU Partnership.   Investment in this field will be crucial for the future competitiveness of the European #battery industry and for achieving the EU's green transition goals.     Read the full letter here 👉 https://lnkd.in/dRpcuWbq   Batteries Europe BATTERY 2030+ BEPA - Batteries European Partnership Association EUROBAT - Association of European Automotive and Industrial Battery Manufacturers Flow Batteries Europe EMIRI Eurometaux (European Metals Association) CLEPA - European Association of Automotive Suppliers EARPA- European Automotive Research Partners Association EASE - The European Association for Storage of Energy     #Batt4EU #HorizonEurope   

🔋 ⚡️ Stakeholder workshop on support for battery manufacturing under the EU Innovation Fund 🔋 ⚡️ Yesterday my colleague Víctor Martínez Guija and I went to a stakeholder workshop on instruments available (and to come!) to support battery manufacturing under the Innovation Fund, organized by CINEA - European Climate, Infrastructure and Environment Executive Agency and its Innovation Fund team. The workshop follows the recent announcement from EVP Sefcovic to set up a dedicated instrument with funding up to EUR 3 bn for the next 3 years. How interesting? Companies covering most of the value chain participated and as a grant specialist, it is crucial not only to anticipate on upcoming changes but also to listen to the market and the needs. A poll has been launched and is still accessible until the 2/05. Key takeaways : - there’s more project in the pipeline than you think, and significant part of these have not yet reached ‘start of works’ with planned entry into operation around 2026-2027 - most important challenges remain difficulties to access #financing and competition from players established in third countries - financing options under the Innovation Fund include regular grant with dedicated enveloppe, but also potential blended finance products such as combining European Investment Bank (EIB) (senior) loan with grant, or venture debt, and also auction (yes, just like for #hydrogen) - Auction would be rather complex to set up (but not impossible) and it would require some work given battery is not a uniformed good and competition is more limited in EU. Closer definition of battery type or minimum requirements would be needed to avoid ‘race to the bottom’. GWh of capacity produced could be used to make it comparable - if auction would be set up, resilience and sustainability requirements might be assessed (covering non price criteria, qualification requirements…) - really strong need to cover the whole value chain with spillover effects (be it from upstream to downstream or the other way around) - speed of the financing instrument is of essence. The survey/poll is still accessible until 2/05: https://lnkd.in/e8v9fuh7 There should be follow-up workshops coming in June. We are grateful to have had the chance to attend such a nice initiative. And btw : it was an hybrid event and numerous Deloitte practitioners across the EU could attend the event, including our dedicated grants & incentives teams. Feel free to get in touch! #impactthatmatters #funding #innovation #battery #sustainability #incentives

For our latest 🗞️ research paper, we analysed over 8,000 deals to highlight the #VC deal trends in built world climate tech across Europe and the US. So, when Freya Pratty at Sifted asked our investor Jess Clemans about the most promising European #Startups making a difference in the #BuiltEnvironment, we were well placed to comment. As highlighted in the research paper, the European energy crisis and the US Inflation Reduction Act (IRA) are continuing to drive interest in #Energy themes focused on efficiency, electrification and grid solutions. Some exciting startups in this space include: 🔋terralayr, a developer and asset manager of grid-scale #Batteries, working with companies that need #Electricity to form long-term power purchase agreements ⚡Granular Energy, a next-generation #CleanEnergy trading and management platform, offering software to manage and trade clean energy for utilities and energy industry professionals Read the article to see the full list of built environment startups to watch [link in comment] cc: VundaHaus Spruce, Perenna, CONSIGLI, Greenworkx, skoon, Thermulon, Shayp

Encavis is embarking a new chapter of development, innovation, and sustainability and I am very proud to be a part of this journey. Today, we have announced our intention to enter a strategic partnership with KKR and Viessmann marking a strategic move towards expanding and strengthening our company's foundation. Over the past years, Encavis AG has grown into one of the leading independent power producers in Europe and has strong ambitions to further continue on this growth path. With KKR and Viessmann, we will have partners on board who share the same long-term and entrepreneurial approach and extensive experience of investing in and managing energy transition businesses. We are convinced that with the additional financial and strategic support, we will be able to leverage our assets and competences and take our business to the next level to compete with the largest European players. The interest of globally leading strategic and financial partners is testament that Encavis has evolved into one of the key players and transformers in the European renewables sector - a clear demonstration of what the strong Encavis team has achieved, united by our common purpose of overcoming the climate crisis. Please find more information in the press release: https://lnkd.in/e8WRZb5m #Encavis #RenewableEnergy #EnergyTransition #Sustainability #CleanEnergy #Partnership #Teamwork