Up to 30 UK firms are to share millions of pounds of funding as part of a government plan designed to make low carbon energy technologies more commercial and accessible.
The Department of Energy and Climate Change (DECC) has announced that it has awarded a total of £16 million in the first phase of its £35 million energy Entrepreneurs Funds (EEF).
According to the government, this initiative has been set up to develop low carbon technologies that can be used for buildings, power generation and energy storage.
One of the winning bidders of the funding is new start-up Concurrent Thinking, which has come up with a system management software which it is believed could drastically cut the carbon footprint of the ICT sector.
British manufacturer Kensa has also secured some of the cash thanks to its innovative ground source heat pump, as has Passiv Systems, which is a developer of home energy automation systems.
Energy and Climate Change minister Greg Barker commented: "This new investment will give these organisations the boost they need to drive forward the development of a range of innovative low carbon designs, helping cut costs and bring new technologies to market in this sector.”
He added that innovation is “vital” if the UK wishes to move towards a low carbon economy.
The EEF was originally announced in 2012, and comes from the £200 million fund which was given to the DECC to promote innovation as part of the 2010 Spending Review.
The DECC also announced that 16 organisations have been granted a share of £2 million under the first phase of energy storage competitions, while a further £3 million has been given out to entrepreneurs for the conducting of feasibility studies.
Phase one of the project saw £10 million directed towards energy efficient technologies, while a further £6 million was used up targeting power generation and energy storage technologies.