UK start-ups win funding to boost net-zero innovation

The Net Zero Technology Centre (NZTC) has announced the twelve start-ups selected for the 6th cohort of the TechX Clean Energy Accelerator.

NZTC, a not-for-profit organisation backed by UK and Scottish government funding, aims to drive technology innovation to accelerate the transition to net zero.

The NZTC's TechX Accelerator programme begins in February and will see each start-up receive £100,000 ($126,000) in funding.

Furthermore, start-ups will be given access to NZTC’s network of mentors, investors, and sponsors, including energy giants bp, Equinor, ADNOC and ConocoPhillips, and will be provided opportunities to conduct field trials.

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Chief acceleration officer & TechX director Mark Anderson commented in a statement: “As NZTC welcomes its sixth TechX cohort, we reiterate the pivotal role entrepreneurs will play in accelerating the energy transition.

“This year's cohort introduces compelling innovations, offering solutions to propel the adoption of clean and affordable energy. TechX start-ups are the companies of the future, poised to reshape the energy landscape and help lead us towards net zero.”

The selected start-ups include:

• Airspection: Drones designed for more reliable, more robust and safer offshore infrastructure inspection
• Apleum: Technology to convert renewable energy, carbon dioxide and water into zero carbon jet fuel
• Kali Technology: Carbon-zero industrial process heating using low cost, integrated heat pump technology
• Frontier Robotics: Platform-agnostic software and associated hardware for autonomous underwater inspections
• HyWaves: Power management control system to increase hydrogen production for dedicated solar-to-hydrogen and lowering cost
• H2CHP: Fuel-flexible power generator targeted at ports offering full control over the combustion process to operate at high efficiency with zero carbon emissions
• INERGIO Technologies: Novel system design that combines advantages of fuel cells and diesel generators for sustainable off-grid and backup power solutions
• MECHAPRES: High-temperature heat pump with embedded thermal storage for industrial heat decarbonisation, with heat and steam as a service potential
• Modjoule: Smart, battery-equipped containers for cost-effective electrification of shipping vessels
• Reaforma: Leveraging construction waste for secure carbon capture and storage in a novel carbon-negative composite
• Soltropy: Novel solar thermal technology for buildings that harvests carbon neutral heat all year round
• SurreyH2: Lower cost green hydrogen production technology using a recirculating catalyst, with intrinsic hydrogen storage capability

The programme includes 15 weeks of investor readiness training, concluding with a Demo Day in June 2024. This will provide the start-ups with an opportunity to showcase their solutions and potentially win further funding.

Following graduation from the programme, TechX provides two additional years of growth support, and continued access to NZTC’s network and facilities.

Thus far, 57 start-ups have been supported through the programme, with alumni having collectively generated £32 million ($40 million) in revenue.

UK Government Minister for Scotland Malcolm Offord, said: “Congratulations to those selected for the TechX Clean Energy Accelerator programme. Start-up companies play a fundamental role in driving innovation in the energy sector, supporting sustainable economic growth, and delivering solutions to the environmental issues we all face today."

To date, the Centre has co-invested £275 million ($345 million) in technologies which, according to NZTC, have the potential to generate £10-15 billion ($13-$19 billion) in gross value added to the Scottish economy.

Furthermore, the Centre has screened over 2540+ technologies, completed or progressed 175 field trials and commercialised 35 technologies.