Clean energy startup accelerator opens applications
The Net Zero Technology Centre (NZTC) has opened applications for the 2024 cohort of its award-winning TechX Accelerator programme. Clean energy startups from around the world can now apply for a place on the programme and a share of the £1.2 million grant funding available (up to £100,000 for each startup).
Backed by its strategic partners, bp, Equinor Ventures and ADNOC, the programme will accelerate the growth of the selected companies by providing access to expert mentors, technology development guidance and commercial support. Participants will be exposed to an extensive industry network with opportunities for potential field trials and further investment.
In its mission to develop and deploy technology for a net zero energy industry, NZTC is galvanising entrepreneurial ingenuity to discover untapped talent and solutions. This year the accelerator welcomes applications from companies across the globe specialising in technologies in the following areas:
- Carbon capture utilisation and storage (CCUS)
- Low carbon hydrogen
- Alternative fuels and green chemicals
- Renewable power
- Digital solutions
- Decarbonised industrial heat and cooling
Now in its sixth year, TechX has accelerated 57 technology startups to date who have collectively gone on to generate over £10M in annual revenue and achieve eight commercialisations. From wave energy converters for offshore renewable power, to superconducting hydrogen motors to decarbonising aviation, TechX is propelling a clean energy technology ecosystem to help drive the transition to net zero.
Mark Anderson, Chief Acceleration Officer & TechX Director said: “Startups stand poised as instrumental drivers in our journey towards achieving net zero. Our TechX Accelerator provides an environment where fledgling companies can unlock their full potential, spark novel concepts, and grow at an accelerated pace. I look forward to welcoming our next round of pioneering companies, who will help NZTC unearth transformational technologies to enable clean and affordable energy.”
Scottish Government Wellbeing Economy Secretary Neil Gray said: “The TechX Clean Energy Accelerator offers a great opportunity for entrepreneurs to develop innovative ideas which will help Scotland make a just transition to net zero.
“Supporting the growth of the clean energy sector is a priority for this government. That is why we support the TechX programme as part of our £90 million investment in the Net Zero Technology Centre through the Aberdeen City Region Deal.”
UK Government Minister for Scotland Malcolm Offord said: "Startup companies play a fundamental role in driving innovation in the energy sector. The TechX Accelerator is a fantastic programme to help these companies in that delivery, and I encourage any startup thinking of applying to put in an application.
"The UK Government is investing £90 million in the Net Zero Technology Centre to support sustainable economic growth in North East Scotland, and more than £2.4 billion to level up right across Scotland."
The application deadline for TechX’s next cohort is 1 October 2023, with the accelerator set to begin in February 2024. TechX receives funding from both the Scottish and UK Governments as part of the Aberdeen City Region Deal investment.