- 12 start-ups with ground-breaking clean energy solutions to receive up to £100,000 funding
- Emerging innovations cover low-carbon hydrogen, alternative fuels, carbon capture and storage, renewable power, decarbonised industrial heat and digital solutions
- ConocoPhillips joins bp, Equinor and ADNOC as a programme sponsor
The Net Zero Technology Centre (NZTC) has announced its 2024 TechX start-up cohort. The TechX Clean Energy Accelerator, now in its sixth year, will welcome 12 high potential start-ups to the programme which commences in February.
Each start-up will receive up to £100,000 in funding and access to NZTC’s network of mentors, investors, and sponsors, including bp, Equinor, ADNOC and ConocoPhillips, the latter of which joined the programme this year. Start-ups will also benefit from industry support opportunities including field trials.
The programme leverages entrepreneurial ingenuity to discover and propel critical technologies required for the energy transition. Following 15 weeks of investor readiness training, refining business models, business storytelling and more, the programme will culminate in a Demo Day in June 2024. This will provide the start-ups with an opportunity to showcase their solutions to industry and investors, with potential to win further funding.
Following graduation from the programme, TechX also provides two additional years of growth support, and continued access to NZTC’s network and co-working facilities.
The selected start-ups are:
- 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
To date, 57 start-ups have been supported through the programme. The alumni have collectively generated £32M in revenue, and created 443 new jobs. With seven commercialisations already achieved, TechX alumni companies are demonstrating steady growth, and are forecast to enable 20-25 million tonnes of greenhouse gas emissions savings per year by 2030.
Chief Acceleration Officer & TechX Director Mark Anderson, said: '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.'
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.
'The UK Government is investing £90 million in the Net Zero Technology Centre and more than £2.9 billion to level up right across Scotland.'
Scottish Government Small Business, Innovation, Tourism and Trade Minister Richard Lochhead, said: 'This programme has a track record of success in supporting the development of innovative clean energy start ups.
'I look forward to learning about the progress of fledgling businesses joining the TechX programme this year, with Scottish Government support through our £90 million Aberdeen City Region Deal investment in the NZTC.
'Scotland can become one of the world’s most innovative small nations and drive entrepreneurship and a fair, green and growing economy.'
Source: NZTC
