Tees chosen as home for £15m Net Zero grants initiative

The Tees region has been chosen as one of just two locations in the country to host a new initiative aimed at encouraging fresh ideas for the energy and renewable sector.

An initial £15m investment has been made available to support businesses that take up the challenge.

The scheme, part of UK Research and Innovation’s Innovate UK’s Launchpad will invite small and medium enterprises (SMEs) to apply for competitive grants starting at £15,000.

Grant funding of up to £1m is available for projects that provide exceptional impact to the cluster of SMEs.

Successful applicants will receive wrap-around support from local and national organisations, with innovation funding and support available in areas such as hydrogen, carbon capture, utilisation and storage (CCUS), offshore engineering, materials and processing, and circular economy.

The new launchpad funding will build on innovation clusters that have significant growth potential and the potential to deliver jobs, growth, and higher productivity, supporting the Government’s Levelling Up agenda.

Innovate UK CEO Indro Mukerjee said: “Innovate UK has been building strong regional partnerships across the UK to support local innovation and commercialisation.

“The launch of the Tees Valley launchpad is an important step and another example of active collaboration with regional partners to deliver growth and productivity through innovation.”