The programme will provide mentorship, expert technology development guidance, commercial support and access to an extensive industry network. Backed by its global Strategic Partners - bp, Equinor and ADNOC - the programme presents unique opportunities for participating start-ups to refine their business models and investor propositions, find potential field trials, raise additional funding and more.
To achieve net zero emissions by 2050 it is estimated that, relative to baseline trends, almost half of the emissions savings needed in 2050 to reach net zero emissions rely on technologies that are not yet commercially available. Disruptive start-ups who bring these nascent technologies to market will play an essential role in expanding energy innovation. Harnessing entrepreneurial ingenuity, NZTC prepares to welcome its next cohort of pioneering companies to close the gap in net zero technologies, focussing on four core technology areas:
Renewable energy technologies, green and blue hydrogen and other clean fuels
Carbon Capture, Usage and Storage (CCUS)
Digitalisation
Oil and gas emissions reduction
The virtual accelerator is open to start-ups from across the globe who would benefit from the prospect of potentially trialling and deploying their technology within the UK continental shelf. To combat the current gender disparity in the energy industry, NZTC will continue to champion gender diversity with the aim that 50 percent of shortlisted start-ups for the fifth cohort will be led by female founders or co-founders.
The TechX Clean Energy Accelerator has an established track record of helping start-ups shine. Since the programme launched in 2018, its alumni of 45 technology start-ups have gone on to raise £33 million of additional equity funding and achieve five commercialisations. Their innovative solutions are set to save millions of tonnes of greenhouse gas emissions per year by the end of the decade, propelling carbon intensive industries towards net zero.
“It’s clear start-ups will play a key role in the journey to net zero” said Mark Anderson, TechX Director, commenting on the programme’s continued success and future prospects. “TechX offers an environment that will help early-stage companies discover their full potential, spark new ideas and grow at pace. I am delighted that applications for the next cohort of our award-winning programme are now open. This is an exciting and essential process to be undertaking; discovering the next round of trailblazing start-ups that can help us accelerate the future of clean and affordable energy.”
Nick Kendall, Investment Associate at bp ventures, added that technological innovation is crucial for decarbonising economically and efficiently, and in the creation and scaling of new clean energy businesses.
The online application process is now open for the TechX Clean Energy Accelerator, which will begin in February 2023. Applications will close on 9 October 2022, with places confirmed in December 2022.
Image: Mark Anderson, TechX Director, at the 2022 TechX Demo Day
For additional information:
