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Shell to support low carbon tech companies with £350k funding

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Written by Mark Lammey – 26/09/2016 4:30 am

Shell will fork out £350,000 this year to support pioneering UK companies which develop low carbon technology.

The Shell Springboard scheme will hand £150,000 to a national champion and £40,000 each to five regional winners.

The victors will also get advice from academics, investors and policy makers, as well as access to Shell exhibitions and workshops.

The application period closes on October 28 and the winners will be announced in spring 2017.

The initiative has paid out more than £3.5million to 92 enterprises since its launch in 2005.

Shell posted revenues of $265million in 2015.

Shell said almost 80% of those companies remained in operation five years after starting-up.

Shell UK country chairwoman Sinead Lynch said: “The UK has tremendous potential to lead low-carbon innovation.  In fact, our research with Imperial College London shows that UK universities are some of the strongest globally in spinning out low-carbon start-ups.

“I am proud of the role that Shell Springboard plays in helping these start-ups to grow and in supporting the UK’s green economy. I look forward to what promises to be another inspiring year in low-carbon innovation.”

Professor Chris Rayner, founder of C-Capture and a former Shell Springboard funding winner, said: “Winning Shell Springboard provided a huge morale boost to the C-Capture team. The award helped enhance our profile and credibility as we move through to full commercialisation of our technology.”

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