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Financial Times: New energy body in need of funds

By Ed Crooks
Published: September 21 2007 03:00 | Last updated: September 21 2007 03:00

The new Energy Technologies Institute, a public-private partnership for research into energy sources, will be based in the Midlands, the government said yesterday, after a consortium at Loughborough University won the right to host it.

David Clarke, the head of technology strategy at Rolls-Royce, is to be the institute’s chief executive. Six companies – BP, Royal Dutch Shell, EDF Energy, Eon, Rolls-Royce and Caterpillar – are backing the ETI, promising £5m a year each for ten years.

However, the institute has yet to secure all the private sector funding it is seeking, though it was first proposed by Gordon Brown 18 months ago. The government has pledged up to £550m over ten years, and wants the private sector to contribute the same, but is £250m short.

The ETI is being established amidst concern that Britain is in danger of being left behind in the development of technologies for energy with low carbon dioxide emissions.

Ed Crooks

Copyright The Financial Times Limited 2007

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