UK energy market regulator Ofgem officially launched the Strategic Innovation Fund (SIF) on August 31, presenting a new opportunity for innovators to apply for funding to help shape our future energy system.


The fund will look to invest £450m in energy innovation over the next five years (2021 - 2026), and aims to support innovative, ambitious projects which will help accelerate the transition to Net Zero. 


Ofgem, with the support of Innovate UK, part of UK Research and Innovation (UKRI) as its delivery partner, has identified four Innovation Challenge areas following extensive stakeholder engagement and consultation with industry throughout 2021. The four challenge areas identified are:


Whole system integration

Data and digitalisation

Zero emission transport

Heat


“The SIF presents a great opportunity for innovative businesses and leading academics to work with the UK energy networks to deliver greater benefits to consumers, including reduced energy costs, a reduction in CO2, greater access to energy markets and the opportunity to develop new products, processes, and services”, says Matt Hastings, Deputy Director (UKRI).


The EIC will work closely with its innovation community to help develop funding proposals, facilitating relationships between innovators and the industry, to ensure innovators can work with experts to develop compelling submissions.


“This is a new opportunity, created by Ofgem for global innovators and the UK energy networks to  solve the challenges we face as we move toward a zero carbon future. In order to achieve this goal, it is incumbent upon us all to work together. We are calling out to our innovator community and beyond to take action and work with us and our Industry Partners, to create a strong pipeline of compelling projects to address our net zero challenge”, comments Denise Massey, Managing Director, Energy Innovation Centre (EIC).


Find out more:


EIC Operations Director, Matthieu Michel, will be speaking at the UKRI’s launch event on 7th September to further discuss the EIC’s role in this. To register to attend the event, please click here.


To learn more about the four Innovation Challenges and to submit a proposal, click here.


To find out more about the Strategic Innovation Fund, click here or contact a member of our team at enquiries@ukeic.com.


The window to apply for funding under the first four Innovation Challenges will close on 17th November 2021.


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Achieving net zero targets is one of the biggest challenges facing the energy and utilities industry, but by innovating together we can drive change and deliver a decarbonised future. Our industry partners are always looking for innovative new solutions to the challenges they face, including net zero, which is why we provide a platform where innovators like you can respond to the latest innovation opportunities and challenges, and submit your innovative ideas. Our expert team have an extensive knowledge base, allowing us to consistently help our partners to address challenges, and to support our innovation community. This enables innovators and industry to come together and build a strong innovation culture and streamline innovation processes.