European partnership targets new low-carbon technologies

Open to all European businesses, the initial 18-month phase of the partnership includes a $5m (£3.1m) business incubation fund targeted at low-carbon infrastructure technologies.  

Mark Maguire, corporate communications director of GE UK, told The Engineer that the funding is being provided by GE — adding that the outlay is part of the wider $200m (£125.5m) investment launched during 2010’s ‘ecomagination’ challenge that seeks to fund promising clean-tech technology.

‘Initially GE and the Carbon Trust will be seeking interesting start-ups that have real potential, rather than soliciting applications,’ said Maguire. ‘The Carbon Trust will assess start-ups to identify those with real growth potential, which will be short-listed and contacted.’

Maguire said eligible businesses will need to be developing technologies that improve the efficiency or utilisation of natural resources across the entire lifecycle, particularly around energy and efficient utilisation of energy in infrastructure.

‘Examples include smart grids, lighting systems, heating of buildings and ventilation technologies,’ he said.