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The Carbon Trust has announced the creation of a new commercial subsidiary to develop low-carbon technology ventures, particularly in the food and drink sectors.

The government-backed organisation claimed the new division, called Carbon Trust Enterprises (CTE), will help its twin aims of reducing pollution and showing that low-emissions innovations can be good for business.

The first new business developed by CTE will be Connective Energy (CE), a three-way venture with Mitsui Babcock Energy and Triodos Renewables, a finance group specialising in environmental technologies.

According to The Carbon Trust, 45 per cent of the UK's industrial primary energy consumption is currently wasted as heat released into the environment. It estimates that 40TWh of this wasted heat could be re-used - the equivalent of the heating needs of Greater Manchester, representing a core market potential up to £1bn a year in the UK and an annual carbon saving potential of 7.5 million CO₂ tonnes.