Technology transfer company Imperial Innovations has announced a new £2m fund to invest in early stage UK companies which aim to develop clean or alternative energy technologies.
The Low Carbon Seed Fund was established through £1m from Imperial Innovations that was funded by a grant from Shell Foundation, and £1m from The Carbon Trust. It will support developments in technologies including wind power, solar power, tidal power, fuel cells, biofuels and new materials.
As part of the agreement, Imperial Innovations will select potential opportunities that will fulfil the fund’s investment criteria and will prepare investment proposals for the fund’s selection. Investments will range between £50,000 and £250,000 and will usually be made at the seed or first stage financing rounds.
Susan Searle, CEO of Imperial Innovations, said, ‘The launch of The Low Carbon Seed Fund is a very exciting opportunity for companies in the Imperial Innovations spin-out portfolio and the wider renewable energy sector that are seeking investment. We are delighted to work with two such highly regarded organisations and look forward to managing the pipeline of investment propositions.’