The Net Zero Technology Centre (NZTC) has launched applications for the fifth startup cohort of its TechX Clean Energy Accelerator.

With up to £100,000 of grant funding available for 12 clean energy startups, the programme will help high potential companies scale up through mentorship, specialist technology development guidance, commercial support, and access to an extensive industry network.

Backed by its global Strategic Partners – bp, Equinor and ADNOC – the Clean Energy Accelerator presents opportunities for participating startups to refine their business models and investor propositions, find potential field trials, raise additional funding and more.

To achieve net zero emissions by 2050 it is estimated that, relative to baseline trends, almost half of the emissions savings needed in 2050 to reach net zero emissions rely on technologies that are not yet commercially available.

Disruptive startups that focus on technologies relating to these areas will play an essential role in expanding energy innovation. NZTC’s next cohort will be focussing on four core technology areas.

These include renewable energy technologies, green and blue hydrogen and other clean fuels, carbon capture, usage, and storage (CCUS), digitisation, as well as oil and gas emissions reduction.

The virtual accelerator is open to startups from across the globe who could benefit from the prospect of potentially trialling and deploying their technology within the UK continental shelf.

Commenting on the news, Mark Anderson, TechX Director, commented: “It’s clear startups will play a key role in the journey to net zero. TechX offers an environment that will help early-stage companies discover their full potential, spark new ideas and grow at pace.

“I am delighted that applications for the next cohort of our award-winning programme are now open. This is an exciting and essential process to be undertaking; discovering the next round of trailblazing startups that can help us accelerate the future of clean and affordable energy.”

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Nick Kendall, Investment Associate at bp ventures, added: “Technological innovation is crucial for decarbonising economically and efficiently, and in the creation and scaling of new clean energy businesses.

“TechX alumni have shown that participation in TechX opens doors, increasing the pace and likelihood of making a material net zero impact.

“I look forward to seeing the passion, energy and diversity of Cohort 5 pioneers who are ready to step up and showcase their great ideas.”

The online application process is now open for the TechX Clean Energy Accelerator, which will begin in February 2023.

Applications will close on 9 October 2022, with places confirmed in December 2022.

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