Deciding to take an entrepreneurial route can be a difficult process, with financing ideas being a major concern. Therefore, recognising funding opportunities can help to get the ball rolling.

In a bid to decrease the UK’s reliance on finite energy sources and the vulnerability to volatile fuel prices, a scheme promoting clean technology has received more funding, which businesses in the energy sector may benefit from.

What is the Energy Entrepreneurs Fund?

The Energy Entrepreneurs Fund (EEF), which has been operating since 2012, provides entrepreneurs in the energy sector with the chance to innovate the way that energy in the UK is produced.

With sustainability goals in mind, the competitive Government initiative aims to promote the use of clean technology across the UK.

After operating since 2021, this ninth round of the programme brings an additional £10 million in funding to the table – on top of the £102 million in grants that have been provided over the years.

Who can apply?

In order to submit an application for the Energy Entrepreneurs Fund, proposed projects must be at technology readiness levels (TRL) of between 3 – 8.

There are broad guidelines for projects to be eligible, but they should have a clear outline of how its completion would contribute to achieving Net Zero targets.

It should also relate to at least one of the following:

  • Energy efficiency
  • Power generation
  • Heat generation
  • Energy storage
  • Greenhouse gas emissions reduction
  • Security of UK energy supply

Find out more about the funding programme here.

Why is securing funding important?

In some cases, the business idea may be brilliant, however the required funds may not be available to actualise these dreams.

For this reason, seeking advice on raising finance can be invaluable for entrepreneurs.

There are many options out there such as:

  • Government funding
  • Bank loans
  • Venture capital investors
  • Angel investors

If you require support with sourcing relevant funding opportunities, contact our experts today.

Posted in Blog.