The Energy Innovation Centre brings together electricty distribution network operators (DNOs) and companies with ideas that could help them in the transition from the old wires business to the new, smarter grid structure.
Innovators can approach the EIC with ideas and those that could benefit DNOs will be put forward for funding. Electricity North West, Northern Power Grid, Scottish Power Energy Networks, SSE and UK Power Networks will pick technologies they see as potential winners and work with the companies to test and develop them.
“Whether a new or early stage idea or an existing technology from another industry, we are looking for products that will help manage demand and encourage more efficient use of energy,” said EIC director Denise Massey.
By next year the EIC aims to create 30 new companies. The £29.2 million will come from Ofgem’s Innovation Funding Incentive scheme and the Low Carbon Networks Fund.
See www.energyinnovationcentre.com
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UPDATE: 07/02/12 Ofgem wishes to make clear that the funding has not been given to the EIC, but is available. This article originally stated that the regulator had already given the funds to the EIC.