Innovatium, a leading Scottish low carbon technology company, has been awarded a grant under Phase 9 of the Energy Entrepreneurs Fund (EEF)
Launched by BEIS (now restructured to the new Department for Energy Security & Net Zero), the EEF is one of the Government’s flagship programmes for energy sector SMEs. The objective of the fund is to offer support through capital grants, the development and demonstration of innovative technologies and/or processes in the areas of energy efficiency, power generation, heat generation, energy storage, reducing greenhouse gas emissions and security of supply.
Phase 9 of the EEF makes £10m in grant funding available – of which, Innovatium has been allocated £360K.
Glasgow-based Innovatium develops technology solutions to meet the challenges of industrial decarbonisation, energy security and energy resilience. Its ‘game changing’ PRISMA Liquid Air Battery technology stores energy in liquid air form to provide compressed air, allowing inefficient partially loaded, variable-demand compressors to be turned off. Such is its impact, data shows that PRISMA can deliver up to 25% energy savings as well as hours of back-up energy storage.