The Low Carbon Seed Fund will invest in early stage UK companies which aim to develop clean or alternative energy technologies, including wind power, solar power, tidal power, fuel cells, biofuels and new materials.
The fund is comprised of a £1m investment by Imperial Innovations – funded by a grant from the Shell Foundation - and a further £1m from the Carbon Trust.
As part of the agreement, Imperial Innovations will use its expertise as a technology transfer company to select potential opportunities and prepare their investment proposals.
Investments will range between £50,000 and £250,000 and will usually be made at the seed or first stage financing rounds.
While acknowledging an overall abundance of investment in the low carbon sector, Chris West, deputy director of Shell Foundation, believes opportunities still exist.
“There is a gap in the availability of skills and capital to support innovative growth-orientated companies at seed funding stage. Shell Foundation is pleased to partner with Imperial Innovations and The Carbon Trust in an effort to fill this gap.”
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