Samad Power is pleased to announce that it has been awarded the Energy Entrepreneurs Fund from the Department of Energy and Climate Change. The company is receiving £800,000 grant (£1,125,275 total project cost) to be spent as part of the cost to certify its innovative micro turbine CHP boiler followed by a field trial in 2015.
The objective of the Energy Entrepreneurs Fund (EEF) is to support, through capital grants, the development and demonstration of innovative technologies and/or processes in the areas of energy efficiency, power generation and energy storage.
The scheme seeks the best ideas, which satisfy the following criteria:
- Significant positive impact on 2020 and 2050 low carbon targets or security of supply
- Technically viable innovation accompanied by a coherent development plan that will commercially progress the innovation
- Best value for money
Samad Power is also eligible to enjoy the incubation support this scheme provides. Specialist advisers from DECC will work with Samad Power to prepare commercial plans and actions that will increase the chance of successfully bringing the innovation to market or reduce the time to market.