ETZ Ltd, the not-for-profit company tasked with spearheading North East Scotland’s energy transition ambition, has awarded 14 companies in the first formal round of funding from its Energy Transition Supply Chain Pathway and Challenge Fund.
The high-growth potential companies from Aberdeen City, Aberdeenshire and Moray will use the funding to take advantage of new or existing opportunities in green energy, having traditionally serviced the oil and gas market.
During a visit to AJT Engineering Ltd on Friday, Richard Lochhead MSP, the Scottish Government’s Minister for Small Business, Innovation and Trade, announced that ETZ Ltd’s Energy Transition Supply Chain Pathway and Challenge Fund, backed by the Scottish Government’s Just Transition Fund, has now supported 25 companies, with 11 receiving funding in 2022/23 through the initial pilot programme.
The grant funding of between £50k and £250k, which is matched by company contributions, has been awarded to accelerate innovation and market entry, support business growth and create new jobs in the energy transition into the low-carbon market.
The £2.567 million awarded in this round unlocked and additional £4.84 million in private sector contributions and the companies represent a range of different sectoral priorities aligned with new and green energies. A further round of funding is expected to open in the new year.
Richard Lochhead, Small Business and Innovation Minister, said: “This funding, awarded to ETZ through Scottish Government’s Just Transition Fund, will help unlock private capital investment in the region’s energy transition, support the supply chain to pursue new energy opportunities and create high quality sustainable green jobs.
“We must ensure Scotland’s move to net zero is managed fairly for workers in existing industries and across communities. Taking advantage of the oil and gas industry’s expertise and ingenuity to transition to a clean energy future will help us achieve our net zero targets and create good green jobs as well as tackle inequalities in our society.”
Freda Miller, Energy Supply Chain Programme Manager, ETZ Ltd, said: “The supply chain is the very lifeblood of our energy sector and it is vital that we provide them with the support required to capitalise on the vast opportunities that energy transition provide.
“The fund was set up to accelerate the development of new industry-related facilities, new equipment and existing infrastructure upgrades, including digital infrastructure, and to drive innovation and market entry.
“By doing this, it will support company growth and create sustainable jobs with the result that the North East achieves an accelerated and successful energy transition. The fact that this round of funding has unlocked £4.84m of private sector investment is evidence that industry is ready and willing to diversify their operations and capitalise on the race to net zero.”
Businesses which received funding in this round are:
AJ Engineering and Construction Services Ltd, Moray - £250,000 (Increasing electricity grid capacity)
Autosub Ltd, Aberdeen - £245,000 (Offshore Wind)
Cebo International, Aberdeenshire - £250,000 (Offshore Wind)
Fennex, Aberdeen - £129,967 (Offshore Wind)
Forsyths, Moray - £84,442 (Offshore Wind)
GDI, Aberdeen - £94,465 (Water/Renewables)
Glacier Energy Services Ltd, Aberdeen - £63,370 (Hydrogen)
Peterhead Port Authority, Aberdeenshire – £221,736 (Offshore Wind)
Pier Solutions, Aberdeenshire - £60,425 (Battery Storage)
PowerJacks Ltd, Aberdeenshire - £250,000 (Offshore Wind/Electrical Vehicle Production)
Seaflo Consultancy Ltd, Aberdeen - £170,000 (Offshore Wind/ Marine)
Verlume, Aberdeen - £250,000 (Offshore Wind)
Whittaker Engineering, Aberdeenshire - £250,000 (Low Carbon Heating)
Woolard & Henry, Aberdeen - £247,500 (Offshore Wind)