Vantage Power – a start-up aiming to green London’s red buses with retrofit hybrid engines – and Ventive Ltd – who have developed a Passive Heat Recovery Ventilation Unit that mimics nature to reduce domestic heat loss by up to 97% – were named Regional Winners in the prestigious Shell Springboard Awards in Oxford this week.
Run by Shell, the high profile competition aims to find the next big idea in low carbon enterprise and innovation by small and medium enterprises.
Vantage Power and Ventive Ltd saw off more than 120 companies to secure a place at the regional heat of this year’s competition and impressed judges with their low carbon innovations.
The start-up companies from London will now go head to head with the regional winners from the Newcastle and Edinburgh events at the national final held in the capital on 14th May.
Alex Schey of Vantage Power said: “The award is fantastic validation for Vantage's technology and vision, and we are extremely grateful to Shell Springboard for organising the programme and supporting small businesses.”
Rob Morrison of Ventive Ltd added: “Winning the regional final of the Shell Springboard award gives Ventive a fantastic opportunity to take our product to the next level, and we are very much looking forward to competing in the national final.”
In addition, Arriba Cooltech were named regional runners up and awarded £30,000. The Cambridge based company have developed a range of heat recycling equipment which use waste energy from buildings to boil-up liquid CO2 inside its evaporator.
According to the Confederation of British Industry, low carbon products and services are now worth more than £120bn a year to the UK economy – 8% of the UK’s GDP. Now in its eighth year, Shell Springboard has awarded over £2.25 million to 62 small businesses that have developed new ways of cutting CO2
John MacArthur, Vice President, Gas Technology at Shell added: “History has shown that some of the biggest breakthroughs come from small businesses.
Shell Springboard celebrates the enormous contribution new enterprises such as Vantage Power and Ventive can make on today’s major challenges such as cutting carbon emissions and meeting rising demand for energy. I wish them all the best at the national finals in May.”