Two London-based companies awarded for low carbon ideas
Apr 24, 2013
Two innovative London-based businesses have been awarded £40,000 to help develop pioneering ideas that could put them at the cutting-edge of the UK’s new low carbon economy.
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.”
Notes to Editors
Shell seeks to initiate, establish and support Social Investment programmes that are aligned with its business. Social investment activities are themed around science, education, innovation and business skills.
- Shell Springboard is fully funded and managed by Shell. It provides a financial boost to UK based, small to medium sized enterprises with innovative, low carbon business ideas. Since being set up in 2005, Shell Springboard has provided awards totalling over £2.25 million to 62 companies with no strings attached. In 2013 awards totaling £330,000 will be given to 9 companies resulting in £2.58 million funding in innovative low carbon businesses in the UK over the last 8 years.
- Shell LiveWIRE has been running in the UK since 1982, when it was launched in the Strathclyde region of Scotland to combat the high level of youth unemployment. Since then it has helped thousands of young people in the UK to explore starting their own business and has spread to over 16 countries around the world. Shell LiveWIRE offers an independent and free online service and awards programme for young entrepreneurs.
Up to four Shell LiveWIRE Grand Ideas awards of £1,000 are given to start-up businesses every month. The Shell LiveWIRE Young Entrepreneur of the Year Award of £10,000 has been running since 1982 and continues to recognise and celebrate outstanding young entrepreneurs in the UK. Shell LiveWIRE has awarded a total of £5 million to young entrepreneurs since launching 30 years ago.
- Shell Education Service provides a series of unique, interactive science workshops to primary school children. Workshops are designed to support the National Curriculum in primary schools, benefitting both the pupils and teachers. The Shell Education Service also organises science days for local communities and trainee teachers, building their confidence and skills in teaching science. Shell has run this programme for over 50 years.
To find out more about Shell Social Investment, please visit: