ETZ Ltd has awarded £1.47 million in grants to ten North East Scotland firms as part of the Challenge Fund focused on driving the energy transition and creating jobs.
The Challenge Fund provides grant funding up to £250,000 to help companies shift their focus from oil and gas to take advantage of opportunities in green energy.
ETZ said the firms, which range from subsea robotics developers to offshore wind fabricators, all have “high-growth potential” in renewables and low-carbon markets.
The investment boost is aimed at helping businesses to acceleration innovation, and will unlock a further £2.4 million in private investment.
Open to businesses based in Aberdeen, Aberdeenshire and Moray, the latest round will support projects across sectors including offshore wind, wave power, electric vehicle charging and geothermal energy.
The Challenge Fund is backed by the Scottish Government’s £500 million Just Transition Fund, which launched in 2021.
During a visit to Aberdeen on Monday, acting Scottish energy secretary Gillian Martin said Scotland has an “established track record in promoting renewable energy”.
© Supplied by ETZ Ltd/True North“We are at the forefront of its technology development and generate the majority of our electricity from renewable sources – ensuring we play a crucial role in the UK’s overall energy landscape,” Martin said.
“The ETZ Challenge Fund is a good example of how funding, supported by our Just Transition Fund, is helping businesses to accelerate innovation and transition into low-carbon markets.
“This is yet another demonstration of the government working closely with partners to ensure that our transition to net zero by 2045 is done in a way which is just and fair to everyone.”
ETZ Challenge Fund
ETZ Challenge Fund grants range between £50,000 and £250,000 and are matched by company contributions.
To be eligible, businesses must have an existing relationship with ETZ, a not-for-profit funded by both the Scottish and UK governments.
They must also be based in Aberdeen, Aberdeenshire or Moray, with projects taking place in and directly impacting the North East region.
Across its three rounds, ETZ said the funding programme has unlocked more than £14 million in investment since 2022.
ETZ energy supply chain programme manager Freda Miller said ten firms set to receive funding in the third round “showcases the scale of pioneering work” being done in the region.
“The supply chain is the lifeblood of our sector,” Miller said.
© Supplied by ETZ“These are the homegrown companies, with specialist skills and experience to scale and deploy innovative solutions that are vital if we’re going to reach net zero – both here in Scotland and right across the globe.
“More than £3.9m of total funding has been unlocked through this round of the Challenge Fund, showcasing a sector which is ready and willing to diversify operations for the industrial revolution in green energy.”
North East energy supply chain
Among the firms set to receive funding is Altens-based Alba Gaskets.
Historically focused on oil and gas, Alba Gaskets will use the funding to invest in opportunities within the carbon capture and storage (CCS) sector.
Alba Gaskets managing director Gavin Sim said: “As a proud Scottish manufacturer, we want to create employment within the city and longevity for the business.
© Supplied by ETZ Ltd/True North“This funding will assist us in our goals to become the leading gasket supplier within the CCS market and we thank ETZ Ltd for its support in realising that ambition.”
Other firms set to receive funding include HPR ROV in Aberdeen and Safelift Offshore in Kemnay.
HPR is developing “micro” remotely operated vehicles for floating wind inspection.
Meanwhile, Safelift is using its funding to develop an improved fabrication facility at its Aberdeenshire base.
Energy Transition Zone
The latest round of funding comes after 14 firms shared in £2.5 million in grants last December.
In addition to the Challenge Fund, ETZ is also behind plans for a £60 million Energy Transition Zone in Aberdeen.
The renewables-focused technology and research hub will be located close to the recently opened Aberdeen South Harbour.
The project has attracted controversy over concerns about its impact on green space near Torry.
But earlier this month, Scotland’s highest court dismissed a legal challenge lodged by campaigners.
Challenge Fund grants
The full list of firms set to receive grants in the latest round of the Challenge Fund include:
- Safelift Offshore Ltd – £250,000 (Offshore Wind)
- Trojan Energy – £231,750 (Electric Vehicle Charging)
- Greenwell Equipment – £250,000 (Offshore Wind, Onshore Wind, Hydropower, CCS, Wave Power)
- Resolute Energy Solutions Ltd – £40,040 (CCUS, geothermal, decarbonisation of oil and gas)
- ITC Hydraulic Services Ltd – £246,062 (Offshore Wind)
- Innovair Limited – £73,751 (Offshore Wind)
- Alba Gaskets – £84,726 (CCS, Decommissioning)
- HonuWorx Ltd – £51,587 (Offshore Wind)
- HPR ROV Ltd – £92,000 (Offshore Wind)
- ADC Energy – £149,975 (Offshore Wind)
All ETZ Challenge Fund grants are conditional on meeting the conditions the requirements of the programme.
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