Offshore Renewable Energy (ORE) Catapult has selected six companies through its Launch Academy North East to receive investment for offshore wind technology development.
OxraGrid, Origin Tech, Beluga Seatech, Utility AR, Wootzano and Build Stream are all developing innovative cleantech solutions to enhance the North East of England’s offshore wind supply chain and drive cost reduction through innovation.
This represents the first intake of the Launch Academy North East, launched in October 2019.
The companies will now undertake a 12-week program of core modules provided by the partners, including funding, legal, IP, accountancy and investor readiness support, as well as modules delivered by ORE Catapult such as technology assessment, supply chain readiness and business case review.
In addition, they will each access GBP 20,000 of investment, provided by the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures.
“The North East of England has long played a pivotal role in the energy innovation landscape. Launch Academy North East will continue this tradition accelerating new products and services to market which will support the low carbon transition,” said James Battensby , ORE Catapult’s Head of Research Business Development.
“The Offshore Wind Sector Deal has ambitious targets to create 27,000 jobs and £2.6 billion in exports by 2030, and so supporting innovative new companies will be critical to achieving this goal.”
The companies were selected by a panel made up of industry representatives from ORE Catapult, EDF Energy, Royal IHC, Northstar Ventures, Sintons Law, Blu Sky, Newcastle Eagle Lab and TusPark Newcastle.