THE NET Zero Technology Centre (NZTC) has announced its 2023 start-up cohort. Twelve clean energy start-ups, selected from over 200 applications spanning 43 countries, have gained a place on the award-winning TechX Clean Energy Accelerator programme, which begins in late February 2023.
Each company will receive up to £100,000 funding, while benefitting from mentorship and access to NZTC’s global energy network, including support from the programme’s industry-leading partners: bp, Equinor and ADNOC.
The TechX Accelerator programme provides start-ups invaluable opportunities that will help propel trailblazing solutions. This year’s cohort offers a range of transformational innovations, including space-based metocean survey intelligence to boost offshore renewable energy, and cryogenic superconducting hydrogen motors to decarbonise aviation. Harnessing entrepreneurial ingenuity will be key to accelerating clean and affordable energy, and ultimately reaching carbon neutrality by 2050.
The start-ups selected are:
- ACUA Ocean – hydrogen power train technology to propel unmanned surface vessels
- Electrogenos – novel catalyst and electroplating process for alkaline electrolysers
- Fluxart – cryogenic superconducting hydrogen motors to decarbonise aviation
- Hydrowheel – novel inflatable waterwheel technology, generating renewable energy from tidal power
- MESPAC – space-based metocean survey intelligence for offshore renewable energy
- Myriad Wind Energy Systems – modular multi-rotor wind turbines
- Parallel Carbon – direct air capture technology that utilises renewable energy and abundant minerals
- PuriFire Labs – cryogenic carbon capture technology
- Wastewater Fuels – microbial electrolysis cells for green hydrogen production from wastewater
- Waterwhelm – forward osmosis desalination technology to enable energy efficient hydrogen production in regions of fresh water unavailability
- WaveX – foundation-free wave energy converter, deployed within seabed
- Windswept – scalable kite wind turbines with lightweight and efficient blades
The programme also continues to advocate entrepreneurial diversity. Four of the 12 start-ups have a female founder with an equity stake, which follows the centre’s call to champion more women in the energy and tech sectors. TechX will facilitate training to help tackle unconscious bias and support the companies in building diverse teams. These sessions aim to help start-ups enhance soft skills, increase efficiency and improve employee retention.
Mark Anderson, TechX Director at NZTC, said:
“Now in its fifth year, TechX continues to discover and support start-ups with revolutionary solutions that will be essential to unlocking clean energy. The level of innovation from this year’s cohort is nothing short of inspiring – their drive, commitment and potential is what makes start-ups key in the transition to net zero.”
To date 45 start-ups have been supported through the programme, and have gone on to generate more than £10M in revenue collectively, and raise over £50M in equity. The programme aims to accelerate new technology companies rapidly into the energy industry, shortening the road to commercialisation and closing the gap in technologies that are pivotal for a net zero future.