The Low Carbon Innovation Fund (LCIF2) is seeking to make new investments of £25k and over into businesses who are developing innovative products and technologies that will make significant reductions of greenhouse gas emissions.
Launched in 2020 with a new £22 million cycle of investment the fund has already invested over £4m in companies including SKOOT, Electric Miles, Switchd and Adaptavate. The fund co-invests with like-minded private sector investors using £11 million of public funds from the European Regional Development Fund (ERDF).
If you are an SME operating in the East of England and have a focus on environmentally beneficial technologies and products, then you may be eligible to apply. These are not restricted to renewable energy or related sectors; however, they must fundamentally be more energy or resource efficient than what is currently available in the market.
Iain Dunnett, Senior Growing Places Co-ordinator for New Anglia LEP, said: “The LEP is prioritising support to developments that can demonstrate real ‘clean growth’ innovation and a strong contribution to sustainable business development. The LCIF2 fund is a commitment by New Anglia LEP, Cambridgeshire and Peterborough Combined Authority, Hertfordshire LEP and other partners to provide investment in businesses that are innovating to achieve the objective of net zero carbon.”
LCIF2 will be hosting a series of short webinars for interested parties to meet the team, find out more about the fund and how to apply.
The dates of the webinars are:
May 26th 2022
June 14th, 30th 2022
July 7th, 14th 2022
Register for the webinars here: https://bit.ly/LCIF2Webinar
Please visit www.lcif.vc to register for these events.
LCIF2 is operated by the University of East Anglia (UEA), supported by Norfolk County Council and managed by Turquoise International, the UK merchant bank specialising in energy, environment and efficiency. It is further supported by three Local Enterprise Partnerships: New Anglia LEP, Cambridgeshire and Peterborough Combined Authority, Hertfordshire LEP. It is funded by the European Regional Development Fund, an investment programme part financed by the European Union. LCIF2 is part of the UK government’s portfolio of business support products.