Access to Investment
There are a wide range of financial assistance and incentive packages available to business looking to move into London Thames Gateway or already in the area and wanting to grow.
London Waste and Recycling Board (LWARB)
LWARB is a statutory board set up in July 2008, under the Chairmanship of the Mayor of London, with the objective of promoting and encouraging the production of less waste, increasing the proportion of waste that is reused or recycled and the use of methods of collection, treatment and disposal of waste which are less harmful to the environment.
Part of the board's remit is the administration and allocation of the London Waste and Recycling Fund, comprising £60 million from government (over three years starting 2008/09) and up to £24 million provided by the London Development Agency over the period to 2011/12.
Energy Technologies Institute (ETI)
ETI is a UK based company formed from global industries and the UK government, bringing together projects that create affordable and reliable clean energy for heat, power and transport. The Energy Technologies Institute will demonstrate technologies, develop skills and supply chains, inform the development of regulation, standards and policy, and accelerate the deployment of affordable, secure low-carbon energy systems from 2020 to 2050. The ETI is a unique public-private sector partnership that is seeking to accelerate the deployment response to the UK's renewable energy and CO2 reduction targets.
Over the next ten years, the Energy Technologies Institute will select, commission, fund and manage the delivery of technology programmes. Funds will be invested in a small number of key technology areas with the greatest promise for deployment on the basis of their projected contribution to low carbon, secure energy supplies.
The ETI has agreed a unique flexible funding framework with the European Commission that allows a variable mix of public and private funding. Projects may6 be co-funded with project participants, giving flexibility in access to arising Intellectual Property to reflect contributions in cash and in kind. Potential funding for 100 percent of projects costs may also be considered or directly procured at market rates, carrying the mix of ETI public and private funds to allow for profit. Projects outside of the European Economic Area countries can also be funded.
ETI aims to find a relatively small number of large scale projects in the £5 million to £25 million range. Projects are funded via a set of agreed deliverables, and an agreed budget and timeframe.
The ETI may also decide to conduct, contract or procure specific research, development or demonstration which is not considered appropriate to be chosen as a research project under the Flexible Research Programme.
Technology Strategy Board
The Technology Strategy Board invests in projects involving business and researchers working together to deliver successful new technology-based products and services. Over 700 CR&D projects have received investment since 2004, amounting to over £1 billion (about half from ourselves and half from the businesses involved).
Waste and Resources Action Programme (WRAP)
WRAP is a not-for-profit organisation funded by DEFRA and BERR. WRAP provides grants to companies to support strategic projects. In order to meet EU state aid rules WRAP is keen to support projects in assisted areas such as London Thames Gateway.
A healthy, vibrant and growing recycling industry is essential to the delivery of the UK's objectives on resource efficiency. By providing tools and financial help for businesses WRAP will continue to encourage the growth of the recycling industry as it develops to meet new challenges.
WRAP also provides advice to help businesses find savings from improved waste management processes. These factors add up to significant positive economic impacts for the UK.
WRAP are launching a mixed plastics capital grant competition a new capital grant opportunity in England, Wales and Northern Ireland to provide financial assistance towards a facility (or facilities) that will be capable of sorting, recycling and reprocessing a range of mixed plastic (non bottle) packaging arisings from the domestic (household) waste stream. WRAP can offer up to £2m as a grant and providing that the total State Aid intensity does not exceed 30% of the total eligible capital costs of the project, applicants may wish to seek public funding from elsewhere.
Low Carbon Seed Fund
This Low Carbon Seed Fund aims to take equity stakes in companies raising up to £1m, where the equity gap is most severe. The fund is focused on identifying early stage cleantech investment opportunities that emerge both from the Carbon Trust Incubators as well as from other dealflow sources. The fund may invest up to £500k in any UK-based clean energy business that meets the fund's investment criteria. The total investment transactions will typically be between £500K and £1.5m. The fund must invest alongside other commercial investors on a pari passu basis.
Clean Energy Fund
Carbon Trust Investments directly invests into clean-energy technology businesses through its Clean Energy Fund. Following its establishment in May 2002, it has been one of the most active UK investment funds in the sector. We typically invest between £250k and £3 million in a business, with the average transaction-size being between £500k and £10 million. The fund must invest alongside other commercial investors on a pari passu basis.
The fund is advised by the Carbon Trust's fund advisers CT Investment Partners.
Households and communities who install generating technologies such as small wind turbines and solar panels will from April 2010 be entitled to claim payments for the low carbon electricity they produce.
Energy and Climate Change Secretary Ed Miliband announced the feed-in tariff (FITs) levels and also published a blueprint for a similar scheme to be introduced in April 2011 to incentivise low carbon heating technologies. The renewable heat incentive (RHI) will be a world first.
The schemes are designed to bring about a significant increase in the amount of locally produced green energy, as a contribution to the wider shift of the energy mix to low carbon.
