Clean energy start-ups graduate TechX Accelerator with £740K equity raised

The Net Zero Technology Centre (NZTC) continues to drive transformational technologies through promising clean energy start-ups. The Centre’s 2023 cohort, comprised of 12 pioneering companies, have successfully graduated from the award-winning TechX Clean Energy Accelerator after an intensive 15-week programme.

From space-based metocean survey intelligence technology to boost offshore renewable energy, to cryogenic superconducting hydrogen motors to decarbonise aviation, the latest TechX cohort demonstrate the impact entrepreneurial ingenuity will have in paving the way for clean and affordable energy.

The programme concluded with its 2023 Demo Day, giving the latest wave of start-ups an opportunity to pitch their solutions to a range of industry leaders.

The TechX 2023 start-up cohort included:

ACUA Ocean, London, UK Electrogenos, Oxford, UK Fluxart, Glasgow, UK Hydrowheel, Aberdeen, UK MESPAC, Torino, Italy Myriad Wind Energy Systems, Glasgow, UK Parallel Carbon, Ingatestone, UK PuriFire Labs, Cambridge, UK Wastewater Fuels, Coventry, UK Waterwhelm, Edinburgh, UK WaveX, London, UK Windswept, Shetland, UK

Through the programme the start-ups gained access to over 30 experienced mentors and were introduced to a range of potential customers within the energy industry. This allowed them to validate their technologies, build compelling business models and enhance their value proposition. Over the course of the 15 weeks, the start-ups also collectively raised £740K in equity.

TechX Strategic Partners bp, Equinor and ADNOC recognised the cohort’s achievements, funding cash prizes of over £200K, awarded to the start-ups with the most impactful net zero technologies. The 2023 winners were:

Chief acceleration officer & TechX director Mark Anderson said: “The start-ups from our 2023 cohort have grasped each and every opportunity that has come their way. They are a testament to the pivotal role entrepreneurs will play in unlocking new solutions that will help industry reach its net zero targets.

“I look forward to being part of their continued development as we work with these exciting companies for a further two years through our TechX Growth programme. Their journey is only just beginning, and I have no doubt they will continue to see success.”

UK Government Minister for Scotland Malcolm Offord said: “The Net Zero Technology Centre offers a place for pioneering start-up companies to create eco-friendly solutions that will drive change and help the offshore renewable energy sector continue in its goal of achieving net zero.

“Congratulations to 2023’s graduates, we cannot wait to see their success continue as part of the TechX growth programme. The UK Government is investing £90m in the Net Zero Technology Centre as part of the £125m Aberdeen City Region Deal.”

By Mark Adair – Correspondent, Bdaily

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