Achieving Net Zero is a milestone that many businesses are hoping to reach.
So, the prospect of additional funding for technology that promotes operations comes as good news.
The Government has recently launched a new grant funding programme, worth £1.5 million, to encourage the innovation of artificial intelligence (AI) to lower carbon emissions.
This AI for Decarbonisation Programme involves two funding streams, with Stream 1 set to co-fund a virtual centre of excellence on AI and innovation.
This stream is worth up to £500,000 and will support the centre’s development up to March 2025.
Stream 2, which is worth up to £1 million, is set to kick in and support the development of AI technologies to further the decarbonisation goal.
How will this impact businesses?
If you operate in the AI industry, this could give a much-needed funding boost to elevate your operations.
You may be eligible for the funding if your project aims to support the transition towards renewable energy and improve energy productivity.
You can find more information on applying for funding here.
On a wider scale, all businesses should already have plans in place to achieve the UK’s Net Zero goal by 2050, and any new technology that aids this should be welcomed.
As stated by the Government, the move towards reducing carbon emissions is also set to reduce the cost of energy and increase the UK’s global competitiveness.
What are the benefits of grant funding?
Grant funding is a great way for you to get the support you need, without having to pay it back.
Grants are also widely available, and you may be able to apply for multiple, depending on the industry you operate in.
Need advice on funding opportunities? Get in touch.
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