Chamber News
The ETZ Ltd Challenge Fund Open Now
28 February 2024 • Sarah Medcraf
ETZ Ltd is launching the latest round of the Supply Chain Pathway and Challenge Fund. To date, £3.370m has been invested by ETZ to support 24 companies in their ambition to transition into low carbon sectors. This is a great opportunity for companies to de-risk and accelerate capital investment required to exploit low carbon markets.
The Challenge Fund supports high-growth potential companies across North East Scotland's energy sector to enter the low-carbon industry. The Challenge Fund will award grant funding between £50k and £250k to accelerate innovation and market entry, support business growth, and create new jobs in the energy transition into the low-carbon market. Applications may include new facilities, new equipment and existing infrastructure upgrades, including digital infrastructure.
Consideration will only be given to awards at the upper end of the range if there is a particularly strong funding case.
The fund will primarily support SMEs servicing the oil and gas market in Aberdeen City, Aberdeenshire and Moray to transition to new or existing opportunities in new and green energies.
The challenge fund is administered by ETZ Ltd and supported through the Scottish Government's Just Transition fund.
Applications are now open until 12pm on the 9th of April 2024.