A GRANT scheme has been launched in York providing a total of £1 million funding for businesses looking to implement biorenewable technology.
The Biorenewables Capital Grant Scheme (BCGS) is open to applications from small to medium-sized businesses (SMEs) in Yorkshire and the Humber looking to explore the commercial feasibility of bio-based projects.
The scheme has been launched by the Biorenewables Development Centre, based on the science park at the University of York.
Funding is available to eligible SMEs to implement pilot-technologies in the biorenewables area and will provides 64 per cent of the funding, up to the value of £32,000, towards the purchase of capital equipment, with the additional 36 per cent to be matched privately by the SME.
Available in three funding calls in 2014, the BCGS is a competitive grant scheme and expects to fund about 26 projects, with a combined project value of £1 million.
Dr Fabien Deswarte, business development unit manager at the centre, said: “This is a fantastic opportunity for regional SMEs to invest in innovative green technologies, for example by turning their plant or food wastes into useful products “The BCGS will allow SMEs to purchase key pieces of equipment to test proof of concept before committing to full-scale industrial development.”
The BCGS aims to support local businesses by providing access to technologies to convert plants, microbes and biowastes into profitable green products.
The scheme adds to the funded services the Biorenewables Development Centre is able to provide to regional SMEs through grants from the European Regional Development Fund.
Dr Joe Ross, director at the Biorenewables Development Centre, said: “The region is perfectly placed to drive innovations in biorenewables through its unique combination of industry, agriculture and world-class research.
“This funding provides an excellent opportunity to harness the region’s capabilities and help establish Yorkshire and the Humber as a leader in the bioeconomy, which, across Europe, has a reported worth of around €2 trillion.”
The deadline for expressions of interest for the first call of the BCGS is March 3. Further details are available at biorenewables.org/business/funded-support