Low Carbon Technology Market – There are estimated to be over 650 low carbon technology businesses active within Lancashire, plus thousands of aero/automotive and advanced manufacturing firms that have the potential to diversify into component manufacture for the sector.
The Chamber are currently working with in excess of 150 low carbon specialist tech product developers currently developing well in excess of 200 products, and supporting them through product commercialisation processes, with consultancy support and alliances with a wide range of partners including the AMRC.
There are currently over
Low carbon technology businesses in Lancashire
In excess of
Low carbon specialist tech product developers in Lancashire
In excess of
Low carbon products in lancashire
The constraining factor is the access to capital investment at early product development stage and the need to apply sequentially for funding from early adopters, development partners and financially VC/equity investors through exacerbated processes over a period of many years.
But for the funders – the need to have creditable partners working on the early stage of technology viability assessment, market research and demonstration of the technologies to support the initial sales development.
The RedCAT project will provide early capital investment at that research and development stage up to a maximum of 70% as per state aid rules for a small enterprise, (60% for a medium sized business, and 50% for a large business) plus activity work from the first stages of development to put in place the long-term package of support from private sector backers and equity investors to enable swift commercialisation and manufacture of products.
The RedCAT project will provide early capital investment up to a maximum of:
- 70% 70%
for a small enterprise
- 60% 60%
for a medium sized business
- 50% 50%
for a large sized business