BUSINESSES that have an impact on the west Wales area can benefit from grants and support for projects relating to net zero thanks to a partner project.

The Launchpad: net zero industry, South West Wales partner project will be getting up to £7.5m of new investment to help the area’s innovation and business growth in renewable technologies.

The project builds on the already established South Wales Industrial Cluster and will allow businesses to apply for competitive grants and receive support for innovation project that focus on technologies to support the transition to net zero – like floating offshore wind, green or blue hydrogen production and distribution, CO2 capture and storage and sustainable fuel solutions.

The businesses’ projects must have a direct impact on the region of Carmarthenshire, Neath Port Talbot, Pembrokeshire and Neath Port Talbot.

The funding starts from £25,000 and is capped at £1m for projects the provide exceptional impact to the cluster.

The Launchpad programme is funded by Innovate UK and is designed to build on innovation clusters around the UK which have significant growth potential and to deliver jobs, growth and higher productivity.

The South West Wales Launchpad was developed in partnership with Innovate UK and developed by Net Zero Industry Wales, Neath Port Talbot Council and Pembrokeshire County Council.

Successful applicants to the Launchpad will receive:

·       Expert, high-level support from the public sector, academia and industry partners on developing business cases for coordinated investment of future public funding opportunities.

·       Access to established governance structures, helping to drive innovation projects forward and adapt to new opportunities.

·       Support to develop high quality business led projects in response to future UKRI opportunities, helping to unlock funding.

·       Skills development to support the transformation of the workforce.

 

David TC Davies, Secretary of State for Wales, said: “It is fantastic that £7.5m of UK Government funding is coming to South West Wales to support the growing net zero industry in this part of the country. There are some really innovative businesses who are already collaborating with each other and researchers to develop industries of the future, and this Launchpad funding will deliver what they need to take their work to the next level.

“The UK Government is committed to creating jobs and growing prosperity in Wales, and this is exactly the type of intervention that will help to foster a modern 21st century economy in the Neath Port Talbot area.”

Rachel Moxey, head of economic development and regeneration at Pembrokeshire County Council, said: “The Launchpad supports SWIC’s wider regional economic delivery plan, including delivering our mission of establishing South West Wales as a UK leader in renewable energy and the net zero economy.

“We’re excited to bring 15 years’ experience of collaborative working in South West Wales to share with SMEs to help them on their journeys to decarbonise, while benefitting our region in the process.”

Vaughan Gething, Welsh Government’s economy minister, said: “I am delighted that Net Zero Industry Wales, Neath Port Talbot County Borough Council and Pembrokeshire County Council have been successful in their application for funding from Innovate UK to establish a Launchpad.

“I supported the establishment of Net Zero Industry Wales as an independent body to help Welsh industry decarbonise, create new jobs in the green industries of the future and unlock investment opportunities and funding.

“This approach to collaborative working is exactly what we envisaged in our new innovation strategy, Wales Innovates, which includes achievable goals towards our vision of creating and nurturing a vibrant innovation culture as part of a stronger, fairer, greener Wales.”

The applications open on October 30, 2023, and will close on December 13, 2023. For more information, visit https://iuk.ktn-uk.org/programme/launchpads.