Monday November 10th 2014
Business Secretary Vince Cable yesterday unveiled plans to help businesses develop new products and technologies and propel them to the vanguard in the fight against climate change.
The £14m fund is expected to promote products that reduce carbon emissions, improve energy security and reduce energy costs. The envisioned end result is a UK energy industry that meets demand in an environmentally way.
Speaking in light of the fund’s launch, Cable said: “We are facing a trilemma. “As well as reducing emissions and improving energy security, we need to reduce costs for energy users. Governments have their role to play, but we also need there to be investment by businesses in innovation to develop new products and technologies.
“We are making £14m available to encourage that investment and make sure that British companies have help to tackle this challenge.”