CHESHIRE’S Energy Innovation Centre (EIC) has secured more than £29m of funding for firms bringing new ideas to the energy sector.

EIC, which was set up with £1.5m from the Northwest Development Agency in 2009, is now inviting companies from across the UK to apply for a slice of the £29.2m pot.

Money for the fund has come from energy watchdog Ofgem’s Innovation Funding Incentive scheme and the £500m Low Carbon Networks Fund.

Once firms have submitted their ideas, the UK’s leading electricity companies – Electricity North West, Northern Power Grid, ScottishPower Energy Networks, Scottish and Southern Energy and UK Power Networks – will decide which projects will receive funding.

Denise Massey, director of the Capenhurst-based EIC, said: “This is another huge step forward for innovators and businesses that need to accelerate their ideas to market.

“As part of this initiative, we will continue to deliver a range of support services, including opportunities to test technologies on high and low-voltage power networks and establish relationships with potential customers.

“This is an opportunity for the UK to further develop the way energy is distributed – whether this is a new or early stage idea or an existing technology from another industry which will improve the energy supply process.

“We are looking for products that will help manage demand, and encourage more efficient use of energy in the home and workplace.”