It’s taken only 7 months for UKIIF to launch the first of two funds, the Hermes Environmental Innovation Fund, which has already raised £125m and will continue to seek further funding from investors.

The Environmental Innovation Fund, managed by Hermes Private Equity, will now start investing in low carbon and clean technology funds and co-investing in companies, providing much needed venture capital to help these innovative businesses grow. The Hermes Fund will focus on investment opportunities aimed at increasing the efficient use of resources (both renewable and non renewable) at all stages of production and consumption.

Over the past decade, the UK has emerged as a European frontrunner in alternative energy investment and is well positioned to further develop a sustainable market competitive globally.  The Hermes Fund will look to benefit from this attractive market framework and expects to commit its capital over the next 2-3 years.

The Prime Minister, Gordon Brown MP, said

“The UK has a wealth of innovators and entrepreneurs seeking to create the businesses of tomorrow – businesses that will make the UK a world-leader in low carbon innovation and industry, and help to tackle some of the biggest challenges we face around energy and climate change. This fund will provide substantial investment where it is needed and deliver strong returns for investors.”

Science & Innovation Minister, Lord Drayson said:

“Investment has flowed into the UKIIF at extraordinary speed. It’s already one of the largest European funds for investing in high-tech firms. But what’s more important is rapidly channelling that capital into Britain’s burgeoning green tech sector. After a tough spell, things are looking up for our entrepreneurs and innovators.”

Energy and Climate Change Minister David Kidney MP said:

“Cleaning up our energy supplies and improving energy efficiency will give the UK the opportunity to develop the low carbon industries of the future.  This new fund will help the UK to build on existing strengths in the sector and enable British companies to demonstrate and commercialise these technologies.”

Hermes Private Equity CEO Susan Flynn commented:

“Increased awareness of environmental issues and policies to tackle climate change presents a real opportunity for investors and the innovative companies we will invest in. At this stage in the economic cycle there are many forward-looking companies who may not have funding available to them. The Hermes Private Equity Environmental Innovation Fund (HPEEIF) will ensure that those seeking finance for promising new environmental ventures will have access to a source of funding.

We have already identified a number of attractive investment opportunities and anticipate that HEIF will begin to deploy capital shortly.”

The UK Innovation Investment fund was announced last June by the Prime Minister as part of the Government’s strategy for Building Britain’s Future. Hermes Private Equity and the European Investment Fund were confirmed as fund of fund managers for two separate funds of funds. Backed by £150m investment by the Department for Business, Innovation and Skills, the Department of Energy and Climate Change and the Department of Health, it has already attracted private investment to more than match this amount with the total first closing of £325m.

The UK Innovation Investment Fund will drive economic growth and create highly skilled jobs by investing in businesses where there are significant growth opportunities. Independent research^* estimates that the global market for low carbon and environmental goods and services (LCEGS) was already worth £3 trillion in 2007/08 and could grow to an estimated £4.3 trillion by 2015.

According to figures from the Carbon Trust, the UK is now the sixth largest low carbon and environmental economy in the world with 3.5% of global market share. This brings annual economic benefits and investment to Britain of £6-8 billion.

The UKIIF will target small growing businesses, start ups and spin outs including pre-profit and pre-revenue stages of development.

Evidence shows that venture capital-backed companies significantly out perform other companies in terms of their ability to create wealth and generate the spill-over benefits including export performance and the creation of high skilled jobs vital to the economy.^**

^* Source – Innovas 2009.

^** Source – British Venture Capital Association DATA 2008 – the economic impact of private equity and VC in the UK.

Department for Business, Innovation & Skills

The Department for Business, Innovation and Skills (BIS) is building a dynamic and competitive UK economy by: creating the conditions for business success; promoting innovation, enterprise and science; and giving everyone the skills and opportunities to succeed. To achieve this it will foster world-class universities and promote an open global economy. BIS – Investing in our future.

The HyWays project has created a roadmap based on country-specific analysis of the situation in Finland, France, Germany, Greece, Italy, Netherlands, Norway, Poland, Spain and the United Kingdom, together with an action plan detailing the steps necessary to move towards greater use of hydrogen.

Hydrogen is one of the most realistic options for environmental and economic sustainability in the transport sector, in particular passenger transport, light duty vehicles and city buses. However, its introduction requires gradual changes throughout the entire energy system and thus careful planning at this early stage. The transitional period offers Europe the opportunity to take the lead in developing hydrogen and fuel cell technology and its applications in transport and energy supply. The challenges are high and the right steps have to be taken quickly if Europe is not to count the cost of late market entry.

The costs of hydrogen end-use applications, especially for road transport, need to be reduced considerably to become competitive. At the same time deployment support schemes for hydrogen end-use technologies and infrastructure build-up are required. Comparing the spending for hydrogen production, supply and vehicles with the savings to be gained from replacing conventional fuel and conventional vehicles over time, the extensive and high-quality simulations of the project predict that the break-even point would be most likely reached between 2025 and 2035. The HyWays Roadmap estimates that in 2030 there will be 16 million hydrogen cars and the total cumulative investment for infrastructure build-up will amount to €60 billion.

The study examined the different ways in which hydrogen can be produced and found differing attitudes across the EU. All countries represented chose the production of hydrogen from natural gas, biomass and wind energy. Nuclear energy was seen as an option in France, Finland, Spain, Poland and the United Kingdom, whereas the use of coal was excluded in Finland, France and Norway. The report showed that the production of hydrogen from fossil fuels using carbon capture and storage could make a significant contribution to reducing CO₂ emissions. Furthermore, the introduction of hydrogen into the energy system offers the opportunity to increase the ratio of renewable energy, and help the large-scale introduction of intermittent resources such as wind energy through its use as a temporary energy storage option.

Competitiveness ministers of the 27 Member States are today expected to discuss and give the green light to a European Commission proposal for a public/private research partnership (“Joint Technology Initiative”) to develop Fuel Cell and Hydrogen technology. This industry-led integrated programme of research, technology development and demonstration activities will receive € 470 million of funding from the EU’s research programme over the next six years, an amount to be matched by the private sector. At the same meeting, ministers will discuss the Strategic Energy Technology Plan, which mentions this initiative as an example for future European actions to develop new energy technologies.

For more information:

HyWays and the report:

http://ec.europa.eu/research/energy/nn/nn_pu/hyways/article_0001_en.htm

Fuel Cell and Hydrogen Joint Technology Initiative: IP/07/1468, MEMO/07/404

Strategic Energy Technology Plan: IP/07/1750

The concept consists of two parts – a wearable sensor unit which can sense and analyze your environment, health, and local weather conditions, and a dedicated mobile phone.

The sensor unit will be worn on a wrist or neck strap made from solar cells that provide power to the sensors. NFC (near field communication) technology will relay information by touch from the sensors to the phone or to or to other devices that support NFC technology.

Both the phone and the sensor unit will be as compact as possible to minimize material use, and those materials used in the design will be renewable and/or reclaimed. Technologies used inside the phone and sensor unit will also help save energy.

Stay in touch with your health and local environment

To help make you more aware of your health and local environmental conditions, the Nokia Eco Sensor Concept will include a separate, wearable sensing device with detectors that collect environment, health, and/or weather data.

You will be able to choose which sensors you would like to have inside the sensing device, thereby customizing the device to your needs and desires. For example, you could use the device as a “personal trainee” if you were to choose a heart-rate monitor and motion detector (for measuring your walking pace).

Here are some other examples of customized sensing devices you could build:

A mobile device that builds on the “three Rs”

Reduce, reuse and recycle – the Nokia Eco Sensor Concept is built upon all three of these underlying principles of waste reduction. Emphasis will be placed on materials use and reuse in the phone’s construction:

A phone for the energy-conscious consumer

To complete the Nokia Eco Sensor Concept, the phone and detector units will be optimized for lower energy consumption than phones in 2007 in both the manufacturing process and use. Alternative energy sources, such as solar power, will fuel the sensor unit’s power usage. Thus, we aim to create a self-powered sensing device to reduce dependence on external, non-renewable energy sources.

Innovative Services

The possibilities to introduce creative and useful mobile applications and web services that build upon the environmental data collected from such a design concept are numerous. These services can range from personal health monitoring and improvement, to large-scale collective efforts to promote sustainable lifestyle choices. Even very simple environmental variables can bring about novel solutions when shared and integrated into a global network of mobile explorers.

Consumers are asking the food industry: “What are all these weird ingredients that I can’t pronounce doing in my salad dressing? And why is the dressing in a nonrecyclable bottle? And why is grocery shopping such a drag?”

Americans concerned for their health, the environment and where their food comes from are changing the way they eat. And a yearning for more sensory stimulation is changing the way they shop. In response, manufacturers are changing the way they do business.

In 2008, more products designed to appeal to socially conscious buyers will make it onto shelves, according to food-trend analysts. Companies are focusing on promoting green initiatives and making their food labels easier to read, using fewer scary-sounding ingredients and emphasizing additive-free and “good-for-you” products. At the same time, the grocery industry is turning its stores into pleasure palaces complete with mood lighting, piped-in smells and tasting bars.

Last year, Safeway reopened on First Street in Livermore, making the transition from supermarket to “lifestyle” store – a concept designed to appeal to a generation weaned on iPods and text messaging who complain that grocery shopping “is so boring.”

“I actually had a young person tell me that,” said Lynn Dornblaser, a trend expert for Mintel, an international marketing research firm. So, she says, the grocery industry is taking its cues from department stores.

Livermore’s Safeway is a good example. Its coffee and tea section, a corner of the store bathed in warm lighting with rich hardwood display shelves and lots of free samples, looks more like a department in London’s Harrods than a grocery store aisle.[...]

Read article – Via : ©sfgate.com

Its task is elegantly direct. The 9-foot-tall device, encased in see-through plastic, scrapes the chief global warming gas — carbon dioxide — right out of the atmosphere. As air wafts through, CO₂ sticks to large chemically coated panels while oxygen and other innocuous gases breeze by. The carbon inhaler’s developer, Global Research Technologies, is among hundreds of U.S. companies scouring for ways to reduce the world’s greenhouse gas emissions and cash in on federal requirements anticipated by 2010 to combat global warming.[...]

Full article – Via : ©usatoday.com