Venture Connect launches to springboard next generation cleantech moves

An investment programme has launched to catalyse the cleantech developments of tomorrow.

Venture Connect aims to nurture North East businesses developing low-carbon advances across the ports and maritime industry.

Bosses say it will boost firms’ “investment readiness” and help propel the marine sector towards full decarbonisation by 2050.

An initial eight businesses have been chosen to take part in the programme, which include CrowdHouse Energy and fuel flexible generator firm – and Durham University spin-out – H2CHP.

All will receive leadership and development support from high-profile mentors.

Port of Tyne will also offer its clean energy and 5G testbeds, with the aim of accelerating product readiness within a live maritime environment.

Dr Jo North, Port of Tyne technology and transformation director, said: “We are very excited to have launched with our first cohort.

“The maritime industry is changing exceptionally quickly, and there is an urgent need for our unique decarbonisation challenges to be solved.”

Stephen Hampson, H2CHP founder, added: “We are immensely proud to have been selected for the Venture Connect initiative, and eagerly anticipate leveraging this unique opportunity to advance our green maritime innovations.”

Led by the Port of Tyne-based 2050 Maritime Innovation Hub, programme collaborators include Connected Places Catapult, Barclays, Northstar Ventures, Gresham House and Innovation Super Network.