Branson launches green energy prize

May 15, 2012 by  
Filed under Green Energy News

Published on Monday 14 May 2012 06:06

A global green energy competition with a £400,000 prize is to be launched in Scotland’s capital.

Sir Richard Branson is supporting the Postcode Lottery Green Challenge which aims to reduce greenhouse gas emissions through sustainable business ideas and inventions.

The winner will receive £400,000 to develop and create their product within two years and Sir Richard is calling on all entrepreneurs to enter the online competition.

He said: “The UK has long been a nation of inventors, creating ideas that last a lifetime. The Postcode Lottery Green Challenge is about using that innovation to make a real difference to climate change and we are calling on all British entrepreneurs to enter the competition.

“A great British idea could be the next thing to shake up the way we do business and help tackle climate change. We want as many UK entrepreneurs to enter as possible – the Postcode Lottery Green Challenge is about showcasing sustainable invention and ideas, sharing expertise and knowledge.”

Dean Gregory won the competition in 2009 for his RidgeBlade MicroGeneration design, a rooftop turbine which harnesses wind power to produce renewable electricity for homes.

Mr Gregory, 49, said: “The moment of inspiration came from frustration at the current formats available for micro-turbines and we wanted to develop a product that could be used almost anywhere without attracting planning objections.

“To have reached the finals and receive feedback and encouragement from a panel that included Niklas Zennstrom, founder of Skype, was fantastic. To go on to win the top prize has given us the freedom to spend time refining and developing the product and we are now at the stage where we are ready to bring the product to market.”

Entrants can submit business plans online for products or services which are able to directly reduce CO2 emissions.

The Scottish Government is supporting the project, which is now in its sixth year, as it continues towards meeting its own green energy targets.

Copyright (c) Press Association Ltd. 2012, All Rights Reserved.

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