NZTC Annual Review 2022-23

We’ve had another year of strong delivery, supporting technology developers and trailblazing start-ups, accelerating net zero and evolving our strategy.

As NZTC closes out another successful year, the organisation reflects on the broader global forces that have kept energy firmly in the spotlight – not only for governments and businesses, but for individuals across society. Over the past year, global energy markets have faced intense turbulence and monumental challenges. As the world continued to emerge from the pandemic, Russia’s invasion of Ukraine brought devastating consequences, while a cost-of-living crisis deepened across the UK. These events have forced the UK to confront its dependence on foreign energy sources and highlighted the urgent need to diversify the energy mix and reduce reliance on imports.

In this context, innovation has never been more vital. It is now widely recognised that technological advancement is essential to building a more resilient and cost-effective energy system and achieving the UK’s net zero targets. With net zero at its core, NZTC has continued to address complex technology challenges and co-invest in research and development alongside public and private sector partners to accelerate innovation.

This year saw NZTC take a bold step forward with the launch of its first open innovation programme, expanding on its successful ‘call for ideas’ initiative. The programme led to 20 game-changing net zero technologies securing over £20 million in combined support – £8 million from NZTC and more than £12 million in industry co-funding. A major milestone was also reached in the delivery of the Net Zero Technology Transition Programme, marking one year since the launch of seven energy transition projects that are already positioning Scotland as a global leader in net zero technologies – from manufacturing and design to installation and operation of next-generation energy systems.

NZTC continued to champion innovation through its TechX accelerator, welcoming 12 new clean energy startups in the fifth cohort of the programme. The Centre’s impact is driven by its people and the strength of its partnerships – a community of passionate, committed, and forward-thinking individuals and organisations who are redefining the future of energy and accelerating the UK’s path to net zero.

In recognition of its work in identifying, supporting, and delivering technology-driven projects, NZTC was proud to be named one of Reuters’ Top Global Innovators for 2023, with particular recognition for its collaborative approach.

This year also marked the launch of Net Zero Technology Services – a significant next step in NZTC’s growth. With the right expertise, strategies, and mindset in place, NZTC is well positioned to seize the opportunities ahead and continue shaping a net zero future.