Government announces investment fund in AI for industrial decarbonisation
Overall value of fund is approximately £3.75 million and is split among multiple projects
The government announced earlier today that twelve green AI initiatives will receive a share of £1 million to decarbonise and boost generation of renewable energy,
These include the following:
- Secqai Ltd. in London will receive £100,000 to support the development of new ultra-low-power AI technology, which mirrors the neural structure of the human brain. This new system will consume a fraction of the power of traditional AI hardware, helping to cut its carbon footprint
- £121,500 for London-based Open Climate Fix Ltd. to develop AI that will support the connection of solar electricity to the energy grid. The technology will use satellite and weather data to forecast the amount to solar energy being transferred to the grid, to reduce network congestion and maximise the amount of renewable energy transmitted
- £133,932 will also support a solar energy project run by the University of Nottingham. In this project, AI will improve the forecasting of solar energy production, using sky images and weather data
- £132,147 will help list.io Ltd. to create a new agriculture robotics that will provide an automated soil and crop health monitoring system, to support decarbonisation in crop management and dairy farms
These are not large sums, but the government will also provide an additional £2.25 million to support further AI innovations with the aim of cutting emissions specifically in energy sectors.
These grants aren't "new" money. They form part of a £1 billion Net Zero Innovation Portfolio that the government announced in 2021.
Minister for Energy Efficiency and Green Finance Lord Callanan said:
"We are unquestionably world-leading when it comes to advanced AI and our track record for decarbonisation.
"This unique position means we must now push the boundaries in how this technology can enhance our rapidly-growing clean energy sector.
"It's projects like those announced today that will take us to the next step on our ambitious journey to becoming net zero, while boosting our energy security and creating a new wave of skilled jobs for the future."
ClimateTech expert Laimonas Noreika, CEO of HeavyFinance said: "AI is set to play a crucial role in tackling the climate change crisis, yet far too many firms lack the funding and support to fully embrace it.
"This new investment is a step in the right direction from the government and will play a crucial role in helping industries like energy, transport, and agriculture to make the most of the latest technology to decarbonise and go green."
The government's Digital Catapult agency, which is part of Innovate UK and supports businesses in progressing their ideas, has also today received up to £500,000 to launch the UK's first Centre for Excellence on AI innovation for decarbonisation (ADViCE).
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