13 February 2008
Dundee business with big idea for tackling climate change wins £40,000 prize
13th February 2008 - A Dundee based business with a big idea for tackling climate change has won a Shell Springboard award of £40,000.
Oxy-Gen Combustion Ltd, a start-up company from the University of Dundee, is developing an ultra low emissions motor engine which will be up to 25% more efficient and will reduce CO2 emissions by a similar amount.
The company behind the technology, known as Homogeneous Charge Compression Ignition (HCCI), believes it is the stepping stone between present motor engines and the awaited hydrogen and fuel cell technologies of the future.
David Tonery, Managing Director of Oxy-Gen Combustion Ltd, said, "Winning this Shell Springboard award is fantastic. The money will be used to protect the intellectual property we already have on the idea, to continue to develop our work and prepare us for the next stage for a pre-production prototype."
"We are in a gap funding stage and this award helps fill that monetary gap and will help leverage a larger amount of investment. It will also allow us an opportunity to attract larger companies to create a larger collaboratory project which is a key to our success."
John MacKenzie from the University of Dundee said, "David and his project are very deserving of such recognition from Shell Springboard and The University of Dundee is delighted to have contributed towards his success to date. He is an outstanding role model to our students and anyone else thinking about starting a technology development business."
John Findlay from Scottish Enterprise Tayside added, "Shell Springboard has endorsed that Scottish Government's decision to award Oxy-Gen support to conduct a feasibility study under Smart:Scotland. Scottish Enterprise Tayside is delighted to continue providing innovation support in the future."
Oxy-Gen Combustion Ltd competed against five businesses from across the North region on 12th February 2008 in Edinburgh and will now compete to be named as the UK winner in London on the 4th of March.
The Aerogenerator Project from Blyth in the north east of England also received an award of £40,000.
Shell Springboard provides a financial boost to a small number of UK businesses that submit the most compelling plan for a product or service which:
- Will lead to greenhouse gas reductions
- Is commercially viable, and
- Is innovative
Last year awards of £40,000 were made to eight businesses drawn from across the UK.
Judging of the six regional finalists was carried out by a panel of independent experts who were looking for ideas that not only had potential to break new ground but also had sound financial planning and market insight.
The Shell Springboard programme hopes to encourage small and medium sized businesses to see that climate change is a huge opportunity.
James Smith, Chairman of Shell UK said, "Research carried out for Shell shows that the commercial opportunity for UK businesses with big ideas to tackle climate change could amount to many billions of pounds over the coming years. Shell Springboard aims to encourage and reward companies with those innovative ideas that are both good for the environment and good for business. Congratulations to David and Oxy-Gen Combustion Ltd."
Issued on behalf of Shell Springboard by Wave PR Ltd. For further information please contact Jonathan Kennedy on 0141-303-8390 or 07799-768968.
Notes to editors
- The UK market for climate change products is estimated by Vivid Economics to be £2.78 billion in the year to January 2008, compared to £2.29 billion in the previous year. See page 16 of Shell Springboard's Vivid Economics report, "The Opportunities for Businesses Tackling Climate Change". Please contact Jonathan Kennedy at Wave PR for a copy of the report.
- Up to 6 awards of between £20,000 and £40,000 are on offer in each of 3 UK regions:
- North - Scotland, Northern Ireland and northern England
- Central - central England and Wales
- South - southern England and East Anglia
- The number and quality of entries will determine the number of awards given. Each region has a maximum number of awards it can give, but no minimum. Last year there were eight awards made.
- Shell Springboard aims to be a catalyst for those people who through innovative ideas and businesses are trying to seize the commercial opportunities presented by climate change. Shell believes that is through encouraging and harnessing the energy of business that society will make the faster progress in tackling climate change.
- Shell Springboard is part of Shell's Social Investment activities in the UK. Other programmes include Shell Livewire, Shell Step and Shell Education Service. For further information, visit www.shell.co.uk/socialinvestment
- The Shell Education Service seeks to inspire tens of thousands of children each year, encouraging them to explore and question science through hands-on investigations. A programme of workshops reaches some 50,000 children as expert workshop leaders travel to 600 primary schools across the country each year.
- Shell Livewire's mission is to help unearth and support the young entrepreneurs of today who will create the jobs, wealth and innovations of tomorrow. Shell Livewire do this through marrying peer to peer inspiration and encouragement with practical nuts and bolts help that can only come from business people who understand the challenges of building a business.
- Shell Step is a direct response to the challenge that faces tens of thousands of UK graduates when they move from the world of study into employment. The programme gives hundreds of students each year relevant and meaningful experience of the world of work and is the UK's leading creator of tailored placements for students in small and medium-sized businesses.
For media enquiries contact:
Roddy Isles
Head, Press Office
University of Dundee
Nethergate
Dundee, DD1 4HN
TEL: 01382 384910
E-MAIL: r.isles@dundee.ac.uk
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