Perth and Kinross Council, supported by the Can Do Innovation Challenge Fund, is co-developing an innovative smart low carbon energy network with five Scottish small to medium enterprises. The project aims to reduce carbon emissions while delivering a cost saving to the council.
The project has already led to 15 new jobs across the five companies, with an additional 66 jobs forecast in the next three years. Three of the five companies have developed protectable IP and have managed to gain £2.5 million additional investment as a result of the project. The forecasted, future revenue from the project is expected to be over £5 million.
One of the companies, Edinburgh based technology developer StorTera, has developed innovative battery technology, attracted additional investment, grown the business and started exporting - all as a direct result of the project.
The council has gained valuable innovation management experience through the process while being able to develop five innovative proof of concept solutions. The initial carbon savings in phase 1 alone has been 17 tonnes of CO2 with considerable future savings expected in phase 2. A clear line to future procurement has been established which will deliver significant economic impact directly, and indirectly, for the council.
Michael Figures, Business developments project officer at Perth and Kinross Council said:
“The Can Do Innovation Challenge Fund is a great way to encourage and explore innovation to develop cutting-edge solutions to meet the challenges of today and tomorrow, for an ever-more inter-connected and complex world.”