Funding the future of energy

The

has announced that it is seeking industry investment to match the £500m the government is committing to the planned

over the next decade.

In a statement, the DTI said the Institute will be a step change in R&D towards secure, reliable and affordable low carbon energy technologies. It aims to bring together the public and private sector for a collaboration which will deliver sustainable and secure energy technologies for the long term.

Trade and Industry Secretary, Alistair Darling, said: ‘Secure and sustainable energy is of paramount importance to our prosperity and way of life, both now and in the future. We want to meet this challenge by making the UK a world-leader in developing vital new energy technologies. The Energy Technologies Institute is the most important development in UK energy research and innovation for decades.’

The DTI is inviting companies to express interest in participating in the Institute by the end of November. The government aims to have Institute fully operational by 2008.