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NZTC 2024 TechX cohort raises £860,000 and postgraduate accelerator
Representatives from Kali Technology, H2CHP, Net Zero Technology Center and TechX strategic partners at the 2024 TechX demo day and graduation event
The Net Zero Technology Center (NZTC) has successfully formed its 2024 cohort of 12 clean energy startups, continuing its mission to advance clean energy technologies.
After completing the 15-week program, the companies collectively raised £860,000 in equity.
From technology to convert renewable energy, carbon dioxide and water into zero-carbon aviation fuel, to new solar thermal technology for buildings that can collect more carbon-neutral heat year-round, NZTC’s 2024 TechX cohort demonstrates the crucial role that start-ups are playing in discovering innovations to enable clean, affordable energy.
Throughout the program, participants were in contact with specialized mentors and were introduced to potential clients and investors, allowing them to validate their technologies, develop solid business models and improve their value propositions.
The program concluded with Demo Day 2024, giving startups the opportunity to present their solutions to industry leaders, including TechX’s strategic partners: ADNOC, bp, ConocoPhillips and Equinor.
Additionally, TechX Strategic Partners awarded additional cash prizes to startups that pledged the greatest climate and economic impact:
- Kali Technology, with its low-cost, integrated heat pump technology, won the £100,000 Climate Impact Award.
- H2CHP, with its fuel-flexible power generator, won the £100,000 Economic Impact Award.
NZTC will continue to support the 12 start-ups over the next two years, providing networking opportunities and co-working space in Aberdeen, Scotland, to propel the companies towards commercialization and beyond.
NZTC Acceleration Director and TechX Director Marcos Anderson said: “Over the past 15 weeks, our cohort of 2024 has demonstrated the transformative power of entrepreneurial innovation, having fully embraced the opportunities and network that comes with TechX. Their unwavering dedication to advancing clean energy demonstrates the critical role entrepreneurs will continue to play in accelerating the transition to net-zero emissions.
“NZTC will continue to support these companies, helping them unlock their full potential and facilitating their entry into the market to make a significant impact on both the future energy landscape and the economy. I look forward to seeing its continued development.”
Andrew Anderson, co-founder of Kali Technology, winner of the Climate Impact Award, said: “We are delighted to not only have graduated from NZTC’s TechX Accelerator, but also to have won the Climate Impact Award. Our solution addresses the costs and complexities of installing heat pumps, paving the way for affordable decarbonization.
At Kali Technology, we are committed to driving positive change across the energy sector, and TechX has been instrumental in making our vision a reality. We look forward to continuing our work with the TechX team at NZTC and developing further to unlock our full technology potential.”
Dr. Stephen HampsonManaging Director of H2CHP, winner of the Economic Impact Award, said: “H2CHP aims to meet the demand for clean, efficient and reliable power generation for industrial and maritime use, with the flexibility to transition to 100% renewable fuels.
“We are excited to have advanced our flexible fuel generator technology through NZTC’s TechX program and are honored to have won the Economic Impact award.
“With the support of NZTC, we are confident that our solution will play a crucial role in the transition to clean, affordable energy, helping industry and shipping meet their net zero targets.”
To date, NZTC has accelerated a total of 69 start-ups through its TechX program, which have collectively raised over £106 million in capital and generated a total of £27.3 million in revenue, with the potential to save 20-25 million tons of CO2e. annually until 2030.
TechX receives funding from the Scottish and UK governments as part of the Aberdeen City Region Deal investment.