ETZ Ltd Secures Funding Support From bp & Scottish Enterprise for Scotland's First Energy Incubator & Scale Up Hub

ETZ LTD SECURES FUNDING SUPPORT FROM bp & SCOTTISH ENTERPRISE FOR SCOTLAND’S FIRST ENERGY INCUBATOR & SCALE UP HUB

£6.5 million 3000sqm facility will support supply chain expansion and deliver a ‘cutting-edge innovation ecosystem’

ETZ Ltd, the not-for-profit company tasked with spearheading North East Scotland’s energy transition ambition, has secured £1.25m from global energy firm bp and £2m support from Scotland’s national economic development agency Scottish Enterprise to begin construction of Scotland’s first Energy Incubator and Scale Up Hub (EISH). The remainder of the funds for the project will be supported through the Scottish Government’s Energy Transition Fund.

The Hub will be the focal point of the Innovation Campus, one of five specialist campuses being developed across the Energy Transition Zone which will become the largest dedicated energy transition complex in Scotland.

Located at Hareness Road in Altens Industrial Estate, the Hub will comprise 3000 sqm of flexible industrial and collaboration space that will foster manufacturing, supply chain company building, technology research and development and commercialisation, alongside targeted business support to drive entrepreneurship, innovation and growth. Subject to planning permission, work is expected to begin on the facility in Summer 2023 with opening planned for summer 2024.

ETZ Ltd has secured significant funding support from bp and Scottish Enterprise, who will become Founding Partners of the Hub.

In the lead up to the EISH building becoming operational, ETZ Ltd will be launching a number of initiatives focused on building the supply chain community including regular networking events, a mentoring programme and targeted energy transition challenges, whilst also working with low carbon operators and developers.

bp Senior Vice President North Sea Doris Reiter and Scottish Enterprise Chief Executive Adrian Gillespie joined ETZ Ltd Chairman Sir Ian Wood and Chief Executive Maggie McGinlay to announce the funding package and to view initial illustrative plans for the Hub.

Sir Ian Wood, ETZ Ltd Chairman, said:

“Innovation and a pioneering entrepreneurial spirit have been the hallmark of the North East of Scotland’s energy sector for over 50 years. The Energy Incubator and Scale Up Hub will help build on that proud reputation, allowing us to expand our vital energy supply chain, and be an integral part of the Innovation Campus and Energy Transition Zone.

“We are hugely grateful to bp and Scottish Enterprise for supporting this major project which is further evidence of the importance of collaborating closely with industry and government if we are to achieve an accelerated and successful energy transition, one that creates sustainable jobs and company growth as we create a cutting-edge innovation ecosystem.”

Adrian Gillespie, Scottish Enterprise Chief Executive, said:

“In a region renowned for its engineering talent, innovation and ingenuity, Aberdeen’s Energy Transition Zone will be a leading innovation district at the forefront of a green energy future.

“Scottish Enterprise has supported the Energy Transition Zone since its inception and is delighted to provide its Energy Incubator and Scale Up Hub project with £2 million funding. The hub will provide a base for green energy start-ups as well as oil and gas companies and associated supply chains who are pivoting their expertise towards the net zero transition.”

Doris Reiter, Senior Vice President North Sea, bp, said:

"A highly skilled and innovative supply chain has been the beating heart of the north-east of Scotland for decades. The expertise and technology developed here is a global success story and you would be hard-pressed to visit an oil and gas region anywhere in the world and not find Scotland's influence.

“We're at an exciting moment again in this region's energy story, not least through bp's own plans to scale up offshore wind, hydrogen production and electric vehicle charging, while continuing to focus on safe, reliable, and low emission production of oil and gas from the North Sea. We're proud to be supporting the ETZ's EISH to help ensure this region's pioneering spirit lives on for many more decades."