Heat Pump Initiatives are Funded with £5.3 Million

UK: As part of its Heat Pump Ready program, the government of the United Kingdom has announced that it will provide an additional £5.3 million in funding to encourage the development of innovative heat pump solutions.

In the Stream 2 Wave 2 competition that is part of the Heat Pump Ready initiative, the funding allocation of £5,327,789 is distributed among nine different projects.

The Department of Energy Security and Net Zero, as part of its Net Zero Innovation Portfolio (NZIP), is the organization that is providing funding for Heat Pump Ready, which was established in 2022. Through the 2020s and 2030s, the fund, which has a total value of one billion pounds, intends to hasten the commercialization of low-carbon technologies, systems, and business models in the electricity industry, the construction industry, and the industrial sector.

Source: Cooling Post