Welcoming the Government's announcement of a new Energy Technology Institute, Richard Lambert, Director-General of the CBI, said:

"This is a hugely positive development, meaning we can really step up a gear on energy research as we face the challenges of climate change, energy security and sustainability.

"The Institute has the potential to establish the UK as a world leader in energy technology research. It will help build a critical mass of R&D activity in an area that has great commercial as well as environmental potential across the globe.

"The major funding announced for this initiative, coming from both the public and the private sectors, has the potential to make a real difference to the UK's energy efficiency and carbon emissions. The Government's investment of up to £50 million a year will help restore the level of public spending on energy R&D, bringing us nearer to other leading economic nations - something the CBI has been pressing for.

"By supporting the development of emerging low carbon technologies, the Institute also fills a gap in current energy R&D funding. The UK is not short of innovative ideas, but has been lacking the capability to move these to the next stage. The direct involvement of business will help ensure there is a real focus to the research - by assessing which areas have the greatest potential for development and where there is genuine market demand.

"With a number of other initiatives out there, the centre must form part of a really joined up effort by Government in supporting new low carbon and energy efficient technology, to ensure we can meet the big challenges and opportunities ahead."

Media Contact:
CBI Press office on 020 7395 8239 or out of hours pager on 07623 977854.

Source: http://www.egovmonitor.com/node/7637