Innovative, high-efficiency engine technology will reduce greenhouse gas emissions and fuel costs by a third when used for stationary power generation
Haywards Heath, East Sussex, UK, 2 February 2012 – Ultramo Engines has made the shortlist of companies vying for the prestigious 2012 Shell Springboard awards. Each year, through its Social Investment Programme, Shell donates £320,00 in eight awards of up to £40,000 to UK-based SMEs, which demonstrate commercially viable and innovative business ideas to reduce carbon emissions.
Ultramo is developing an innovative, high-efficiency engine that will reduce greenhouse gas emissions and fuel costs by a third when used for stationary power generation. The company believes that improving the efficiency of the internal combustion engine will enable global economies to better transition to more sustainable forms of energy, including de-centralised power generation and renewable technologies.
“Commercial viability is one of the key criteria for the Shell Springboard awards, and one of our aims in developing the Ultramo engine is to produce technology that doesn’t require government subsidies in order to be financially viable,” commented Bruce Balmer, Ultramo’s chief executive. “The cost savings due to the dramatically improved fuel efficiency will give a 12-month payback for megawatt Ultramo engines. We believe that our ‘viable green’ approach will help generator companies to bridge the gap to more widespread use of renewables.”
Shell will announce the award winners from 24 finalists at regional events on the 7th, 15th and 22nd of February.
About Shell Springboard
Shell Springboard is fully funded and managed by Shell. It provides a financial boost to innovative, low carbon business ideas from across the UK. Since being set up in 2005, Shell Springboard has provided awards totalling over £2 million to more than 50 companies with no strings attached. Through Shell Springboard, Shell supports small to medium sized enterprises in the UK with innovative ideas to seize the commercial opportunities presented by climate change.