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ETI response to Green Investment commission report

29 June 2010

29th June 2010


Dr David Clarke, ETI Chief Executive said: "We have read the recommendations of the report by the Green Investment Bank Commission and welcomed the opportunity to input during its development.
The proposals will now be considered by the Government and, with our private sector investors, the ETI will continue to input into the development of the Green Investment Bank.


It is important to recognise that the ETI is a private-public partnership involving major global industries – BP, Caterpillar, EDF, E.ON, Rolls-Royce and Shell – working with the UK Government as a Limited Liability Partnership and as such is not a quango. We invest in large scale engineering projects on a commercial basis and are not a grant giving body. In the last 18 months we have invested £60m in 24 technology development and demonstration projects and have another £100m of projects in development. ETI projects are developing affordable, low carbon energy in offshore wind, marine, distributed energy, buildings, energy storage and distribution, carbon capture and storage, transport and bioenergy. The investment from our private sector industrial members helps us to unlock expertise, experience, access to skills and manufacturing supply chains that would not otherwise be available. The ETI investment approach is very much in line with the proposals in the report, which recommend that Government funding for low carbon innovation should be channelled through “commercially structured investments” which would allow the UK to double or treble the private sector leverage, while doubling the pace of development. The Commission also recommends that support for the delivery of UK’s emission reduction targets should be based on a “public-private investment model and address specific market failures and investment barriers in a way that will achieve emission reductions at least cost to taxpayers and energy consumers.”  This aligns with the structure and operation of the Energy Technologies Institute."

Notes to EditorsThe Energy Technologies Institute is a UK based company formed from global industries and the UK Government. The ETI brings together projects and partnerships that create affordable, reliable, clean energy for heat, power, transport and the supporting infrastructure. The Energy Technologies Institute aims to develop projects that develop and demonstrate affordable, reliable, clean energy for heat, power, transport and the supporting infrastructure.  This will accelerate the reduction of greenhouse gas emissions by increasing commercial investor confidence in deployment of a range of low carbon solutions.  This will also increase the security of energy supplies.

For more information, please go to: www.energytechnologies.co.uk


  • The ETI’s six private sector members are BP, Caterpillar, EDF Energy, E.ON, Rolls-Royce and Shell. The UK Government has committed to match support from four further Members.  The ETI’s public funds are received from the Department for Business Innovation and Skills through the Technology Strategy Board and the Engineering and Physical Sciences Research Council (EPSRC). These organisations, together with the Department for Energy and Climate Change (DECC), are engaged directly in the ETI’s strategy and programme development.

  • The ETI will accelerate the deployment of affordable, secure low-carbon energy systems from 2020 to 2050 by demonstrating technologies, developing knowledge, skills and supply-chains and informing the development of regulation, standards and policy.


For further information please contactETI PR Manager Nigel Richardson on 01509 202084/07827 946064