ETZ
ITC Hydraulics & Manufacturing Ltd have been awarded a grant by ETZ to assist in the development and manufacture costs of ITC’s unique Combi-Reeler® for use in the renewable and low carbon markets.
ITC’s award was part of a £1.47 million grant to ten North East Scotland firms as part of the ETZ Challenge Fund which is focused on driving the energy transition and creating jobs.
The Challenge Fund provides the help for companies to shift their focus from oil and gas to take advantage of opportunities in green energy. The Fund is backed by the Scottish Government’s £500 million Just Transition Fund, which launched in 2021.
Acting Scottish energy secretary, Gillian Martin, launched the fund announcements during a visit to Aberdeen on Monday the 26 th August, and said “Scotland has an established track record in promoting renewable energy”. Commenting further “We are at the forefront of its technology development and generate the majority of our electricity from renewable sources – ensuring we play a crucial role in the UK’s overall energy landscape.”
ETZ’s Energy Supply Chain Programme manager Freda Miller said “The ten firms set to receive funding in this third round, showcases the scale of pioneering work being done in the region” and “the supply chain is the lifeblood of our sector,”
ITC’s MD, Tracy Clark, commented “This grant allows us to accelerate the development and deployment of our inhouse developed Combi-Reeler®, its’ unique design reduces the equipment footprint, manning levels, and operational risks which leads to a more cost effect service which is critical in low carbon markets.” She further commented “I would like to thank ETZ for all of their assistance in gaining this grant and wish the other 9 companies all the best in developing their own offerings”.
