Sir Richard Branson throws down gauntlet for renewables sector

A GLOBAL green energy competition with a £400,000 prize has been launched in Edinburgh.

Sir Richard Branson is supporting the Postcode Lottery Green Challenge, which aims to reduce greenhouse gas emissions through sustainable business ideas and inventions.

The winner will receive £400,000 to develop and create their product within two years, and Sir Richard is calling on all entrepreneurs to enter the online competition.

He said: “The UK has long been a nation of inventors, creating ideas that last a lifetime. The Postcode Lottery Green Challenge is about using that innovation to make a real difference to climate change, and we are calling on all British entrepreneurs to enter the competition.

“A great British idea could be the next thing to shake up the way we do business and help tackle climate change.”

Dean Gregory won the competition in 2009 for his Ridge-Blade MicroGeneration design, a rooftop turbine which harnesses wind power to produce electri-city for homes.

Mr Gregory, 49, said: “The moment of inspiration came from frustration at the current formats available for micro-turbines, and we wanted to develop a product that could be used almost anywhere without attracting planning objections.”

Entrants can submit business plans online for products or services which are able to directly reduce CO2 emissions.

The Scottish Government is supporting the project, which is now in its sixth year, as it continues towards its green energy targets.