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Prior notice United Kingdom

Climate Innovation Pull Facility (CIPF)

Reference ocds-b5fd17-290d26a0-85d4-4e87-844e-f0b2d77a2ee7 · DESNZ

Prior notice.

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Description

The UK Department of Energy Security and Net Zero is exploring the development of a new facility - the Climate Innovation Pull Facility. Through pull finance, this facility will support innovation, scale up and market building for climate change mitigation solutions for developing country contexts, focusing on innovative clean energy technologies and business models in a small number of specific applications/sectors, where the evidence shows support is most needed. The planned facility is up to £185m and is part of the Department's International Climate Finance portfolio and funded with Official Development Assistance (ODA). In public innovation financing, "pull mechanisms" create incentives for innovators and other actors by creating viable market demand. They seek to reduce viability gaps and induce innovation by signalling demand for solutions to specific problems. Mechanisms often cited include Advanced Market Commitments, Results or Outcomes Based Financing, Prizes/Challenges, innovation bulk procurements, Contracts for Difference, among others. By contrast, much innovation support has to date utilised "push mechanisms" directly subsidising up-front R&D costs. In term…

Official publications

MediumReferenceDate
FTS 65ef68a5-dc57-4bfe-b4f3-616d171df50e-772553 30 July 2024
Contracts Finder 65ef68a5-dc57-4bfe-b4f3-616d171df50e-772553 30 July 2024

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Data collected from official public procurement sources. Amounts as published by the buyer.