Ofwat Doubles Innovation Fund to £400m to Transform Water Sector
Funding | Jan 29, 2025 | Business Cloud
The Ofwat Innovation Fund, established in 2020, will double from £200 million to £400 million, aiming to support transformation within the UK water sector. The fund's goal is to back projects that collaboratively develop new solutions to the industry's major challenges, such as ending overuse of storm overflows, cutting greenhouse gas emissions, reducing leaks, and reaching net zero emissions. The funding will extend until 2030, supporting initiatives like the Water Breakthrough Challenges and introducing new streams for implementing and scaling innovative projects. The fund so far has backed 93 projects involving over 240 partners, including companies and organizations across multiple sectors, and is backed by partners Challenge Works, Arup, and Isle Utilities in delivering its mission.
Sectors
- Water Sector
- Environmental Technology
Geography
- United Kingdom – The article centers on initiatives and funding within the UK's water sector led by Ofwat.
Industry
- Water Sector – The core focus of the article is the water sector, with discussions about innovations and funding aimed at transforming water infrastructure and operations.
- Environmental Technology – The article highlights the support for technology solutions that can tackle environmental challenges within the water sector.
Financials
- £400 million – The total amount committed to the Ofwat Innovation Fund aimed at supporting innovations in the water sector until 2030.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ofwat | Regulator | Government | Ofwat is leading the innovation fund aiming to transform the water sector in the UK. |
| Challenge Works | Fund Delivery Partner | Company | Nesta enterprise's Challenge Works is collaborating in delivering the Ofwat Innovation Fund. |
| Arup | Collaborator | Company | Engineering firm Arup is a key partner working on delivering the fund's objectives. |
| Isle Utilities | Collaborator | Company | Isle Utilities is involved in collaborating on projects funded by the Ofwat Innovation Fund. |
| ChangeMaker 3D | Partner in Funded Project | Company | ChangeMaker 3D is a partner in a winning project of the Water Breakthrough Challenge supported by the fund. |