Strategic energy management consultancy ZTP is pleased to announce that in collaboration with Kent Business School (KBS) and School of Mathematics, Statistics and Actuarial Science (SMSAS) at the University of Kent, they have secured significant funding from Innovate UK, to develop its first collaborative Knowledge Transfer Partnership (KTP) project.
Innovate UK is UK’s innovation agency. It is a UK non-departmental public body operating separately from the Government reporting to the Department for Business, Energy and Industrial Strategy (BEIS). Innovate UK is now part of UK Research and Innovation.
The partnership between the schools and the agency will undertake an exciting two-year project to design and build risk management algorithms that will enable UK and multi-national businesses to mitigate risk associated with open energy market positions. The product will engage stakeholders from multiple countries and aggregate risk reporting to a single reporting facility.
Commenting on the funding award Alex Hill, Managing Director of ZTP, said:
“We are thrilled to have secured funding from Innovate UK, as this will enable ZTP, KBS and SMSAS, to develop a risk management product which will transform how multi-national businesses procure energy. With energy costs rising due to both fundamentals in the wholesale market and increased non-commodity costs, there is a real need for a risk management solution which will enable multi-national businesses to protect themselves from the unpredictably of the open energy market, and to maximise savings on energy use and costs.”
Martin Mayer, School Director at Kent Business School added:
“I am delighted about this latest KTP project. Our School is developing a reputation for delivering impact in sustainable innovation and this project with ZTP is yet another opportunity to demonstrate this.”
Learn more about Kent Business School’s (KBS) undergraduate and postgraduate programmes, as well as the School of Mathematics, Statistics and Actuarial Science (SMSAS) courses.