A new accelerator programme to fast track climate tech and renewable energy start-ups has been launched by NovaUCD and PTSB.

The 'Energy Futures Accelerator Programme', which will open for applications this autumn, will provide mentoring and financial advisory support to early-stage Irish companies.

The programme aims to help accelerate commercialisation and business growth by combining NovaUCD’s innovation expertise with PTSB’s financial and business advisory capabilities.

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Director of innovation at University College Dublin Liam Cronin said: “The focus of this dedicated programme, delivered by NovaUCD in collaboration with PTSB, will be to support emerging and young Irish start-ups, focused on addressing key climate and sustainability challenges, to fast track their commercial viability to meet their global ambitions, drawing on UCD's expertise in this area including the UCD Energy Institute.

“Applications for the programme will open this autumn and the programme is planned to commence in early 2027.”

Lending fund

PTSB also announced a new €250m lending fund, which will provide finance for business customers investing in projects that deliver positive environmental or social benefits to society.

The bank said that the fund will lend to a range of projects such as renewable energy, energy efficiency measures, sustainable agriculture and sustainable transport.

Chief retail banking officer at PTSB Patrick Farrell said: “The launch of our €250m impact lending fund is a significant milestone for PTSB and reflects our ambition to deepen our support for Irish SMEs. We know that businesses increasingly see sustainability not just as a responsibility, but as a commercial opportunity.

“We are also delighted to partner with NovaUCD to launch the 'Energy Futures Accelerator Programme', helping emerging businesses maximise new opportunities for growth as demand for sustainable solutions continues to increase.’’