Prestige Funds Supports New Academic Prize For Research In Clean Energy Technology

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Prize is intended to encourage new talent to research innovation in anaerobic digestion and energy from waste.

CAMBRIDGE, 4 October 2019: A new GBP2,500 / USD3,125 prize aimed at attracting new talent into the anaerobic digestion (AD) and energy from waste (EfW) industries has been launched by Privilege Finance, part of the Prestige Funds Group.

Privilege Finance is one of the specialist commercial lending operations responsible for the secured lending strategies offered by Prestige Funds. Its focus is on lending to small businesses and clean energy projects in the UK’s food agriculture sectors. 

The Energy from Waste Innovation Prize is open to undergraduate and postgraduate university students in the UK completing a dissertation related to energy from waste or renewable energy technology and engineering.  

With a prize-fund of GBP1,000 / USD1,250 up for grabs for the winner, two runners up will also each receive GBP750 / USD937.50 upon completion of their research, as well as 12 months of mentoring from the award founder, Privilege Finance. 

“We’re keen to support new talent in the renewables and EfW sectors,” explains Chris Winward, commercial director at Privilege. “With a growing focus on developing the UK’s circular economy, new and existing technologies that use waste materials to generate a sustainable source of energy will become ever more important. 

“To make sure the UK is at the forefront of this technology, we need to encourage, attract and retain fresh talent,” he adds.
The prize fund has been developed to bring students with a flair for innovation, problem solving and ‘outside the box’ thinking, to the fore. The three finalists will also be offered access to Privilege’s business contacts, network and potential future research and development projects. 

“Investment in clean energy and in the technical talent we need to deliver innovation in this sector is going to be critical if the UK and other countries are to meet their targets under the Paris Climate Change Agreement,” added Craig Reeves, Founder of Prestige Funds. “We and our clients are continuing to develop vital renewable energy generating capacity in the UK, both on farm and off farm, helping in the critical battle against climate change and global warming. Given that Privilege is based in Cambridge we have a wealth of world leading potential talent on our doorstep.” 

Applications are now open, and further details on the award and how to apply can be found on the company’s website: 

 https://www.privilege.finance/privilege-innovation-fund/

The Macro Environment 

Rising electricity prices in the UK and higher taxes on landfill are causing these businesses to turn to green energy projects as a source of on-farm energy, utilising existing waste. The UK will potentially have to source up to 20% of its gas supplies from renewable sources within ten years and entirely stop burning coal to generate electricity within 15 years. Additionally, the use of landfill is also expected to stop within 15 years. However, farming and food production is also the second largest producer of C02 after energy production.

About Prestige Funds

Founded in 2007, Prestige consists of several companies under common ownership and control. The objective of this enterprise is to provide professional, innovative financial products and services to a diverse international client base and to deliver consistent, positive investment returns.
 
Prestige is also committed to continuously improving all areas of its business while empowering and developing its diverse team of professionals - many of whom come from senior positions within banking, finance and investment management.
 
The key strengths of Prestige are People, Processes and Systems
 
Prestige was established just months before the largest ever global financial crisis which continues to significantly shape many aspects of our world today in economic, political and social terms.
 
Since then, and against many odds, Prestige has successfully launched several businesses and innovative financial products and services that now includes a team of over 100 professionals in the UK and several international financial centres as well as raising over USD 1.9 billion. It is testament to the hard work of its various teams, the systems and processes used, and the products and services created that the Prestige business continues to grow and evolve.


Press release distributed by PressHalo on behalf of Prestige Asset Management, on 4th October, 2019.