- Transformative partnership aims to accelerate clean transport technologies, attract private sector investment and boost bilateral trade.
- The agreement will deepen ties between the UK and India, creating new avenues for trade and investment and bring together key industry players and public bodies to kickstart Net Zero transport projects.
- Innovative businesses in the UK and India are set to benefit from the collaboration, which will drive industry engagement and funding for new solutions.
Innovating for Transport and Energy Systems (ITES) has announced a strategic partnership with Freeport East to advance innovation in clean transport technologies and boost bilateral trade.
The collaboration aims to transform green transport solutions and attract significant private-sector investment.
Freeport East CEO Steve Beel and ITES’s Andrew Stokes signed a Memorandum of Understanding (MOU) last week (Thursday 25 July) to create a collaboration that will help fast-track energy innovation in the transport sector.
Andrew Stokes, ITES UK Lead and Business Leader – International at Energy Systems Catapult, stated:
“ITES is empowering UK innovators to achieve transformative growth in India. Our partnership with Freeport East will set a precedent for collaboration that other publicly funded programmes and freeports can emulate.”
Steve Beel, CEO of Freeport East, remarked:
“We are delighted to be working with the Energy Systems Catapult and the Indian Institute of Science as part of the ITES programme. India is one of the world’s most exciting markets for innovation and offers significant opportunities for UK businesses to export their products and services. This agreement will help us support UK and India objectives whilst building mutual growth and trade opportunities in green transport.”
Jack Landers, Science Team Leader at the British High Commission in New Delhi, India commented on the new partnership:
“Following the Foreign Secretary’s recent visit to meet with the Indian Prime Minister Narendra Modi and the clear commitment on both sides to build our bilateral relationship, this agreement will help further our common interests whilst building mutual growth and trade opportunities in green transport. We look forward to supporting Freeport East and ITES as they deliver this exciting new partnership”
Alexandros Germanis, Partner, Greencrowd Partnership LLP, comments:
“We’re honoured to advise and support the ITES programme in its engagement with Freeport East and other innovative UK and Indian businesses. We believe the more private sector businesses join us in this endeavour, the greater our collective impact will be in supporting innovators to solve India’s transport decarbonisation challenges.”
ITES focuses on advancing technologies, business models, and infrastructures. This includes promoting alternative fuels, battery and energy storage systems, green hydrogen, and electric charging methods. Additionally, there will be an emphasis on energy and flexibility management systems, renewable generation, microgrids, and applications like digital twins. The collaboration aims to leverage Freeport East’s mandate for net zero and innovation, integrating this with ITES’s international partnership approach to create scalable models of public-private collaboration for other freeports and publicly-funded programmes.
Moreover, this partnership between Freeport East and ITES aims to encourage key industry players and public bodies to co-develop and deploy transport decarbonisation projects by creating mutually beneficial investment opportunities and enhancing bilateral trade between India and the UK. This collaborative effort will support relevant funding bids and attract public and private investments into ITES and other agreed-upon projects, ultimately driving innovation and sustainable development in transport within both nations.
India is a crucial market for Freeport East, both for attracting inward investment to the UK and creating new export opportunities for UK companies. By pooling resources and expertise, Freeport East and ITES are not just building networks but forging impactful collaborations. The shared goal is to significantly strengthen the trade and investment relationship between the UK and India, underscoring the importance and impact of this partnership. This united effort demonstrates the power of collaboration and the potential for mutual growth and success.
