West Midlands Businesses to Benefit from £24 Million Green Initiatives

By Anushka Malhotra

1 minute 31 seconds

Investment

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Quick Read: West Midlands businesses are set to receive a major boost with a new £24 million initiative aimed at enhancing energy efficiency. Mayor Andy Street and Minister Lord Callanan have unveiled the Government-backed Business Energy Advice Service (BEAS) pilot scheme, designed to assist businesses in the region to reduce their gas and electricity consumption. The large advanced manufacturing sector in the West Midlands makes it particularly energy-exposed, and the initiative offers free energy audits along with match funding of up to £100,000 for recommended energy-saving measures. Over 500 local businesses, including Alucast, have already joined the initiative, focusing on reducing energy consumption and supporting the region's transition to a net-zero future.

In a significant move towards fostering sustainability and supporting the transition to a greener economy, West Midlands Mayor Andy Street and Lord Callanan, the Minister for Energy Efficiency and Green Finance, have announced a new £24 million Government-funded initiative. The Business Energy Advice Service (BEAS) pilot scheme aims to assist thousands of businesses across the region in reducing their gas and electricity consumption.

The West Midlands, known for its thriving advanced manufacturing sector, has a higher concentration of energy-exposed businesses than any other part of the UK. To address this, the West Midlands Combined Authority is collaborating with local small and medium-sized enterprises (SMEs) to identify and fund innovative approaches that promote energy efficiency and contribute to the region's goal of achieving net-zero emissions.

As part of the BEAS pilot scheme, businesses can access a complimentary energy audit and apply for up to £100,000 in match funding to implement recommended measures. These measures may include investments in new machinery and equipment, enhancements to manufacturing processes, or the adoption of energy-efficient solutions such as LED lighting and insulation.

The official launch of the initiative took place at Alucast, an automotive component manufacturer based in Wednesbury. Alucast, one of the 500 local businesses already enrolled in the program, employs 126 people at its foundry. With 30 furnaces in operation, the company consumes 2.5 million kWh of electricity and 7.5 million kWh of gas annually, incurring a cost of £1 million.

Alucast Chairman, Tony Sartorius, emphasized the significance of the initiative, stating,

"The casting industry supports many other sectors in the economy. This is why it is described as a foundation industry and is so important in most modern economies. Our goal is to reduce energy consumption through micro-management by installing sub-metering, investing in more efficient furnaces, and educating our workforce on our energy savings and net-zero goals."

The BEAS pilot scheme is poised to make a substantial impact on the region's businesses by not only helping them reduce operational costs but also contributing to the broader environmental objectives. Interested businesses are encouraged to take advantage of the free energy audit and explore the funding opportunities available to support their journey towards sustainability.

West Midlands Health Tech Innovation Accelerator Unlocks Nearly £50M in Private Investment

The West Midlands Health Tech Innovation Accelerator (WMHTIA), led by the University of Birmingham, has generated an impressive £49.4 million in private co-investment within its first two years, significantly surpassing its original £14.5 million public funding allocation.

Funded through the Innovation Accelerator programme, coordinated by Innovate UK, the Department for Science, Innovation and Technology, and UK Research and Innovation, WMHTIA has become a leading force in advancing health technology innovation across the region.

The majority of the private investment—£36.3 million—was directly committed by investors to enterprises supported by the Accelerator. This achievement represents a threefold return on the initial public investment, demonstrating the strong investor confidence in the region’s health tech sector.

Powering Health Innovation Through Collaboration

The WMHTIA brings together 21 partners from academia, industry, and the NHS to help healthtech companies develop, validate, and commercialise cutting-edge medical technologies. So far, companies supported through the programme have also secured an additional £10 million in national public grants from agencies including NIHR, Eureka, and Innovate UK.

Including both public and private contributions, the total investment leveraged by WMHTIA now stands at £67.3 million.

Professor Adam Tickell, Vice-Chancellor, University of Birmingham:

We’re proud to support startups through the riskiest stages of innovation so more life-saving technologies reach patients. This exceptional investment proves what’s possible when academia, the NHS, and industry work together to drive economic growth and better health outcomes.

In March 2025, the Innovation Accelerator programme was extended with a further £30 million, including £4 million for the WMHTIA to continue supporting the region’s innovators in 2025/26.

Backing the Future of Health Tech

Richard Parker, Mayor of the West Midlands:

The West Midlands is leading medical tech innovation—from faster diagnoses to shorter hospital stays. Healthtech isn’t just improving lives; it’s creating secure, high-value jobs that drive inclusive growth.

Dean Cook, Executive Director of Place and Global, Innovate UK:

This programme shows how place-based innovation can unlock greater business investment in R&D. By connecting the region’s strengths, we’re creating high-value jobs and building globally significant innovation capability.

The WMHTIA continues to strengthen the region’s reputation as a national hub for health technology, with far-reaching benefits for patient care, job creation, and regional economic development.

By Anushka Malhotra

24 Jun