The main aim of Renew Tees Valley Ltd is to promote the Tees Valley as a centre for renewable energy and waste management technologies, leading to new economic activity. This will come through inward investment, the creation of new businesses, and helping existing local businesses to develop/diversify into new markets in renewable energy and recycling.
One of the keys for Renew Tees Valley is to make it easy for companies that are interested in renewable energy or recycling to develop their businesses here. Another is to ensure that across the Tees Valley we have an integrated approach to sustainable development and waste management.
Renew Tees Valley Ltd is a company limited by guarantee, with initial funding for the first two years provided through the Tees Valley Partnership on behalf of the Regional Development Agency (ONE NorthEast). It operates across the five borough councils that make up the Tees Valley. The company aims to use this funding to leverage additional funds.
Renew Tees Valley is assembling a high-powered team characterised by commercial realism and a wide range of industrial contacts, who are skilled and experienced in developing creative and pragmatic solutions to the problems of bringing lab-scale developments to the market. They work with a range of partners, from industrialists seeking scale-up help to universities looking for assistance to spin out technology.
Renew Tees Valley's approach is characterised by action. They provide the vital link in the chain that takes renewable energy and recycling technologies from development to the marketplace. They talk to companies who are interested in renewable energy and recycling. They work with SMEs in Tees Valley who have got new and varied ideas in the fields of renewable energy and recycling. The idea is to help them expand and diversify their businesses into these new areas in which annualised growth rates of around 10% are predicted.
Renew Tees Valley has, through its board of directors, links into the newly-established centres of excellence for new and renewable energy and for process innovation (NaREC and CPI), The Welding Institute (who are developing new approaches to fabrication and maintenance for renewables), The Northern Energy Initiative (TNEI), the Environmental Industries Federation (EIF), and Tees Valley Regeneration € the area€s key generator of physical development and inward investment.