Freeport East has entered into a strategic partnership with Innovating for Transport and Energy Systems (ITES) to advance clean transport technologies and enhance bilateral trade.
ITES, a program spearheaded by UK energy innovation experts Energy Systems Catapult in collaboration with the Indian Institute of Science, aims to revolutionize green transport solutions and attract substantial private-sector investment.
Last week, Freeport East CEO Steve Beel and Andrew Stokes from Energy Systems Catapult signed a Memorandum of Understanding (MOU) to expedite energy innovation in the transport sector.
ITES focuses on advancing technologies, business models, and infrastructure, including alternative fuels, battery and energy storage systems, green hydrogen, and electric charging methods.
The partnership also emphasizes energy and flexibility management systems, renewable generation, microgrids, and applications like digital twins.
The goal is to leverage Freeport East’s commitment to net zero and innovation, integrating it with ITES’ international partnership approach to create scalable public-private collaboration models for other freeports and publicly funded programs.
Furthermore, this partnership aims to encourage key industry players and public bodies to co-develop and deploy transport decarbonization projects, creating mutually beneficial investment opportunities and enhancing trade between India and the UK.
This collaborative effort will support relevant funding bids and attract public and private investments into ITES and other projects, driving innovation and sustainable development in transport within both nations.
India is a vital market for Freeport East, offering opportunities for attracting inward investment to the UK and creating new export prospects for UK companies.
By pooling resources and expertise, Freeport East and ITES aim to build impactful collaborations, significantly strengthening the trade and investment relationship between the UK and India. This united effort highlights the power of collaboration and the potential for mutual growth and success.
