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Businesses and organizations will soon have access to information about environmental risks and how to mitigate them through innovative climate services. Ten new projects supported by the UK Space Agency will utilize Earth observation tools, satellite tracking, and data on population demographics, all powered by Artificial Intelligence (AI).

These projects aim to create forecasts and models that can be utilized by various sectors, including agriculture, energy, finance, and insurance. Their goal is to not only help businesses and governments understand and reduce risks but also identify opportunities for green financing to support sustainable business growth.

The Minister of State at the Department for Science, Innovation and Technology, George Freeman MP, expressed his support for these innovative projects, stating that by utilizing modern technology like satellite data, AI, and Earth observation, the UK can drive economic growth while establishing itself as a major player in space.

The CEO of the UK Space Agency, Dr. Paul Bate, emphasized the importance of funding early-stage innovations to accelerate the development of powerful tools that can benefit a wide range of users. The selected projects will receive up to £55,000 in funding to begin development in September. These services will provide the most up-to-date view of environmental contexts using Earth observation data, covering aspects such as methane and nitrous oxide emissions, watercourse resilience, biodiversity changes, and decarbonizing technologies.

One of the applications, developed by EOLAS Insight Ltd, will focus on watercourse resilience, offering businesses valuable insights into the impact of global temperatures on local watercourses and the benefits of investing in mitigation strategies like riverside woodland schemes.

This latest funding injection of £530,000 represents the second round of investment by the UK Space Agency into climate services development. It complements the earlier £85,000 funding awarded to nine UK organizations, including some of the projects in their early stages. These initial funds allowed these organizations to demonstrate the potential of their ideas.

For further information on this initiative, please click [here].

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