The energy sector has bagged the largest amount of investment from the government's innovation fund designed to boost Britain's business and economic growth.
Focused on the areas of energy security, affordability and sustainability, projects outlined by the board include up to £10m to support an offshore renewable energy hub, up to £2m for shale gas technologies and up to a million for next generation solar technologies.
Another £1.5m will go towards establishing an Energy Systems Catapult, a global centre for developing new services and products for energy systems.
The UK energy supply industry contributed 3.5 per cent of GDP in 2012.
By 2050, offshore renewable energy could account for 10 per cent of the global market value in marine energy and almost 12 per cent in offshore wind, adding £34bn gross value added.