Energy giant E.ON has today launched a new nationwide competition for engineers, technologists and entrepreneurs working on new ideas to improve products' energy efficiency.

Run in conjunction with technology start up consultancy LIFE-IC the new award aims to recognise engineers developing new energy efficient technologies. The winner will receive a cash prize of £5,000 plus consultancy and support from LIFE-IC to help them commercialise their idea.

A spokeswoman for E.ON said the competition was aimed at engineering students, professionals and start up entrepreneurs keen to gain backing and support for their energy efficient innovations.

The competition will be run alongside E.ON's EnergyLab award, which was launched last year and is open to anyone with an idea on how to improve energy efficiency.

Last year, the £10,000 prize was won by a housewife and teaching assistant from Leicester who thought up a technology for reducing water and energy use in the bath.

Ideas for both competitions need to be submitted before November 30th and will be considered by a panel of experts, including TV presenter Philippa Forrester and Dave Clarke, head of low carbon strategy at E.ON UK’s Technology Centre.

"Those that make the short list get one-on-one sessions with the judges where they get feedback and advice on how to make their ideas more technically viable and business friendly," said a spokeswoman for E.ON.