The event coincides with the publication of report, which indicates how the drive for low-carbon road transport is good for the economy, jobs, growth and exports – as well as the environment.
Dubbed 'Fuelling Britain's Future', by Cambridge Econometrics, the study suggests that, by 2030, fuelling the average low-carbon car could be £600 cheaper per annum than today.
Researchers found that a continuing focus on cutting carbon from road transport could lead to CO2 emissions from the UK car and van fleet reduced by 47% by 2030, and 80% in 2050.
Advances in engine efficiency, lighter construction materials, more efficient tyres and the introduction of electric propulsion will reduce running costs even further, argues the report.
Key innovations at today's event include: Celtic Renewables' work on biobutanol as a biofuel from the Scottish malt whisky industry: Controlled Power Technologies' powertrain, power electronics and control software; GnewtCargo's electric vehicles and advanced logistics; Mercury Fuel Systems' dual-fuel LPG/diesel systems; Meteor Power's downsized low carbon, hybrid engine; and Tevva Motors' range-extended electric urban delivery truck.
Cambridge Econometrics' future-gazing report echoes the findings of the LowCVP's retrospective study, 'Investing in the Low Carbon Journey', published last year.
Speaking at the parliamentary reception, LowCVP managing director Andy Eastlake said: "Innovators like these demonstrate the vitality of the automotive and fuels sector, and highlight the prospects for future growth."
"We're very encouraged by this study and are strong supporters of innovation in low carbon propulsion systems, several of which have been presented by the LowCVP today," commented Tony Pixton, chief executive of the Advanced Propulsion Centre.
Today's event is aimed at ministers and senior officials from DfT, DECC, BIS, the Treasury and Defra.