Improved energy efficiency is imperative to minimise the greenhouse gas emissions and to ensure future energy security. It is also a key to continued profitability in energy consuming industry. The project CREATIV is a research initiative for industry energy efficiency focusing on utilisation of surplus heat and efficient heating and cooling. In CREATIV, international research groups work together with key vendors of energy efficiency equipment and an industry consortium including the areas metallurgy, pulp and paper, food and fishery, and commercial refrigeration supermarkets. The ambition of CREATIV is to bring forward technology and solutions enabling Norway to reduce both energy consumption and greenhouse gas emissions by 25% within 2020. The main research topics are electricity production from low-temperature heat sources in supercritical CO2 cycles, energy efficient end-user technology for heating and cooling based on natural working fluids and system optimisation, and efficient utilisation of low temperature heat by developing new sorption systems and compact compressor-expander units. A defined innovation strategy in the project will ensure exploitation of research results and promote implementation in industry processes. CREATIV will contribute to the recruitment of competent personnel to industry and academia by educating PhD and post doc candidates and several MSc students. The paper presents the CREATIV project, discusses its scientific achievements so far, and outlines how the project results can contribute to reducing industry energy consumption.