In a move aimed at powering its transition to a low-carbon economy with energy storage, the UK is set to fund battery technology research to the tune of £246m ($320m).
Business and energy secretary Greg Clark is scheduled to announce a four-year investment round, called the Faraday Challenge, today.
According to the Business, Energy and Industrial Strategy (BEIS) department, the funding will be distributed through three competition streams that will aim to boost UK-based R&D in storage technology.
A £45m research competition will be led by the Engineering and Physical Sciences Research Council (EPSRC) and will begin by creating a Battery Institute. This will consist of a consortium of universities and will aim to address the key industrial challenges in battery development.
The next stage will be led by innovation funding body Innovate UK, which will hold R&D competitions designed to bring the most promising results of the Battery Institute closer to market.
For stage three, a competition led by the Advanced Propulsion Centre will focus on scaling up battery technology. The competition is aimed at finding the best proposal for a new open access National Battery Manufacturing Development facility.
Professor Philip Nelson, head of the Engineering and Physical Sciences Research Council (EPSRC), said batteries “will form a cornerstone of a low carbon economy, whether in cars, aircraft, consumer electronics, district or grid storage” and that “to deliver the UK’s low carbon economy we must consolidate and grow our capabilities in novel battery technology”.
Ruth McKernan, Innovate UK Chief Executive said: “By any scale, the Faraday Challenge is a game changing investment in the UK and will make people around the globe take notice of what the UK is doing in terms of battery development for the automotive sector.
“The competitions opening this week present huge opportunities for UK businesses, helping to generate further jobs and growth in the UK’s low carbon economy.”
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