Faraday Institution dishes out £42m in battery R&D funding
The UK government has this week handed over the first installment of a £65m battery storage R&D fund through its recently launched Faraday Institution.
The agency announced that a new £42m funding package will be divided between four projects working on how to improve the performance and reduce the environmental impact of battery technologies.
Under the programme Cambridge University will lead a group of universities carrying out research into extending electric vehicle battery life; Imperial College London will lead a group undertaking work to improve battery system modelling; Birmingham University will lead a group looking at improving methods for recycling and reusing batteries; and Oxford University will lead a group looking at the development of next generation solid state batteries.
The Faraday Institution said a further £4.6m is being invested by industry partners, but it added that it was not able to identify them at this stage.
“We are committed to making Britain the ‘go-to’ destination for the development and deployment of this game-changing technology,” said Business Minister Richard Harrington.
“Government investment… will deliver valuable research that will help us seize the economic opportunities presented by battery technology.”
The Faraday Institution was launched in October last year by Business Secretary Greg Clark as part of the government’s Industrial Strategy.
Source: Business Green