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£246m government investment to make UK world leader in battery technology

By / 3 years ago / UK News / No Comments

Business and Energy Secretary Greg Clark has announced the first phase of a £246m investment in battery technology intended to establish the UK as a world leader.

Woman using EV charger in car park

The £246m investment in battery technology is intended to establish the UK as a world leader. Image: Chargemaster

Known as the Faraday Challenge, the four-year investment round includes the launch of a £45m ‘Battery Institute’ competition led by the Engineering and Physical Sciences Research Council (EPSRC), to establish a centre for battery research. The most promising research completed by the institute will be moved closer to the market through industrial collaborations led by Innovate UK.

The investment, a key part of the Government’s Industrial Strategy, will also see the Advanced Propulsion Centre work with the automotive sector to identify the best proposition for a new open access National Battery Manufacturing Development facility.

Mr Clark said: “The work that we do through the Faraday Challenge will – quite literally – power the automotive and energy revolution where, already, the UK is leading the world.”

The announcement comes as the Government and Ofgem also revealed plans to bring smart energy technology to businesses and homes, enabling consumers to use energy when it is cheapest or be rewarded for returning it back to the grid when it is needed.

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.