£246 million to be invested in battery technologies over next 4 years

greg clark

Greg Clark

New funding opportunities worth up to £85 million have been unveiled by Business Secretary Greg Clark under the Industrial Strategy Challenge Fund’s Faraday Challenge. 

Business and Energy Secretary Greg Clark has announced the launch of the first phase of a £246 million government investment into battery technology to ensure the UK builds on its strengths and leads the world in the design, development and manufacture of electric batteries.

Known as the Faraday Challenge, the 4-year investment round is a key part of the government’s Industrial Strategy. It will deliver a coordinated programme of competitions that will aim to boost both the research and development of expertise in battery technology.

Last month £16 million worth of funding was made available by the Industrial Challenge Fund for robotics and artificial intelligence technologies used in “extreme and challenging environments”.

Low-carbon technologies

The importance of innovation in battery technologies to low-carbon technologies was emphasised.

Professor Philip Nelson, Chief Executive 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. 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:

“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.”

Application for the funding opens tomorrow 25 July and deadline is midday 14 September 2017.

Collaborative research and development projects are expected to range in size from £1 million to £15 million and last up to 3 years. Feasibility studies are expected to range from £150,000 to £1 million and last between 3 and 12 months.

Apply for funding here (OPENS 25TH JULY)