Multimillion boon for UK's battery technology sector

Multimillion boon for UK's battery technology sector

The announcement will be made by the Secretary of State for Business, Energy and Industrial Strategy Greg Clark later today in Birmingham, at an address to the Resolution Foundation think tank.

In a separate announcement, energy regulator Ofgem is expected to outline plans for people across the United Kingdom to generate and store their own electricity to help reduce bills.

The government's announcement follows a review, commissioned as part of an industrial strategy consultative paper, by Sir Mark Walport - in which he identified areas where the United Kingdom had strengths in battery technology and could benefit from funding.

Led by the newly formed Faraday Challenge Advisory Board, the competitions will be divided into three streams across research, innovation and scale-up principles.

The government will today announce a £246m (Rs 2,421 cr) investment in battery technology for electric vehicles as it aims to "establish the United Kingdom as world leader" in the sector. BEIS commented: "With over a quarter of the UK's electricity being generated through renewables and the costs of technologies like battery storage rapidly decreasing, there are significant opportunities to secure economic benefits for businesses and households across the country".

Clark said the UK's Engineering and Physical Sciences Research Council (EPSRC) will spearhead a £45m ($58.7m) competition "to bring the best minds and facilities together to create a Battery Institute".

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In its first major move to support the nascent battery revolution, the Government will set up a "battery institute" to award hundreds of millions of pounds to companies on the brink of major research and development breakthroughs. The Faraday Challenge forms one of six areas identified by the government as a core industrial challenge.

"If every part of Britain is to prosper in the future we need to ensure that we have the right policies and institutions in place to drive the productivity - which is to say, the earning power - of the economy, and the people and places that make it up". If we can do so, we can increase the earning power of our country and our people.

The Advanced Propulsion Centre will work with the automotive sector to identify the best proposition for a new state-of-the-art open access National Battery Manufacturing Development facility.

"Later in the year we will respond formally to the consultation with a White Paper, but the shape of it is already becoming clear".

Today's announcement follows a review by Sir Mark Walport, which identified battery technology as an area the United Kingdom could benefit from.

"We are pleased to see the Government recognising the importance of scientific research as part of the Industrial Strategy".