This week the Faraday Institute, formed from the Government’s Modern Industrial Strategy, announced a further £42 million in new government funding to revolutionise battery energy provision.
The Modern Industrial Strategy and this funding aims to invest in the skills and industries of the future. The Faraday Institute’s goal is to make the UK the go-to place and world leader for battery technology research and it has a clear mission to ensure the UK is well placed to take advantage of the future economic opportunities from this emerging technology.
- The Faraday Institute is the UK’s independent national battery research institute, and was established as part of a £246 million investment in battery technology through the Industrial Strategy.
- The funding has gone to four UK-based consortia to conduct application-inspired research aimed at overcoming battery challenges to accelerate the electric vehicle (EV) revolution.
- This research hopes to put the UK at the forefront of battery technology worldwide. It has the potential to increase the speed of electric vehicles.
Great news for our clients interested in next generation batteries, and electric vehicles.