There is a growing global demand for new and more efficient batteries to support the switch to electric transport. This demand is driven by plans by the UK and other governments to ban the sale of conventional petrol and diesel vehicles within the next two decades.
The battery supply chain could be worth £12 billion to the UK economy by 2025 if the country can establish itself as a global leader in battery technology.
The UK government's Industrial Strategy Challenge Fund Faraday Battery Challenge has up to £317 million to help businesses and researchers to develop market-leading battery technologies.
Innovate UK, as part of UK Research and Innovation, has up to £10 million from the fund to invest in feasibility studies and in research and development into promising and innovative battery technologies.
