In the latest round of grants to be announced through the UK Government’s Faraday Battery Challenge, Deregallera Ltd and Tri-Wall Europe Limited have been allocated a share of £1.4 million to develop the latest battery technologies.
This new allocation will enable the creation of more highly-skilled, well-paid jobs across the country, boosting the economy and cementing Wales’ reputation for innovation excellence.
The fund forms part of the UK Government’s drive to maintain Britain’s place at the forefront of new technologies and emerging markets, through its modern Industrial Strategy.
Bringing together world-leading academia and businesses to accelerate the research needed to develop the latest electric car battery technologies, the Faraday Battery Challenge is a crucial part of the UK’s move towards a net zero emissions economy.
Secretary of State for Wales, Alun Cairns said:
The Industrial Strategy is a vital part of the UK Government’s plan to support sustainable green growth, creating opportunities and jobs in every corner of the UK.
This latest round of funding allocated to Wales in the Faraday Battery Challenge demonstrates the UK Government’s commitment to driving forward Welsh innovation and research. Investing in a greener future is a top priority for the UK Government and I look forward to seeing how the selected recipients maximise on the £1.4 million to put Wales at the forefront of green innovation.
The £23 million announced by Business Secretary Greg Clark forms part of the total £274 million that will be awarded to consortia across the UK through the Faraday Battery Challenge.
UK Research and Innovation Chief Executive, Professor Sir Mark Walport, said:
The Faraday Battery Challenge brings together the UK’s world-class expertise across research and industry to deliver battery technologies that will power the vehicles of the future.
The projects announced today emphasise how this collective expertise is being brought to bear on the biggest challenges facing the development of next-generation electric car batteries, from their power source and performance to safety and manufacturing.
- Caerphilly-based Deregallera is developing a new hybrid energy storage system to extend the life of an electric vehicle battery by 50%.
- Tri-Wall Europe is based in Monmouth.
- Other projects that were granted funding are listed.
- The ISCF is delivered by UK Research and Innovation (UKRI). UKRI is a new body which works in partnership with universities, research organisations, businesses, charities, and government to create the best possible environment for research and innovation to flourish.
- The Faraday Battery Challenge is a £274 million government investment into battery technology through the Industrial Strategy. It will develop safe, cost effective, durable, lighter weight, higher performing and recyclable batteries in the UK which will power the next generation of electric vehicles.
- As a key part of the UK government’s modern Industrial Strategy, the Future of Mobility Grand Challenge was announced in 2017 to encourage and support extraordinary innovation in UK engineering and technology, making the UK a world leader within the transport industries.
- This includes facilitating profound changes in transport technologies and business models, to make the movement of people, goods and services across the nation greener, safer, easier and more reliable.