Faraday Institution will award £55M to UK-based consortium for battery research
The UK’s Faraday Institution has announced that it will grant an amount of up to £55 million for battery research, so that battery enhancements for transport and grid storage can be accelerated in the country.
According to the announcement, the £55 million grant will be awarded by Faraday Institution to a UK-based consortium to undertake battery research. The consortium will be led by the University of Oxford, and will comprise five other university partners as well as six industry partners.
The consortium will undertake research on battery chemistries, systems, and production techniques. The key focus of the consortium will be on potential improvements in the production of electrodes in order to support the manufacturing of lithium-ion batteries.
In reference to the £55 million grant for battery research, Faraday Institution CEO Neil Morris said that the dual objective behind the grant portfolio is to improve present-generation lithium-ion batteries and to shore up the commercialisation of next-generation batteries.
Highlighting the fact that the £55 million grant announced by the Faraday Institution will back scientists and innovators to collaborate on battery-research projects, Business Minister Nadhim Zahawi said that the collaborative projects will help deliver “a brighter, cleaner future” on UK roads. Zahawi also added: “We are committed to ensuring that the UK is at the forefront of developing the battery technologies needed to achieve our aim for all cars and vans to be effectively zero emission by 2040.”