The UK Department for Business, Energy and Industrial Strategy (BEIS) today announced the start of its GBP-246-million (USD 319.8m/EUR 274.6m) four-year investment in battery technology, known as the Faraday Challenge.
The government has kicked off the investment programme, which it says is a key part of its industrial strategy, with the launch of a GBP-45-million competition to set up a centre for battery research. Research is one of the three streams of the Faraday Challenge's competitions, with the other two being innovation and scale-up.
"Batteries will form a cornerstone of a low carbon economy, whether in cars, aircraft, consumer electronics, district or grid storage," noted professor Philip Nelson, chief executive of the Engineering and Physical Sciences Research Council (EPSRC).
Business and Energy Secretary Greg Clark is today giving a keynote speech on the industrial strategy in Birmingham, where he is to say that over 1,900 written responses have been received to the consultation on the government's industrial strategy green paper. "Later in the year we will respond formally to the consultation with a white paper. But the shape of it is already becoming clear," Clark is to say, according to the BEIS statement.
Separately, the government and energy regulator Ofgem outlined a plan to upgrade the energy system as part of the industrial strategy.
The plan involves rolling out smart meters, enabling suppliers to offer lower tariffs and making it easier for firms to develop smart appliances and gadgets. It also recognises the role of energy storage in a smart energy grid. Тhe government and Ofgem said they have committed to removing barriers to bringing the technology into the power network.
(GBP 1 = USD 1.300/EUR 1.116)
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