UK registered businesses can apply for a share of £25 million for innovation in propulsion battery technologies for electric vehicles. This funding is from the Faraday Battery Challenge.

The aims of the competition are to:

  • support business-led research and development of sustainable propulsion batteries
  • support technologies with the potential to enter the automotive market within the next 10 years and, where appropriate, allow for early or cooperative entry into other sectors
  • move UK battery innovations from technological potential towards commercial capability
  • develop and secure material and manufacturing supply chains for battery technologies in the UK

The competition has two strands:

1. Collaborative Research and Development

The CR&D strand will support the research and development of innovative and sustainable battery technologies for the propulsion of electric vehicles in the automotive sector. All projects need to meet the following eligibility criteria. Firstly, they must have total costs between £500,000 and £12 million. They can last up to 24 months and should take place between 1st January 2023 and 31st December 2024. Projects must be collaborative, led by a UK registered business, and involve at least one SME.

2. Feasibility Studies

In this strand, projects should focus on exciting early-stage research where a feasibility study could catalyse the route to commercialisation. To be eligible for funding, projects must have total costs between £100,000 and £750,000. They can last up to 12 months and should take place between 1st January 2023 and 31st December 2023. Projects must be collaborative, led by a UK registered business, and involve at least one SME.

More Information

Faraday Battery Challenge Round 5 is open from 23rd May until 17th August 2022. You can find more information on both strands via the Innovation Funding Service.

RedKnight has a strong track record of securing innovation funding and can help you develop a competitive application! If you would like to explore an application, please contact us in order to arrange a free consultation.

Other posts you might like