Battery technology needs a spark of life to improve its storage while reducing the costs, and the UK government thinks the best way to do that is to slap some cash on the table to spur competition in the sector—where it currently lags behind the likes of countries such as Japan and companies such as Tesla.
On Monday, business and energy secretary Greg Clark launched a £45 million “virtual Battery Institute” initiative to encourage the best brains on the topic to put their heads together in a bid to make the UK a world leader “in the design, development, and manufacture of electric batteries.”
The freshly dubbed Faraday Challenge forms part of the minority Tory government’s industrial strategy—much of which was announced prior to the recent, highly damaging (for prime minister Theresa May, at least) General Election—which seeks to boost Britain’s productivity under the shadow of Brexit.
The “research, innovation, and scale-up” competitions will be led by the Engineering and Physical Sciences Research Council (EPSRC). The £45 million pot covers the initial research stage of the Battery Institute. The government has set aside £246 million in total to try to improve battery technology in the UK over the next four years.

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