Additional Government investment announced to support low carbon vehicle commercialisation via TSB
Fri 09 December 2011
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The Government is to invest a total of £25 million on projects to accelerate the commercialisation of low carbon vehicles, following the announcement of an additional £10m to be targeted through a funding competition, delivered by the Technology Strategy Board working alongside the Office for Low Emission Vehicles. The funds will go to research and development projects focused on energy storage and management and lightweight vehicle and powertrain structures.
In October the Business Secretary, Vince Cable, announced that the Government planned to invest £15 million in projects to accelerate the commercialisation of low carbon vehicles. The Office for Low Emission Vehicles (OLEV) will now to provide an additional £10m grant funding making a total of £25 million now be available to UK businesses.
The additional investment follows a decision by OLEV to channel the funding it has available for low carbon vehicle technology research and development through the Technology Strategy Board, which is the Government’s innovation agency. This will see around £65 million of R&D grant funding from OLEV delivered to UK industry by the Technology Strategy Board in the four years to March 2015.
Commenting on the announcement, transport minister Norman Baker said: “We need to continue to invest seriously in innovative research and development if we are to put the UK at the forefront of low carbon vehicle technology. Strengthening our capabilities and adopting new technologies are vital if we are to make this country an attractive location for investment by global vehicle manufacturers and suppliers.
“Speeding up the commercialisation of low carbon vehicle technologies will contribute to achieving UK and EU climate change targets, help grow the economy, create high value jobs and provide significant global market opportunities for UK-based companies.”
The road to market funding competition is to strengthen UK capability by encouraging a reduction of costs in the supply base and a faster adoption of new technologies on UK roads, with a focus on pulling technology through the various stages of the innovation chain.
Consortia applying for this funding will need to demonstrate that their project has the potential to build on the UK’s existing capabilities, give the UK a global competitive advantage and bring economic benefit to the country. In particular, the consortia will need to show that their proposal:
- Accelerates the introduction of highly innovative technologies that build on the UK’s capability and demonstrate a clear route to a viable market;
- Shows technologies that support the delivery of current legislative and international emission targets;
- Quantifies the scale of the expected CO2 savings relative to the technology target mass market application;
- Provides evidence that the performance, durability, integrity and safety of any technology proposed will be in line with industry expectations.
Grants for each project are likely to range from £500,000 up to in excess of £5 million. The competition opens on 20 February 2012 and expressions of interest must be submitted by 28 March 2012.
A networking event will be held on 10 January at the Heritage Centre at Gaydon, Northants. The purpose of this event is to explain the key elements and opportunities of the IDP7 competition and to offer an opportunity for those interested to network with the view to meeting potential consortium partners.
The event will include pitching sessions from the automotive industry as well as neighbouring technology providers. There a small exhibition and opportunities to identify potential consortia members. To register for the event, visit the associated link.
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