The Technology Strategy Board today announced an investment of £12 million toward the development of new technology aimed at reducing CO2 emissions from road vehicles.
The investment will be made in 16 proof of concept studies and six full research and development projects. The total value of the research will be nearly £25 million, with the remaining funding provided by the participating UK organisations. The Technology Strategy Board, a public body established by government, promotes and supports technological research and development and innovation for the benefit of UK business.
Since 2007, the Technology Strategy Board’s Low Carbon Vehicle Innovation Platform has invested £74 million in over 50 innovative research, development and demonstration projects, including the planned road-testing of 340 low carbon vehicles across the UK during 2010. The total value to date of investment in low carbon vehicle research and development managed through the Innovation Platform is nearly £150 million.
The development of low carbon vehicles provides an important opportunity for the UK motor industry and SMMT is determined to provide the support mechanisms needed to maximise the value to the national economy. To assist its members in identifying and accessing available support, SMMT has monitored funding developments for businesses and the automotive sector. To access the guide outlining funding and support opportunities, click here.
