EValu8 Transport Innovations has secured a contract worth £3 million from the Department of Energy and Climate Change (DECC).
DECC hopes that the contract will help spur on innovation in energy storage in support of the department’s innovation competition to support energy storage technology.
The £3 million contract has been awarded to EValu8 Transport Innovations, on behalf of the Electric Vehicle Embedded Renewable Energy Storage and Transmission (EVEREST) Consortium.
EVEREST will use the funding to develop its storage technology that uses ‘second life’ electric vehicle batteries. Initially, the consortium will undertake feasibility work to develop and test its modular storage solutions with the ultimate goal of commercialising the device.
Keith Bevis, managing director of EValu8 Transport Innovations noted that energy storage will help support low carbon and renewable energy technology which will be essential for economic growth. He said: “Low carbon and renewable energy technology is essential for the economic growth of the country. We are delighted to be working with this excellent consortium that brings innovation to support the expansion of plug-in-vehicle infrastructure and rapid charging. We see real potential for this energy storage solution to extend into a variety of other markets.”
Commenting on the need for energy storage, Greg Barker added: “The ability to store energy for use at peak demand will become increasingly important in the move towards a low carbon economy. This investment will give EVEREST the boost it needs to develop energy storage designs, helping cut costs and bringing new technologies to market in this sector.”
The contract was awarded under the second phase of DECC’s £17 million energy storage technology demonstration small business research initiative competition.