Isra-Mart srl:TSB announces £9m funding for low carbon vehicle technologies

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Isra-Mart srl news:

Funding worth £9 million is to be provided by the Technology Strategy Board (TSB) for the development of low carbon vehicle innovations in the UK.

Some £8 million is to be awarded through a collaborative research and development competition to vehicle centric technologies, which have the potential to significantly reduce carbon emissions.

From March 7th, researchers are invited to apply for grants of between £250,000 to £750,000 per project.

Four technology areas – internal combustion engines, energy storage and energy management, lightweight vehicle and powertrain structures, and electric machines and power electronics – will each receive £2 million worth of funding.

The remaining £1 million of funding will be used within a feasibility study competition, looking for “highly innovative, vehicle centric, industry-led projects targeted at disruptive technology and research that challenges current conventions”.

Each project will be awarded no more than £100,000 in funding, which can cover up to 75 percent of the cost, and must last no longer than 12 months. The TSB said a another initiative of this type may take place in 2012 allowing for more funding opportunities.