Faraday Battery Challenge 2024
UKRI’s Faraday Battery Challenge, delivered by Innovate UK will invest up to £1.5m in innovation scale up projects in January 2024 to fund UKBIC SME credit Round 2.
Building on the success of the first SME Credit competition in May of this year, the new competition will:
- support small to medium sized enterprises (SMEs) research and development for the scale-up of battery technologies within the UK
- support small to medium sized enterprises (SMEs) to access the UK Battery Industrialisation Centre (UKBIC) and demonstrate technologies at suitable scales to customers
- increase engagement with UK Battery Industrialisation Centre (UKBIC)
- move UK battery innovations from technological potential towards commercial capability, including scalability and design for manufacture
- develop and secure material and manufacturing supply chains for battery technologies in the UK
The timeline of the competition will be: (all exact dates to be confirmed)
29 November 2023, Pre-competition engagement event at UKBIC facility
January 2024, Competition opens
January 2024, Online Competition Briefing event
March 2024, Competition closes
July 2024, likely start dates for projects
End of March 2025, all projects must have been completed