The additional investment follows the decision by the Office for Low Emission Vehicles (OLEV) to channel the funding it has available for low carbon vehicle technology research and development through the Technology Strategy Board collaborative R&D competition.
This additional investment together with the £15 million announced by the Business Secretary, Vince Cable in October means £25 million is now available to UK businesses to accelerate the commercialisation of low carbon vehicles.
As the Government grants will match-fund investment by the participating businesses, the total value of the research and development projects will be at least £50 million.
Grants for each project are likely to range from £500,000 up to in excess of £5 million.
A networking event is planned for 10 January 2012, to present the scope of the funding competition and facilitate consortia-building. The competition opens on 20 February 2012 and expressions of interest must be submitted by 28 March 2012.
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Photo: Paul Martin Eldridge