Government commits £60 million of funding to Midlands universities
The Government has today confirmed £60 million for a new energy research project in the Midlands. The Energy Research Accelerator (ERA) is a multimillion research hub which will build on the expertise of six leading midlands universities, the British Geological Survey and the surrounding industrial base to deliver a step change in energy research and development, securing the UK's leadership position in the sector.
As well as the Government's commitment of funding for the initiative, it will also see major investments from industry partners.
George Osborne MP, Chancellor of the Exchequer, said: "The Midlands is an engine of manufacturing growth so we are today giving the go ahead to the £60 million investment in the new Energy Research Accelerator that they have sought."
The Energy Research Accelerator will build upon the power of advanced manufacturing, multi-disciplinary research and industry expertise within the Midlands Region and the leadership of the M5 Group of Universities by supporting the exceptionally strong regional industrial base to harness the potential of its cities, as well as by bringing together leading academics in energy research with a proven track record of successfully working at the interface of academia, policy and industry.
The Energy Research Accelerator will develop new ways to reduce energy costs in manufacturing - adding competitive advantage to the UK in today's global markets - and will catalyse new research to secure the UK's international lead in new energy technologies across the region's leading universities, develop and deploy technologies, as well as create significant inward investment for the region and the UK.
The creation of the Energy Research Accelerator will also:
- Bring leadership, innovation and competitive advantage in the energy research and development sector for the UK.
- Provide a step-change in the economic impact of new technologies and services through partnerships with the industrial sector, earlier deployment, and the ability to operate demonstrators in both the city and campus environments.
- Deliver wide-ranging energy research in collaboration with industry to convert innovation and emerging technologies into practical solutions with a powerful global benefit and value.
- Deliver jobs, and apprentices, wealth creation and the next generation of trained scientists and engineers for the energy sector and for the new industries that will emerge.
Posted on Thursday 30th March 2017