EU Commission approves research and development budget of € 3.2 billion for innovation in batteries
"Essential to economy and society." EU invests in battery development // Photo: Getty Images
The European Commission will fund research into the development of long-lasting and better-performing batteries. The Commission approved a € 3.2 billion state aid budget from seven member states to fund research and innovation for the battery industry. Projects from Belgium, Finland, France, Germany, Italy, Poland and Sweden have all been approved to support research and innovation in the field.
Vice President for Innovation and Competition Commissioner Marguerite and Stagger recently announced the new initiative: "Battery production in Europe is of strategic importance to the economy and society, in terms of clean and energy traffic, job creation, sustainability and competition. The approved aid will ensure that the project continues without distorting The free competition. "
According to the Commission, the project includes "ambitious and dangerous" research and development for all parts of the battery, including mining and processing technologies, making advanced materials, designing battery cells as well as recycling and reusing old batteries.
Demand for batteries is at an all-time high, thanks to the widespread use of smartphones and consumer interest in electric cars. Alongside the Union investment, a group of well-known private investors such as Bill Gates, Jeff Bezos, Jack Ma (owner of Ali Express) and others have invested in alternative battery-powered technology called Iron Flow, developed by a company called ESS.
source:
Reuters