Five Cambridge-based companies are set to benefit from part of an £88 million funding injection aimed at accelerating the UK’s transition to net zero. The funding, announced by the Minister for Industry and Decarbonisation, Sarah Jones, is part of a wider £88 million investment in 46 innovative projects across the country.
The Cambridge recipients are DeepForm, Molyon, FLIT, Talga, and Nyobolt. These companies are developing a range of green technologies, including electric trucks, e-motorcycles and advanced battery materials.
DeepForm is a University of Cambridge spin-out that has developed a new sheet metal pressing technology that can significantly reduce waste in automotive production. Molyon is working on high-energy density batteries, while FLIT is developing lightweight folding e-bikes. Talga is focused on battery anode materials and Nyobolt is developing ultra-fast charging battery technology.
The government has hailed the investment as “an important vote of confidence in the UK’s automotive industry”, which is expected to create thousands of green jobs.
Chris Cleaver, CEO of DeepForm,commented: : “We’re really pleased to be getting this support. We’ve got ambitious plans to accelerate our impact – designing automotive pressings with up to 40 per cent less input material.”
FLIT’s CEO also welcomed the funding, stating that it would enable the company to not only develop new e-bikes but also to make them more sustainable through easier refurbishment.
Image source: Kenisha van Keulen
