The UK's business and energy secretary, Greg Clark, announced a $320 million energy storage research program.
Named for English electrochemical pioneer Michael Faraday, the Faraday Challenge will divvy up its $320 million tranche to three competition "streams" to research UK-based energy storage technology.
The Engineering and Physical Sciences Research Council will create a Battery Institute—a collaboration of universities with the goal of addressing the industrial challenges in making better batteries.
Innovate UK will lead the next stage of the program, holding research and development competitions and bringing the best results to the Battery Institute.
Finally, the UK's Advanced Propulsion Centre will concentrate on scaling up battery energy storage.