European Union Project to Provide €3.2 Billion For R&D In Lithium-Ion Battery

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  • The funders for the project include Belgium, Finland, France, Germany, Italy, Poland and Sweden
  • Areas of interest for the project include creating battery management software and algorithms and recycling and re-using battery materials among others

According to a report by Resourceclips, seven EU states will subsidise 17 companies that are working towards self-reliance in clean energy resources and technology. As per the report, the project will provide up to €3.2 billion for research and innovation in European battery production.

The funders include Belgium, Finland, France, Germany, Italy, Poland and Sweden.The report also said that the commission said that the money will be used in R&D in liquid electrolyte and solid state li-ion batteries that will last longer, have shorter charging time and are environmentally more friendly than those available at the moment. As per the report, 4 areas of interest for the project will include sourcing raw materials, developing innovations for stationary energy storage, power tools, creating battery management software and algorithms and recycling and re-using battery materials.

Battery production in Europe of strategic interest

As per the report, Margrethe Vestager, EU commissioner in charge of competition policy said that battery production in Europe is of strategic interest for their economy and society because of its potential in terms of clean mobility and energy, job creation, sustainability and competitiveness. She added that the program will deliver positive spill-over effects across industrial sectors and regions

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