Further ?1m investment in green vehicle innovation | Wales …
A further £1m will be invested into green vehicle innovation. (Image credit: Welsh Government)
A further £1m investment will be made into green vehicle innovation in Wales, economy minister Vaughan Gething has announced.
The Welsh Government will co-fund a third round of investment in greener and cleaner innovation through the Ford Low Carbon Vehicle Transformation Fund as part of its response to the climate emergency.
Set up by the Ford Motor Company in 2020, the Welsh Government-administered fund addresses strategic industrial technical challenges associated with low-carbon vehicles, including electrical energy storage, electric motors, power electronics and powertrains. Collaboration and building new future supply chains are key elements of the Fund.
One of the first projects to be funded is a project being led by Caerphilly-based advanced research and development firm Deregallera.
The Deregallera-led project involves the design of an alternative motor for electric vehicles that is less harmful to the global environment.
Martin Boughtwood of Deregallera said: “This project to create a high-efficiency, high-torque density motor without or with substantially fewer permanent magnets will add to our high-performance motor and inverter offerings, providing customers with a secure supply chain alternative solution if these sources become too costly or constrained.”
Another project that has received support from the fund is Bangor-based The Denis Ferranti Group.
The firm are using funding to support HYDENSE, a project aiming to seize a significant proportion of the global electric traction motor market by optimising machine performance against cost.
This is being achieved by leveraging Denis Ferranti Group’s motor design capability in combination with the Advanced Manufacturing Research Centre’s (AMRC Cymru) extensive knowledge of latest manufacturing techniques.
The next round of funding will see up to £1m invested in projects by the end of 2024.
Vaughan Gething said: “The Ford Low Carbon Vehicle Transformation Fund is an example of our flexible support for innovation. The Fund has already supported eight Welsh-based organisations and I am keen to extend the opportunity to others. This is a great example of government working with industry to create new green jobs in the industries of the future.”