09:00 12 January 2016: The London Taxi Company, Morgan Motor Company, AGM Batteries Ltd, Jaguar Land Rover and Parker Hannifin alongside other consortia partners, have been awarded £31M of government investment as part of a £74M match funding programme to deliver innovation in lightweight advanced diesel engines, high energy density batteries, hybrid light commercial vehicles, fuel efficient hybrid engines, and energy efficient off highway vehicles.
Ian Constance APC CEO announced the go ahead for £74 million of co-investment in 5 new projects:
As part of their submission each consortium must provide a forecast for the creation or safeguarding of UK jobs, targeted CO2 reduction and the value for money of their project. Combined the 5 new projects forecast 851 jobs will be created or safeguarded and that CO2 emissions will be reduced by 4.3 million tonnes.
APC Director for Technology and Projects, Jon Beasley said:
“The announcement of the fourth round competition winners demonstrates the Government’s on-going commitment to supporting the UK’s low carbon Advanced Propulsion System innovation ecosystem. Co-investment in technological developments to be delivered by Industry led consortia, range from high risk incremental growth programmes to innovative cutting edge R&D, showing the UK is committed to establishing itself as a Global centre for the promotion and development of low carbon propulsion systems.”
This announcement follows one last month, which saw government commit a further £35M to the next round of competition, APC 5.