TITANVOLT TO COLLABORATE WITH MAJOR SCOTTISH UNIVERSITY AFTER RECEIVING INWARD INVESTMENT FUNDING
Titanvolt will work with University of St Andrews on advanced battery technology
Collaboration funded by Scottish Inward Investment Catalyst Fund
Funding will support testing and validation of lithium titanate oxide battery
Titanvolt have been awarded funding to collaborate with the University of St Andrews on advanced battery technology.
The UK leaders in next-generation energy storage were successful in the latest round of awards from the Scottish Inward Investment Catalyst Fund.
The fund, which is supported by Interface and the Scottish Government, attracts investment through R&D partnerships with Scottish universities. The funding will support testing and validation of Titanvolt’s lithium titanate oxide batteries.
“Battery technology is key to our future energy security and presents significant opportunities for inward investment as well as reductions in fuel poverty,” said Titanvolt CEO Neill Richardson.
“We look forward to developing this collaboration with the University of St Andrews to validate our exceptional safe and clean lithium titanate battery technology for the local market. We are grateful for the support of Interface and the Scottish Government for their support.”
Titanvolt’s pouch cell battery, which has no fire risk, is more energy efficient than other battery types and is 95% recyclable. It has been developed by Grinergy, a leading South Korean battery manufacturer, and brought to market by Titanvolt, who are based in England’s North East.
While the technology has gone through extensive testing in South Korea, the latest phase of testing and validation will support product development ahead of plans to create battery manufacturing facilities in Scotland.
Scotland’s Business Minister, Richard Lochhead, said attracting inward investment was important to drive economic growth and prosperity across Scotland. He added: “The Inward Investment Catalyst Fund helps build early-stage partnerships between potential investors and Scotland’s world-renowned academia to develop these opportunities.
“The fund is supporting high quality and innovative projects, and laying strong foundations to help potential investors consider Scotland as a destination for their business.”
The Scottish Inward Investment Catalyst Fund attracts companies from outside Scotland to collaborate with Scottish academics. The fund has awarded up to £10,000 to 34 projects in opportunity areas for Scotland, such as energy transition, health tech and the decarbonisation of transport.
Howell Davies, Interface’s Head of Strategic Programmes and Funding, added: “The specific nature of the projects being funded through the Inward Investment Catalyst Fund demonstrate the strength and depth we have in a range of academic disciplines, where Scotland is seen as a destination to access facilities and expertise, and is a key factor when considering inward investment here.”
