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University of Manchester Announces £13m Energy Project
The University of Manchester has announced it is to partner on a project to create a new £13m energy storage R&D centre at the University of Warwick.
The focus of this will be the development of electric and hybrid vehicle batteries, a market estimated to be worth £250m to the UK by 2020.
The UK Energy Storage R&D Centre will be funded from a mixture of government and private sector funds with £9m coming from the government and £4m from industry.
Business minister Michael Fallon said, "It will put the UK in a much stronger, competitive position to capitalise on a growing worldwide market for low carbon vehicles, alongside other world leaders in the field, including the US, Japan and Germany."
"This £13m facility will help accelerate the development of battery cells for the next generation of vehicles, is a vital investment in the future of the automotive sector. It complements over £5.5bn that global vehicle manufacturers have committed to UK projects in the past 18 months."
The University of Manchester is one of 3 universities who will create the demand for student accommodation in Manchester. Riverside House is an excellent opportunity to invest in this sector of UK property investment.
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