UK finances tech for electric flying taxis, maritime decarbonisation

The UK government this week announced funding to support the development of green aviation and maritime technologies.

An investment of GBP 113 million (USD 135m/EUR 126m) from the government and industry under the Aerospace Technology Institute (ATI) programme will aim to advance hydrogen and all-electric flight technologies. The projects awarded funding include a trio led by Rolls-Royce Holdings (LON:RR) to develop the foundations of a liquid hydrogen combusting jet engine, and a GBP-30.8-million initiative by Bristol-based electric aircraft maker Vertical Aerospace to develop high-end, lightweight batteries. Rolls-Royce’s projects are worth a total of GBP 82.8 million.

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The hope is that those technologies could help make electric flying taxis and hydrogen-powered planes a reality.

“As the whole world moves to greener forms of aviation, there is a massive opportunity for the UK’s aerospace industry to secure clean, green jobs and growth for decades to come. Together with the companies that share our ambitions, we are determined to seize this moment,” commented Grant Shapps, who, as of today, is Secretary of State for Energy Security and Net Zero.

At the same time, the government launched a Call for Evidence seeking input on how to achieve the target for airport operations in England to be zero emissions by 2040.

The news came as changes to the government structure were announced on Tuesday, including the splitting of the Department for Business, Energy and Industrial Strategy and the creation of the Department for Energy Security and Net Zero.

Separately, on Monday, the Department for Transport said that GBP 77 million will be invested in clean maritime innovation through the Zero Emission Vessels and Infrastructure (ZEVI) competition. It is looking to back projects that can work with UK ports and operators to launch a zero-emission vessel by 2025. The projects can focus on technologies such as battery electric vessels, shoreside electrical power, ships powered by low-carbon fuels like hydrogen or ammonia, or wind-assisted ferries.

The government also aims to form a Clean Maritime Research Hub with GBP 7.4 million in funding. The research hub and the ZEVI fund are part of the GBP-206-million UK SHORE programme initiated in March 2022 to help tackle shipping emissions.

(GBP 1 = USD 1.198/EUR 1.119)