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Green aerospace tech to receive record £685m government funding

The UK’s aerospace technology research programme, the Aerospace Technology Institute (ATI), is to receive record levels of government funding, Industry Minister Lee Rowley confirmed today.

The ATI will receive £685m from the government for the financial years 2022-2023 through to 2024-2025, an increase of £235m on the previous three-year period. Industry will provide co-funding, taking the total to more than £1bn.

Funds will be used to capitalise on the UK’s world-leading R&D system and support the development of zero-carbon and ultra-low-emission aircraft technology, cementing the UK’s place at the forefront of advancing new green technology, whilst supporting tens of thousands of jobs.

Previous projects supported include ZeroAvia’s six-seat hydrogen-electric aircraft, which is the largest such aircraft in the world, as well as Rolls-Royce’s development of the largest, most efficient aircraft engine ever.

Industry Minister Lee Rowley said: “Since its formation in 2013, the Aerospace Technology Institute has been an enormous success, already funding world-leading innovations like hydrogen aircraft and 3D printed components. These projects are making a real-world impact and could one day help the global aviation industry transition to net zero.

“Today’s commitment is a sign of our increasing ambition and will give large and small businesses the confidence to invest in the technologies that will bring civil aviation into the next generation.”

#Funding #Green Finance #commercial finance

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