The new Business Secretary, Grant Shapps, has announced a £95m investment to the Henry Royce Institute (‘Royce’) headquartered at The University of Manchester during a visit yesterday
The funding will enable new advanced materials research and development, critical to sectors including health and energy.
Awarded via the Engineering and Physical Sciences Research Council (EPSRC), it follows an initial £258m government investment made over the course of five years to establish key infrastructure required by the advanced materials sector. Royce aims to support the growth of world-recognised excellence in UK materials research, accelerating commercial exploitation and delivering positive economic and societal impact.
The new funding will enable the Institute to accelerate translational research in advanced materials targeting our biggest challenges, providing access to research capabilities, identifying opportunities for collaboration between businesses and researchers and developing the next generation of materials scientists.
During his first official visit in his new role as Business Secretary, Grant Shapps said: ‘R&D investment is a critical way to turbocharge Britain’s growth. Growing an economy fit for the future means harnessing the full potential of advanced materials, making science fiction a reality by supporting projects from regenerative medicine to recycling robots right across the country – including here in the heart of Manchester.
‘Today’s £95m investment will do just that, bringing together the brightest minds across our businesses and institutions to help future-proof sectors from healthcare to nuclear energy.’
