The contract is part of the UK government’s drive to support energy storage research and implementation across the UK.

EVEREST (Electric Vehicle Embedded Renewable Energy Storage and Transmission) will use the funds to develop a new storage system, partly made out of recycled batteries from electric vehicles, that will store renewable energy generated at times of low demand for use at times of peak demand.

“Low carbon and renewable energy technology is essential for the economic growth of the country,” said Keith Bevis, MD of EValu8 Transport Innovations. “We are delighted to be working with this excellent consortium that brings innovation to support the expansion of plug-in-vehicle infrastructure and rapid charging. We see real potential for this energy storage solution to extend into a variety of other markets.”

“The ability to store energy for use at peak demand will become increasingly important in the move towards a low carbon economy,” said UK Energy and Climate Change Minister Greg Barker. “This investment will give EVEREST the boost it needs to develop energy storage designs, helping cut costs and bringing new technologies to market in this sector.”

Besides its automotive charging functionality, the device can operate as a renewable energy storage hub, as well as support a host of other applications, where peak energy demand exceeds the electricity network capacity.