Government Minister launches scale-up fund at Cenex Expo

The Minister of State at both the Department for Energy Security and Net Zero, and the Department for Business and Trade, Sarah Jones, opened Cenex Expo with a keynote address to provide long-term clarity to the automotive manufacturing sector.

Minister Jones shared with delegates the Government’s “vision for growth,” whilst acknowledging that “market conditions had been tough,” but the Government “hasn’t shied away from making the big calls, the big investments needed to shore up this sector over the short term.”

Minister Jones said: “Crucially, through our industrial strategy, we want to set you up for success over the long term too.

“Through DRIVE35, we are launching a new scale-up initiative to address the so-called valley of death between R&D and industrialisation.

“The initiative will fast-track new technologies, making our innovation capabilities a commercial reality.”

The Advanced Propulsion Centre UK’s (APC) scale-up fund- delivered in collaboration with the Department for Business and Trade (DBT) and Innovate UK- aims to enable the UK to enhance manufacturing competitiveness.

DRIVE35, the zero-emission funding programme, focuses on encouraging external investment to overcome the initial barriers faced by innovative companies.

It will use R&D innovation to improve the efficiency, productivity, and cost-competitiveness of manufacturing plants and their supply chains.