Talga Resources (ASX:TLG) UK subsidiary, Talga Technologies has gained funding under the UK Government’s ISCF Faraday Battery Challenge initiative to develop Talga’s graphitic anode for solid state batteries.
Faraday represents a £246 million UK Government funding initiative for battery research and development.
Solid state batteries are an emerging form of rechargeable battery technology with potential to combine high energy and high power with improved safety.
They work by using a solid state electrolyte made of polymer, ceramic or glass material instead of the (more flammable) liquid electrolyte of today’s lithium-ion (“Li-ion”) batteries.
A range of car manufacturers including Toyota, Volkswagen, Hyundai and BMW have declared their goal is to incorporate solid state batteries into their vehicles by 2025. Other companies such as Dyson and Bosch are active in this space.
Shares in Talga Resources (ASX:TLG) are trading 1.2 per cent lower at 42 cents.