Talga Resources UK subsidiary enters battery race with UK 'Faraday' Project

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.