£95 million in funding has been awarded to the Henry Royce Institute.
The funding, given to the UK’s advanced materials research institute, was announced by Grant Shapps, the new Business Secretary.
The investment will be used to research advanced materials and develop new sustainable technologies within sectors such as green energy, housing development, and medicine.
Shapps stated during his visit that the £95m investment will help with “bringing together the brightest minds across our businesses and institutions to help future-proof sectors from healthcare to nuclear energy.”
The Royce, as it is nicknamed, operates from a headquarters based in Manchester and affiliates at eight other UK universities and institutions. These include the University of Cambridge, University of Sheffield, and the National Nuclear Laboratory.
Through these partnerships, the Institute aims to provide further interdisciplinary research on several key sectors, including low-carbon and energy efficient power. In addition, it will bring innovative processes for data storage and communication.
It is similarly focused on areas of social justice, including affordable and environmental housing schemes, and personalised healthcare for an ageing population.
As the environment is of the utmost importance to the Royce Institute, each area is aimed to be delivered in the most sustainable manner.
The grant follows previous investments made by the government throughout the past decade for the inception and maintenance of the institution, which was opened in 2020 after three years of construction.
It is part of the government’s Innovation Strategy, an R&D strategy which aims to lead the future “by creating it”.
The institute takes its name from Sir Frederick Henry Royce OBE, co-founder of Rolls-Royce. This was deemed fitting as Royce manufactured his first car in Manchester in 1904.