A new £7m government-backed fund has launched to help small- to medium-sized businesses develop greener and more efficient solutions for freight.
The Department for Transport’s new freight innovation fund (FIF) will be distributed among up to 36 SMEs, who will be able to work with experts to develop innovations to make freight more efficient, resilient and greener. This includes ways to improve how freight moves between rail, road and maritime transport, helping to improve journey times and predictability.
The new solutions could help clean our air, reduce traffic, create UK jobs and allow people to get their packages and goods more quickly.
Roads Minister Richard Holden said: “Our freight industry is vital to underpinning the economy and keeps Britain moving, so it is crucial we invest in new innovations to make it greener and quicker.
“This fund will accelerate new ideas and technologies, helping to develop a future pipeline of innovations that can be rolled out to create jobs and allow everyone to get their goods faster and easier.”
The fund is part of the Government’s Future of Freight plan announced last year and targets the five priorities for the sector identified in the plan, including being cost-efficient, reliable, resilient, environmentally sustainable, and valued by society.
Previous government initiatives have also worked to support increased research and development in the freight industry; technologies supported by such funds include an artificial intelligence programme from Hypermile that offers real-time feedback to help HGV drivers save fuel.
The freight innovation fund will be delivered by Connected Places Catapult and will include both business and technical support.
Nicola Yates, CEO at Connected Places Catapult, said: “Each year in the UK, we transport 1.6 billion tonnes of freight using many different modes of transport, and it has never been quicker or easier. The freight sector makes a huge contribution to our economy and contributes significantly to domestic carbon emissions.
“Today, we are delighted to be working with Department for Transport to launch this freight innovation fund as part of their future of freight strategy. The fund will help us to work with innovators and industry partners to develop a pipeline of technology and data innovations that will tackle the freight sector’s emerging needs, ensuring that resilience, efficiency and carbon reduction are core to the sector’s future.”
Industry body Logistics UK welcomed the work. Kate Jennings, policy director, said: “Efficient logistics is vital to the UK and, as a sector, businesses are innovating to drive down emissions while ensuring the availability of the products households, businesses and public services rely on every day. Achievement of the UK’s net zero target is a challenge our members are committed to but this will require continued partnership between the government and industry to achieve. This innovation fund will be a welcome route for our member organisations to develop and access the technologies needed for goods to be moved in an increasingly green and cost-efficient way.”
