The Faraday Institution, an offshoot of the UK government, has announced planned funding of up to $59 million (£42 million) toward solid-state battery research and other electrification projects.

The $59 million pledge in government funding will be divided toward four projects, all around battery research initiatives. They include a University of Cambridge-led study on extending battery life and reduction of battery costs, Imperial College of London-led research on battery system modeling, a University of Birmingham-led recycling and reuse study, and a University of Oxford-led feasibility study on solid-state batteries.

Each of the respective universities will lead consortiums comprising of other colleges and industry partners, who will also chip in funds to support the projects. With the University of Oxford’s solid-state battery study, six schools and nine industrial partners will contribute expertise on how to make solid-state batteries lighter, safer, and cheaper.

“With 200,000 electric vehicles set to be on UK roads by the end of 2018 and worldwide sales growing by 45 percent in 2016, investment in car batteries is a massive opportunity for Britain and one that is estimated to be worth £5 billion by 2025,” said Business Minister Richard Harrington. “Through our flagship Industrial Strategy and its Future of Mobility and Clean Growth Grand Challenges, we are committed to making Britain the ‘go-to’ destination for the development and deployment of this game-changing technology.”

Founded in Oct. 2018, the Faraday Institution is the progeny of the UK government, receiving part of its overall £246 million investment in battery technology through the country’s Industrial Strategy initiative, its long-term strategic plan for revitalizing the economy through “ideas, people, infrastructure, business environment, and places.” One of its funded programs includes this latest project. The Faraday Institution is headquartered at the Harwell Science and Innovation Campus in Oxfordshire, UK.