Innovate UK offers £4M funding for rare-earth innovations
January 30, 2024
Innovate UK, part of UK Research and Innovation, has announced that it will invest up to £4 million in innovation projects as part of the CLIMATES (Circular Critical Materials Supply Chains) programme. The aim is to stimulate growth in a circular critical materials supply chain for rare-earth elements (REEs), or alternative materials to address opportunities across the whole value chain and help increase supply chain resilience.
The funding is split into two strands:
- Strand 1 (up to £250,000): Early-stage feasibility studies intended to facilitate the adoption of new innovations in processes, technologies or industries
- Strand 2 (up to £700,000): Mid- and late- R&D projects aimed at accelerating the industrialisation and commercialisation of innovative processes, technologies and services
A funding grant can cover up to 70% of the costs, depending on business size and project type.
Funding can only be accessed by UK-registered organisations; businesses of any size can apply, as well as academic institutions and not-for-profits. Applicants should ensure that they submit their application to the correct strand for their project. They are not able to transfer their application and it will not be sent for assessment if it is out of scope.
Registration is now open and closes March 13. Those interested can apply here.
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