Search Company:
The third year of the £7 million Freight Innovation Fund Accelerator launched on 1 May 2024 with £1.8m targeted at boosting British freight decarbonisation efforts.
Small and medium-sized enterprises (SMEs) can receive up to £1.8m in government funding to support the freight sector in deploying AI technology and automation to improve the way trains, lorries, vans and ships carry parcels and goods.
The first two years of the fund saw nearly £3m allocated to several SMEs which worked with companies to make British supply chains cleaner and more efficient, while improving how freight is carried across rail, maritime and road transport.
Roads minister Guy Opperman said: “The freight and logistics sectors are part of our economy’s backbone, ensuring supermarket shelves are stocked, hospitals receive crucial medical supplies and important deliveries are made.
“That’s why, as part of the government’s plan to grow the economy, the Freight Innovation Fund is supporting businesses to innovate and back skilled UK jobs.”
The fund was originally launched in January 2023 as part of the government’s ‘Future of Freight’ plan and builds on previous government initiatives designed to support increased research and development in the freight industry. Read more
Source: LOGISTICS MANAGER
