(Alliance News) - Nanomaterials producer Haydale Graphene Industries PLC on Tuesday said it will receive funding of GBP138,549 from the Advanced Propulsion Centre to develop hydrogen fuel cell tanks.
The project will assess the suitability of Haydale Graphene's storage tank, which could help to make hydrogen propulsion a reality in the future.
Haydale said Advanced Propulsion Centre has spent GBP9.4 million on 22 feasibility studies looking to scale up low-carbon emission vehicle technologies.
It is hoped that Haydale's graphene enhanced materials will help to support the future of green automotive manufacturing in the UK.
"We see hydrogen tank development as a key technology area going forward. Following commercially focused research and development in this area, we continue to advance our functionalisation process to help create high-strength durable hydrogen tanks," said Haydale Chief Executive Officer Keith Broadbent.
Shares in Haydale Graphene were trading 0.4% lower at 6.92 pence in London on Tuesday afternoon. The stock is up 57% so far in 2021.
By Will Paige; willpaige@alliancenews.com
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Haydale (HAYD)