Today (Wednesday 1 May), Roads Minister Guy Opperman is launching the third year of the £7 million Freight Innovation Fund Accelerator to deliver innovative tech across the industry to decarbonise freight and boost the UK supply chain as part of the Government’s plan to grow the economy.
More people and businesses across the UK will benefit from smarter, more efficient and more sustainable deliveries thanks to a £1.8m Government funding boost.
- Businesses to bid for a share of £1.8 million to make freight cleaner, more sustainable and more efficient
- Part of wider £7 million fund to drive innovation and sustainability in freight sector
- Previous winners saw £97 million in investment, boosting supply chains, supporting new jobs and growing the economy
Small and medium-sized enterprises (SMEs) can receive up to £1.8 million in Government funding to support the freight sector in deploying cutting-edge 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 £3 million allocated to several SMEs which worked with industry-leading companies to make British supply chains cleaner and more efficient, while improving how freight is carried across rail, maritime and road transport.
Examples of ground-breaking ideas that have become reality thanks to support from the Freight Innovation Fund include Royal Mail working with Skyports to deliver mail by drones across the islands in Orkney. This is the first time ever mail is being delivered by drones in the UK, allowing Royal Mail to deliver 24 hours faster than using vans or ferries.
The Freight Innovation Fund has also supported FedEx in trialling new eCargo bikes to deliver parcels quickly in traffic-heavy city centres, helping decarbonise deliveries.
Previous funding winners have reported a collective £97 million in commercial investment from the £1.2 million Government Year 1 fund, decarbonising supply chains and supporting jobs.
“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.”
Roads Minister, Guy Opperman
The Freight Innovation Fund Year 3 follows £200 million to roll out hundreds of zero-emission trucks and lorries as well as freight charging infrastructure to help set road freight on the path towards net zero.
The fund was originally launched in 2022 as part of the Government’s Future of Freight plan, the first-ever plan for Government and industry to work closely together to deliver a world-class, seamless flow of freight across the UK’s roads, railways, seas, skies and canals.
