The UK Government has launched a £7 million technology fund to “make freight greener” and improve innovation in the sector.

The freight innovation fund (FIF) will be divided between 36 SMEs who will work with companies to help make freight more efficient and produce less carbon.

The Government said the fund will allow companies to test their ideas and reduce emissions across the sector. Businesses are currently exploring how to organise large containers more efficiently and make links between rail and maritime transport more efficient.

The fund forms part of the Government’s Future of Freight plan, which also aims to address the lack of large-scale cross industry data sharing between different modes of freight transport with the aim of improving efficiency.

The Government said the fund will result in the growth of the freight network in the UK and make it more resilient to disruptions in the supply chain across a variety of industries.

SMEs in the scheme will also have access to a freight innovation fund accelerator, which will provide bespoke business support and help to access private investment.

Commenting on the news, roads minister Richard Holden said: “Our freight industry is vital to underpinning the economy and keeps Britain moving, so it is crucial we invest in new innovations to make it greener and quicker.”

He added: “This fund will accelerate new ideas and technologies, helping to develop a future pipeline of innovations that can be rolled out to create jobs and allow everyone to get their goods faster and easier.”

Share Story: