426: Neill Ricketts of Versarien talks about subsidary, 2-DTech, receiving backing from the Department for Transport

The Vox Markets Podcast

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Neill Ricketts, CEO of Versarien #VRS talks about their subsidiary, 2-DTech, receiving backing from the Department for Transport in order to develop of a Pseudo-Capacitor technology aimed at zero emissions for port-side infrastructure.

Highlights

The Department for Transport in partnership with Innovate UK, part of UK Research and Innovation, has announced that project SUPPORTIVE has been awarded £652,000, of which 2-DTech Limited (a subsidiary of Versarien plc) will receive £93,000, in funding to develop an innovative Asymmetric Pseudo-Capacitor power pack. The objective is for this pack to be used in container shuttles, vehicles that transport shipping containers, at ports all over the world. Currently these vehicles are powered by diesel engines and are a sizable hurdle when it comes to transitioning maritime infrastructure to zero emissions by 2050. This award is part of the UK's Clean Maritime Demonstration Competition Strand 2.

The aim of this funding is to support the design and development of technologies for the reduction of greenhouse gas emissions by the UK's maritime sector as set out in the Clean Maritime Plan and support the transition to Net Zero by 2050.

There are currently two technologies used to power electric vehicles: lithium-ion batteries and supercapacitors. Li-ion batteries can store large amounts of electrical energy but typically have low power output, slow charging times and relatively short battery life. Supercapacitors, on the other hand, supply huge amounts of power, charge very quickly and last almost indefinitely. However, the relatively small amount of energy they hold quickly drains and severely limits the range of a vehicle.

The new SUPPORTIVE pseudo-capacitor technology is designed to charge quicker than supercapacitors, whilst also providing a higher power-capacity, and longer life-span than lithium-ion batteries.

About Versarien:

2-DTech is part of Versarien Plc (AIM:VRS), an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries.