The European Commission has given the green light for France to provide €1.5 billion (£1.3bn) of state aid to support research and development of innovative batteries for electric vehicles (EVs).
The measure will enable ProLogium Technology to develop a new generation of EV batteries, with the financial aid covering its research and development (R&D) project until the end of 2029.
The company’s R&D involves solid-state batteries (SSB), with the SSB technology using solid instead of liquid electrolyte to develop batteries that have a higher energy density and expected to be safer for consumers than conventional lithium-ion batteries.
Under the Prometheus project, ProLogium will develop first-generation SSB to overcome the limitations of the current lithium-ion batteries, second-generation SSB with enhanced energy density and sustainability, SSB recycling techniques and recycling strategies for various battery components and contribute to the development of the standards for SSB recycling.
Margrethe Vestager, Executive Vice President in charge of competition policy said: “This €1.5 billion measure enables France to support ProLogium’s research and development project on innovative solid-state batteries for electric vehicles.
“This project will also contribute to fostering an innovative battery value chain for electric vehicles in Europe, while limiting possible distortions of competition.”