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E.ON to invest €60 million in funding research

E.ON has earmarked €60 million over the next 10 years for an international research initiative that will enable energy experts from around the world to apply to the company for funding for energy research projects.

The disciplines covered by the initiative will change, with a competition being held every year. This year's budget of €6 million is being tendered in a competition dedicated to energy storage. Mounting use of renewable energy is going to increase the significance of this technology.

For example, offshore wind farms, which E.ON is actively promoting, deliver electricity when there is plenty of wind, without this necessarily being the time when electricity is in demand. A key issue is therefore short-term and seasonal storage.

Funding will be granted to teams and researchers at universities and research institutes. E.ON is funding research into new, innovative solutions in projects scheduled to last for several years. (energy-business-review.com)