With lighting accounting for 20% of the UK's power consumption, the Technology Strategy Board believes that energy savings could be made through the development of technologies to improve the efficiency of light sources such as lasers, high brightness LEDs (Light-Emitting Diodes) and displays.
The investment has been allocated to encourage UK companies to carry out innovative research and development in these areas. The investment will help to fund winning projects, which will involve businesses working collaboratively with other businesses and/or with research organisations and academic institutions.The Technology Strategy Board has launched a funding competition that it believes will stimulate UK companies to address the challenge of improving the efficiency of lighting while at the same time reducing energy consumption. The Technology Strategy Board believes that this investment will help to accelerate the development of new technologies, bringing them quickly into use in the UK and around the world.
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Explaining the background to the decision to invest in this area, Technology Strategy Board Chief Executive Iain Gray said: "Lighting accounts for up to 20% of the UK's power. As we move towards a lower carbon economy, and recognise the need for more efficient energy use, developing advanced light sources becomes increasingly important."
The Technology Strategy Board is a business-led executive non-departmental public body, established by the government. Its mission is to promote and support research into, and development and exploitation of, technology and innovation for the benefit of UK business, in order to increase economic growth and improve the quality of life. It is sponsored by the Department of Innovation, Universities and Skills (DIUS).
(GK/SP)
