The contract with the university to develop the new energy storage device — known as a "supercapattery" — aims to improve energy storage technologies and energy efficiencies for businesses.
Made from carbon nanotubes chemically engineered with advanced battery materials, the supercapattery has a variety of applications ranging from powering portable electronics such as notebook computers, to using arrays of supercapatteries which would offer large scale energy storage solutions for power companies.
Supercapatteries can also be brought into action at very short notice to provide the additional power required, and the crucial stability needed by the national grid, in the event of a national power surge.
"Typically, an extra five per cent of the power of the national grid is standing by in reserve in case of a surge, for example when everyone puts their kettle on after a football match has finished," Professor George Chen, who is leading on the supercapattery project for the University, said.