OXFORD, England--(BUSINESS WIRE)--ZapGo Ltd (Zap&Go) has been awarded a grant worth €1,43m (US$1.6m) by Horizon 2020, the European Union Framework Program for Research and Innovation. Zap&Go will use the grant to perfect the prototype cordless tools it has already developed, powered by its fast-charging cells. They will then be commercialized by OEMs in the fast-growing cordless sector.
Stephen Voller, founder and CEO, said, “In contrast to Lithium-ion batteries, our Carbon-Ion cells charge in five minutes or less and are proven to be safe to handle with fire risk. It is an honor to be one of the small percentage of organizations to have been selected for funding by the Horizon 2020 program and we look forward to pursuing the development program described in our grant proposal.”
In a self-funded feasibility study, Zap&Go established consumers’ interest in cordless tools employing its technology and has received commitments from major OEMs in joint development agreements. In the project being funded by Horizon 2020, Zap&Go intends to further develop its power modules and electronics, integrating them with cordless tools such as vacuum cleaners and power drills, then to build units to conduct customer trials.
According to the European Commission, less than one in twenty Horizon 2020 grant proposals succeed in getting funded, which highlights the program’s selectivity. The grant is, however, unaffected by the UK’s proposed separation from the EU in the years ahead.
About Horizon 2020
Horizon 2020 is the biggest EU Research and Innovation program ever with nearly €80 billion of funding available over seven years (2014 to 2020) – in addition to the private investment that this money will attract. It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. Horizon 2020 is the financial instrument implementing the Innovation Union, a Europe 2020 flagship initiative aimed at securing Europe's global competitiveness. Seen as a means to drive economic growth and create jobs, Horizon 2020 has the political backing of Europe’s leaders and the Members of the European Parliament. They agreed that research is an investment in our future and so put it at the heart of the EU’s blueprint for smart, sustainable and inclusive growth and jobs. By coupling research and innovation, Horizon 2020 is helping to achieve this with its emphasis on excellent science, industrial leadership and tackling societal challenges. The goal is to ensure Europe produces world-class science, removes barriers to innovation and makes it easier for the public and private sectors to work together in delivering innovation.
ZapGo Ltd is a technology company based at the Harwell Research Campus, Oxford with its US office in Charlotte, NC. Using novel nano-carbon materials as well as proprietary electrolytes they produce an ultra-fast, safe and durable power module that charges up in less than five minutes. For more information, please visit www.zapgo.com.