Magway secures £1.9m UK government funding

Infrastructure tech company Magway has received £1.9 million of funding from the UK government for development of its underground parcel delivery concept.

The government funding is from the ‘Driving the Electric Revolution Challenge’, that aims to help make the UK a global leader in electric logistics technology. Magway is one of 14 winning companies in the competition that aim to improve supply chain efficiency in industries affected by electrification.

Phill Davies, co-founder and commercial director of Magway, said, “The revolutionary e-commerce and freight delivery technology is one of many ways innovative businesses can help the UK reach net zero by creating a more sustainable way to transport goods. In doing so, we help reduce the rising levels of air pollution which we know are responsible for causing serious illness, such as respiratory diseases that can lead to premature deaths in the UK.”

The Driving the Electric Revolution Challenge has made £36.7 million available to help electrify the UK’s most polluting industries. Some £30 million of this is to be used to create four centres of excellence around England, Scotland and Wales to research and develop electric vehicle technology. Magway is one of 38 major businesses sharing the remaining £6.7m to encourage industries to move away from fossil fuel technology.


Comments are closed.