Rolls-Royce, one of the world's leading aerospace and defense companies, has been included in a massive £113m cash package to develop a groundbreaking new jet engine.
The investment, which was announced by the UK government on 7 September 2020, aims to support the development of the next-generation of sustainable aviation technology, which is expected to play a crucial role in reducing carbon emissions from the aviation industry.
The funding comes as part of the UK Aerospace Research and Technology (ART) programme, which is a joint initiative between the government and industry to boost the country's competitiveness in the global aerospace market.
The ART programme focuses on developing cutting-edge technology to improve the environmental performance of aircraft, enhance their safety, and improve their efficiency and resilience.
Under the latest investment, Rolls-Royce will receive £58m to develop its UltraFan engine, which is expected to offer up to 25% improvement in fuel efficiency compared to the company's existing Trent engines.
The UltraFan engine is set to be one of the most advanced and efficient engines ever developed, with features such as a new composite fan system, a geared architecture, and advanced cooling technology to enhance its performance.
The engine is also designed to be compatible with sustainable aviation fuels, which could help to reduce carbon emissions by up to 80%.
Rolls-Royce is one of the key players in the UK's aerospace industry, employing around 16,000 people across the country. The company has a strong track record of developing innovative aviation technologies, and has been involved in the development of many of the world's most advanced jet engines.
The latest funding from the UK government is expected to help Rolls-Royce to further strengthen its position as a leading player in the global aerospace market, and to contribute to the UK's efforts to achieve its net-zero carbon emissions target by 2050.
The ART programme is a key part of the government's wider efforts to support the UK's aerospace industry, which is worth around £35bn a year to the country's economy and supports around 230,000 jobs.
The latest investment is expected to create and support thousands of jobs in the UK's aerospace sector, and to help to drive innovation and growth in the industry in the years to come.