Magway secures US$2.3m of government funding

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Magway has secured £1.9m (US$2.3m) of funding from the UK government to develop its underground delivery system.

The funding comes from the UK government’s ‘Driving the Electric Revolution Challenge’, a project aiming to make the UK a global leader in electrification technology.

Magway’s underground e-commerce and freight delivery system is one of 14 winning projects aiming 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 government project has made £36.7m (US$44.9m) available to introduce electric machinery to the UK’s most polluting industries.

£30m (US$36.7m) of this is being used to create four new centers of excellence based in Newport, Nottingham, Strathclyde and Sunderland to research and develop electric machines.

Magway is one of 38 major businesses sharing the remaining £6.7m to encourage industries to move away from fossil fuel technology.

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