U.K. Allocates $898 Million of Funding for Aerospace Technology Development
The U.K. allocated a record 685 million pounds ($898 million) of funding over the next three years for the development of aerospace technology, as the industry gears up to make the transition to renewable fuel.
The Aerospace Technology Institute will receive an increase of more than 50% on its previous award, the government said in a statement. The group is a partnership between the state and businesses, and the figure will rise to more than 1 billion pounds once an industry contribution is added.
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