Dyson sets sights on energy storage market in £2.75bn investment plan

British company Dyson has confirmed that a new, £2.75bn five-year global investment plan, will include commercialisation of solid-state battery technology and a move into the energy storage market.

Dyson said it was also investing more into research in the fields of robotics, next generation motor technology, intelligent products, machine learning, connectivity, and material science.

“A key focus is the commercialisation of Dyson’s proprietary solid-state battery technology, which is under development in the US, UK, Japan and Singapore,” the company said. “It promises safer, cleaner, longer-lasting and more efficient energy storage than today’s existing batteries.”

The company did not disclose the next steps for its battery aspirations, but it has been ramping up R&D; since its acquisition in 2015 of Michigan-based solid-state battery developer Sakti3.

CEO Roland Krueger said energy storage systems would form part of a new portfolio of Dyson technologies and products.

“Now is the time to invest in new technologies such as energy storage, robotics and software, which will drive performance and sustainability in our products for the benefit of Dyson’s customers. We will expand our existing product categories, as well as enter entirely new fields for Dyson over the next five years.”

Krueger also confirmed long-standing plans to relocate Dyson’s global head office from the UK to Singapore – but said the company would be expanding operations in the UK, Singapore and the Philippines.

The new investment strategy comes a year after company founder Sir James Dyson, best known for inventing household appliances including vacuum cleaners, scrapped plans to produce a battery electric vehicle.