A LEADING energy storage company has signed a deal which will see its headquarters based in Oxfordshire.

The Faraday Institution has agreed a ten year lease with the Harwell Science and Innovation Campus and will be based in the centre's new Quad building - due to open in the spring.

Faraday, which specialises in battery technology, will lease 3,500 sq feet of office space and join more than 30 public, academic and commercial organisations working in the energy field at the campus.

It follows a recent announcement by the Faraday Institution that £42million in government funding will be spent on research into batteries to help 'accelerate the electric vehicle revolution.

Four universities, including Oxford, will share the cash for projects looking at how to improve batteries for the future.

Peter Littlewood, Executive Chair of the Faraday Institution, said the campus provides 'the ideal home' because of its proximity to 'world-leading facilities.'