A British company that is developing technology to speed-up electric vehicle (EV) charging has been given £545,000 funding from the government.

Levistor claims its technology will provide EV drivers with a 100-mile range on just a five-minute charge.

It has stated its ‘flywheel’ stores energy from the grid when there is a low demand and releases it to EVs at a high speed when they require more power.

Chief Executive Matt Journee said: “We are delighted to have secured a grant, as it’s really important and indeed fair that rural communities can take full advantage of EVs, without worrying about charging.

“It’s equally important that local electricity grids in rural areas can handle the increased demand that can be expected as the EV-driving revolution takes hold. Levistor’s proven technology provides a neat and cost-effective solution.”