University-led research projects to investigate graphene and the functioning of the human brain each won 1 billion euros ($1.35 billion) in European Union funding, the European Commission said.
Researchers at Sweden’s Chalmers University will lead a project to investigate graphene, the thinnest and toughest material ever produced which conducts electricity 30 times faster than silicon. Royal Philips Electronics NV, Alcatel-Lucent SA, Thales SA and Nokia Oyj are among companies involved in the program. Another project simulating the way the human brain works is led by researchers at the Ecole Polytechnique Federale of Lausanne, Switzerland, and includes SAP AG, Cray Inc. and International Business Machines Corp.
The EU said the funding will be paid out over 10 years with an initial grant of up to 54 million euros to each project this year, according to an e-mailed statement. The two projects were selected over 19 others.