British Prime Minister David Cameron announced increased funding for smart technologies at the CeBIT technology fair in Germany.

Mr Cameron said the UK government is to increase funding of Internet of Things (IoT) projects by £45 million to £73 million.

It will also launch a new £1 million European Internet of Things grant fund to support early stage companies working on new smart technologies.

Cameron said: “[The Internet of Things] has enormous potential to change our lives. Electricity meters that talk to the grid to get you the best deals. Water pipes that warn of a fall in pressure. And yes, even a fridge that can order you milk when it notices you are getting low.”

The announcements promise a boost to the UK’s clean tech sector, which has long argued that IoT or smart appliance technologies will play a major role in enhancing energy and fuel efficiency, cutting emissions, and supporting the rollout of renewable energy systems.

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