A world changing hybrid-electric jet engine motor could be the result of the latest round of Government funding for science projects.

As part of this year's investment found, 29 million dollars from MBIE has been awarded to Victoria University projects, including six point three million for the jet plane project.

Deputy director of the Robinson Research Institute Doctor Rodney Badcock says the project will aim to create a much more efficient aircraft with drastically reduced emissions.

Dr Badcock says he is very pleased with the funding money and hopes New Zealand can lead the way with something this significant.

"It's the holy grail of technology, internationally across the globe they're seeking the solution."

He says this is the holy grail of technology and has huge international implications if a hybrid solution isn't found.

"It's over 20 billion dollars a year of trade, if we don't solve this problem the world will start putting tariffs on our high value goods being exported and on air travel to to New Zealand."

They hope to be able to test the hybrid electric engine within five years.