The aim of the 3-year CHARIOT project is to reduce the risk and potential adverse consequences of ransomware attacks in Industrial IoT (IIoT) network deployments comprising severely constrained wireless embedded and other cyber-physical devices. Through the proposed research, we want to increase the difficulty of mounting successful ransomware attacks against IIoT and cyber-physical systems, making them less attractive targets for perpetrators. To that effect, CHARIOT will devise, design, and prototype creative, cutting-edge solutions for the detection, prevention, recovery and immunisation of/from ransomware attacks in IIoT environments. Research outcomes and artifacts will be made available to industry professionals and the IoT security research community, to benefit from our findings and to foster collaboration towards creating more secure IoT and cyber-physical ecosystems. Artifacts will include IoT ransomware datasets, a ransomware proof of concept prototype, and a toolkit for the detection, prevention, and recovery of/from ransomware attacks. These engineering artifacts will be accompanied by a set of recommendations and best practices for IoT developers and industries in general. The proposed research is aligned with the aim and objectives of the Research Institute in Trustworthy Interconnected Cyber-physical Systems (RITICS). CHARIOT is secondarily also relevant to the Research Institute in Secure Hardware and Embedded Systems (RISE) and the Research Institute in Verified Trustworthy Software Systems (VeTSS).