Grant funding updates - March

    Abbey Tax funding team gets EV batteries ready for take off

    Electric vehicles (EVs) have huge potential to improve urban air quality by displacing diesel vehicles. However, current charging infrastructure does not suit typical usage patterns. Simply installing more rapid chargers would not work; current electricity substations would not be able to cope with the unpredictable surges in demand this would cause.

    Our customer recently won Phase 1 SBRI funding of £50k from Innovate UK to investigate the business case to deploy an innovative power pack for EVs around major transport hubs, in this case an airport. Our customer has developed a rapid EV charging system based on a similar concept to power banks for mobile phones and tablets. This combines cutting-edge battery technology with innovative control electronics to rapidly charge EVs using electricity harvested from renewables, off-grid generators or during off-peak hours. This circumvents problems of EVs adding to peak demand on electricity grids. Widespread deployment could also provide a useful sink for ‘wrong-time’ renewables.

    They approached our team to advise on their project and business case for a larger Phase 2 proposal. We have recently received the good news that this application has been successful and, shortly our customer will commence a £3.1m project, grant funded at 100% in collaboration with a major airport and electric vehicle and car rental company.

    Could the funding team help you?   

    We continuously monitor funding opportunities, from multi-million pound international collaborative grants to small start-up loans. We can produce bespoke funding reports upon request, making sense of the myriad of different grants and business loans out there. We can prepare complicated application forms and answer the market and commercial questions that so many small businesses struggle to understand. Our service doesn’t stop with producing an application; we guide customers through the administration of accepting and running a grant as well.     

    Key open funding calls


    Innovate UK emerging and enabling technologies - funding from £35k to £2m for projects in emerging technologies, digital economy, electronics, sensors and photonics, robotics and autonomous systems and space.

    Reimagining railways - funding from £150k to £1m for collaborative projects that deliver high-value, low-cost innovations that translate into better services for passengers and improvements to station design and performance.

    Regional funding - various capital grant and loan schemes throughout the UK. Please contact the team for more details.

    We expect an announcement in the next few weeks about Innovate UK’s funding for 2017-18.
     
    If you would like to explore the funding available, please contact a member of the team on 0114 236 4457 or email marketing@abbeytax.co.uk.