ISEA helped secure funding for a pilot plant facility to demonstrate the scalability of a new renewable energy source.
The client was Swedish start-up company, Marin Biogas, which has developed a new concept for renewable energy supply that also offers a beneficial environmental impact on the marine environment. The company had verified the concept on a laboratory scale and also made large scale production tests. However in order to facilitate a market launch, the concept needed to be demonstrated and verified in a large-scale pilot facility and the company therefore needed to acquire new funding. Being an unproven business with scale-up risks and with inherent uncertainties regarding public subsidies this was a major challenge.
ISEA experts together with Triathlon consultants helped the company identify potential financial sources, and in cooperation with the start-up managed the financing process. To achieve this, the team conducted a study to assess suitable public financial partners. With the public funding arena being fragmented it is often hard and complex to penetrate. Leveraging ISEA’s networks and knowledge around public funding schemes a number of options were located and evaluated. The team also prepared applications for the project and facilitated communications with the two financing organizations deemed suitable supporting the concept: one EU organization and one Swedish national authority.
The project was approved by both funding entities, securing a total 2.5 M€ in funding for the pilot plant.
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