Securing government funding for energy start-up
The energy start-up was looking to secure the rights to scope and extract lithium within the UK market. To start major operators, the company needed to raise funds by applying for a government grant to cover a significant proportion of its development spend.
Despite having substantial technical expertise, they were unfamiliar with the process and considerations behind bidding for public funds.
The bar for receiving funding in the area was high given the intense competition for limited government resources.
- Drawing on our knowledge of the policy landscape and experience in writing funding bids, Flint worked closely with the start-up to assess the feasibility of potential sources for funding.
- Flint identified a specific UK Research and Innovation’s (UKRI) funding pot as a key source of funding from which a bid had a good chance of being successful.
- Working closely with the start-up, Flint utilised their data and technical documents to draft a bid targeted at both the fund’s official criteria, as well as our understanding of the fund’s wider political interests and sensitivities.
- We successfully secured £700,000 for the start-up from the UKRI fund, representing a significant proportion of the business’s total funding to date.
- We opened up access to wider public and private funding channels for future revenue raises, with new funds being created to target similar projects.
- We continue to advise the start-up on the complex and evolving energy policy environment so it can shape and build its future commercial opportunities.