KPMG in Cyprus demonstrates its experience in the fundraising sector, acting as the exclusive advisor to EnergyIntel Services Limited, a Cyprus domiciled company who is pushing new boundaries in the renewable energy sector. Their successful EU fundraising journey has validated the technology and has taken them one step closer to building an investable and sustainable renewable energy solution.
Developing a uniquely dispatchable Concentrated Solar Power system with the capability of storing solar energy and providing electricity on a 24/7 basis, EnergyIntel is revolutionising the renewable energy market with the aim of reversing the ever-impending impact of climate change.
The need to secure funding in today’s overcrowded and competitive environment is crucial for growth companies. The EU offers several funding programmes specifically geared towards projects which are aligned to addressing EU policies and at promoting innovative products. The latest EU Programme was aimed at “Development and Promotion of Internationally Competitive Innovative Products and Services by Existing Enterprises”, under the funding scheme “RESTART 2016-2020”. Applicants could apply for up to €1 million in grant funding under this scheme.
Success is achieved when collaborations and active working relationships generate efficiencies and complement each other. When EnergyIntel sought to apply for the EU funding programme, KPMG was there as a trusted advisor to support in delivering real results for the project.
KPMG supported the company throughout the entire process providing an end to end solution. The solution included the development of a competitive proposal which concisely demonstrated innovation aligned to the programme’s objectives. Over 50 companies applied to the programme, 26 of which were invited to pitch and 9 of which were successfully awarded with a funding amount.
EnergyIntel managed to successfully secure the maximum grant of €1 million. The successful outcome demonstrates how KPMG can support its clients to stand out in any highly competitive process and to identify effective funding solutions for their projects.
Under the Enterprise & Startups framework, KPMG assists newly-developed ventures from a business lens and utilises proprietary global industry insights to ensure that they are given a head start. This framework supports companies from the initial stage of a business lifecycle, to expose them to valuable marketing opportunities and to provide the right support as they grow. In conditions of extreme uncertainty, addressing the challenges ahead requires passion, focus and substantial resources. Our relentless focus on quality is reflected in our people and success stories.