Around 70 businesspeople attended an exclusive event aimed at helping the supply chain accelerate the energy transition.
Organised by research and development (R&D) tax credit specialist, ZLX Business Solutions, the event saw the launch of the technology growth fund (TGF) at the Macdonald Norwood Hall Hotel, Aberdeen.
The TGF creates a pathway for fast-growing British businesses to advance up to 150% of their qualifying R&D tax credit and support planned research and product development activity.
Delegates, including senior energy, finance and legal professionals, heard from R&D tax credit experts how innovative companies can bridge the funding gap to help accelerate their energy transition ambitions.
The event, chaired by Francis Kiernan, managing director of ABIS Energy, featured an esteemed panel of industry experts, including Bill Cattanach OBE (North Sea Transition Authority), Marion Murray (Scottish Development International), Ed Pollock (Net Zero Technology Centre), Jacqui Watt (ETZ), Stephen McCallion (ZLX Business Solutions), and James Teague (SPRK Capital).
Companies already claiming through existing R&D schemes, applying for grant funding via government agencies, or preparing for the next growth cycle can access alternative funding solutions to support innovation through ZLX’s partnership with SPRK Capital.
Stephen McCallion (ZLX Business Solutions), James Teague (SPRK Capital), and Francis Kiernan (ABIS Energy)
Stephen McCallion, founder and CEO of ZLX Business, commented: “It was our pleasure to host many of our friends, partners and contacts for this special event and to share more details around the launch of our newly-created technology growth fund.
“I would like to pay tribute to our chair, Francis, and the panel members who took time out of their busy schedules to take part in the discussion around where the energy transition goes from here and how supply chain companies can play an active role.
“ZLX is committed to fostering innovation with clients operating across more than 20 different industry sectors throughout the UK, including energy, manufacturing, life sciences, and food and drink.
“Through the TGF, we have the opportunity to transform the opportunities available to those businesses looking to invest in their internal products or processes that otherwise could not access appropriate funding.”
Through the TGF, companies registered in the UK for more than one year can borrow against their qualifying R&D spend and receive a low-interest loan worth up to 150% of their latest tax credit claim to fund current or future investment in innovation or product development.
ZLX will assess the claim and, provided the accompanying technical report is robust and meets the guidelines issued by HMRC, the client can receive funds directly into their bank account within seven days.
By advancing up to 150% of their R&D tax credit, businesses can boost cash flow and increase resilience during critical growth phases without having to accept investor capital, diluting ownership or relinquishing control of the business out of necessity.
To learn more about the technology growth fund and how innovative funding can help benefit your business, contact ZLX today at customerservice@zlx.co.uk.