In early August the champagne corks were popping in Malvern!
An email from their contact in Pera Technology (www.peratechnology.com ) confirmed that the Phase 1 application to the European Union for Horizon2020 Grant Funding had been successful. The Phase 1 award was €50,000 to help fund the work required to be done before submitting a Phase 2 application in which the grant award could be up to €2.5Million!
The SACO score achieved by the examiners in Brussels was the highest from 2,500 applicants all over Europe. Only some 140 of the applicants were successful so SACO was adjudged to be in the top 5% of companies who applied. Great credit must go to Pera Technology for the quality of their work that went in to the application.
Tony O’Donnell explained “Pera did a fantastic job for us; we could not have done it without them. The confidence that this award gives to the SACO and RIFT team can’t be measured just in Euros”
“This will accelerate the growth of the business to the next level and has certainly lifted the profile of RIFT Technology in a massive way. We are now being encouraged to apply for other projects now, in collaboration with Partners, in the fields of Small Wind Generators (SWGs) and drive motors for vehicles and vessels. The next few years certainly won’t lack excitement for the team!”