Scheme: Ignite with Ebico
Award: Investment Readiness Support
Company overview
LIND has developed a fully recyclable, long life, flow battery which can be installed inside traditional wet central heating systems, enabling safe, long term storage of electrical energy.
The system offers an innovative way to replace fossil fuel heating systems such as Oil and Gas, while providing a safe way to store energy that does not involve relatively short life electrical storage batteries.
The system involves replacing the water inside traditional radiators with proprietary electrolytes which both store electrical energy and distribute heat. When electricity is required, the electrolytes are passed through a small fridge-sized unit and electricity is produced.
The system can be used in a fixed residential homes, mobile homes, camper vans (RVs), small commercial offices and larger industrial applications such as botanical gardens.
Ignite with Ebico scheme has awarded Lind with the Investment Readiness Support package.
Challenge
Upon receiving c.£400K in grant funding, scaling its prototype to TRL6, and securing commercial trials, cleantech startup LIND was looking to raise a seed funding round of c.£500K. Armed with a patent-granted and highly novel dual heating and electrical energy storage system, LIND possessed a clear market opportunity and high probability for a high-growth future.
In order to demonstrate the longevity of the business to potential investors, LIND needed support clearly articulating its problem-solution fit, as well as showcasing the viability of its commercial model through financials and go-to-market.
Solution
We took a three phased approach with LIND. The first involved a gap analysis of all existing investment materials and financial forecasts. The second involved fleshing out the core content pillars identified and building the existing financials into a new financial model over a five-year projection period. We wrapped up by compiling this into a ready-to-send pitch deck with a slick brand identity update.
Outputs
The Investment Readiness Package was equipped with:
- The Investment Readiness Package was equipped with:
- Narrative & Problem-Solution Fit
- Value Proposition & Customer Segments
- Competitive Positioning
- Go-To-Market
- 5-year Financial Projections with model input tab
- Designed pitch deck
- Light-touch brand guidelines (typefaces, colour palette)
Impact
This package gave the LIND founders Jamie and Declan a clear understanding of what investors look for in new projects, a better overview of capital and resourcing needs over the next five years, and a deeper understanding of the steps they will take to reach the necessary number of units sold to achieve their goals.