R&D Tax Incentives
Unlocking Funding for Renewable Energy Innovation
Challenge
A renewable energy company needed funding to develop an energy generation system for slow-moving water bodies. Key challenges included:
- Optimising turbine design for low-speed water currents.
- Enhancing durability for changing environmental conditions.
- Developing an efficient energy conversion system.
Without additional funding, the project’s commercialisation was at risk.
Solution
Nexus Point secured R&D Tax Incentive funding, ensuring the client could continue development. We:
- Identified eligible R&D activities for compliance.
- Streamlined the claims process for faster funding.
- Provided documentation support for future claims.
Results
- Secured hundreds of thousands of dollars in R&D tax benefits.
- Enabled development of a functional prototype.
- Positioned the company for expansion into European markets.
This funding helped drive innovation and commercialisation.
