ElectriFI received 290 applications during its first Invitation for Proposals which was open from 15 April 2016 until 6 May 2016. 19 projects have received approval by our selection panel to proceed from Phase 1 to Phase 2, in which the applicants will be asked to submit a more detailed proposal. Projects that pass the Phase 2 screening will be presented to the ElectriFI Investment Committee for Clearance in Principle.
Beyond the 19 selected projects, there are many applications that demonstrate great potential. However, ElectriFI can only start with a limited number. In our selection process, we looked at the quality of the proposals and the spread within the portfolio (e.g. geography, technologies, business models).
The results of Phase 1 will be communicated to all applicants in the week commencing 20 June 2016. Successful applicants will be informed on the next steps. The applications that have not been selected in this Round, will be notified shortly thereafter.
ElectriFI expects to announce a second round in the first quarter of 2017.