Public Funding for The Quarry Battery Company Limited

A PROOF OF MARKET GRANT is sought to conduct further research, modelling andexternal validation of the future supply and demand for FR in the UK, together with theproposed QBC trading strategy.The Quarry Battery Company (QBC) is at the forefront of developing additional FastResponse (FR) electricity reserve. FR is a fundamental requirement of keeping the UKnational grid stable and the nation's lights on. Demand for FR is forecast to double over thenext 20 years and existing facilities already operate at near full capacity.The UK Climate Change Act 2008 commits the UK to a significant increase in wind andnuclear generation to a 2050 time horizon. Additional demand for FR is a hidden butinevitable consequence of UK energy policy. There should be a guaranteed and expandingmarket for the FR class of electricity to be produced by the small and medium scale facilitiesdeveloped by QBC.For QBC to raise the necessary finance to bring an identified site into operation IT ISIMPERATIVE potential external investors/commercial banks/operating partners ACCEPTTHE REVENUE FORECAST AS BEING REALISTIC.This work is intended to do just that. It will be lead by Dave Holmes the MD of QBC withexternal support from recognised industry expert Dr David Nicols, whilst Godfrey Boyle, ofthe Energy and Research Unit at the Open University, and other academic institutions, willundertake external validation.QBC has raised £400,000 in start up equity funding to take forward the first site at GlynnRhonwy in North Wales. Land rights negotiations are under way on several other sites.Refusal of grant funding would seriously divert early stage investment money that is requiredto meet the substantial cost of the planning application.By validating the market concept, THIS GRANT FUNDING WILL RETURN THEFOLLOWING BENEFITS TO UK PLC:-•add resilience to supply network;•bring additional competition in the market FR; and•find a commercial use for disused quarries