During this Feasibility Study, a key action completed was to validate the business model and sales figures against market conditions, this was achieved by: using market reports and competitor analysis to determine potential market share and best and worst case sales scenarios. We have developed a sales model which has been validated by voice of customer interviews and surveys collected at our demonstrator day, at which many key OEMs and Tier 1’s attended. We have also: assessed technical and commercial risks and identified mitigations; validated the business model and sales figures against market conditions; produced our Phase 2 project work plan and budget; developed marketing strategies and produced a five-year business model. All of these outputs have enabled us to review our business strategy and refine our business plan.
Having undertaken this Feasibility Study, we are now confident that the KRG 250 technology is commercially viable. Therefore, we are proceeding with our plans to reach market as soon as possible. To achieve this, we shall submit a Horizon 2020 Phase 2 application to enable us to complete the technology development to increase capability, to complete commercial trials to gain market reference and continue our current route for commercialisation.