Introduction

Introduction

Power Energy Industry Research and Technology Fund, Also known as Energy Fund, was established on February 21, 2015 in order to support, develop, and promote electric power industry as one of the initial areas with the potential of steady growth and in accordance with article 100 of the third, article 45 of the fourth, and section (A) of article 17 of the fifth development law of Islamic Republic of Iran, article 44 of “Removing Barriers to Competitive Production” law, and improving the country’s financial system with the purpose of expansion of researches conducted at the private or cooperative sector. In a nutshell, facilitation and expansion of private sector’s activities in research, transfer, absorption and localization of technical and know-how knowledge in electric power industry.

Vision

Pioneer in financial planning and facilitation to develop power industry technology

Mission

  • Venture Capital (V.C.) investment, collaboration, and investing in non-governmental research and technology projects such as developing prototypes or test facilities.
  • Collaborate with investment companies active in the design and production of IRAN’s electric power generation, transmission, and distribution investment fields.
  • Granting credit facilities or profit subsidy to individuals and legal entities to implement research and technology projects in order to manufacture industrial and semi-industrial products.
  • Commercializing risk coverage of products or services originated from electrical industry research and technology.

Acceptance priorities

  • Conformity with electric power industry priorities.
  • Credibility level of the project.
  • Technical and economic feasibility and profitability, technology level, and product market.
  • Submission of authorities’ verifications.
  • Credibility of the applicant and the team (related work experience and technical proficiency).
  • Applicant’s commitment on the use of internal resources, facilities, and work force.
  • Applicant’s commitment on the agreed time table based on the proposed business plan.

Scope of support

  • Research on innovative ideas.
  • Projects on prototype, production and mass production stages.
  • Generating technical knowledge and transfer new products from R&D results to manufacturing.
  • Expansion and localization of modern technologies.
  • Other projects based on Credit Committee and board of directors suggestions in accordance with the Fund policy.