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How Engineva sparked $410,000
in refunds for a battery recycling start-up
Li-Cycle, a Toronto-based start-up was on a mission to solve the end-of-life lithium-ion battery disposal problem. The management team knew that their pioneering hydrometallurgy process might qualify for research funding. But how much funding? And how could they even begin to make a solid case?
Strategic positioning, strong
documentation, irrefutable defense.
In 2017, Engineva developed a strategy and positioning for Li-Cycle that encompassed the different types of SR&ED-eligible experimental work. From there, our experts began crafting wording that would make the claim as strong as possible.
The CRA had some additional questions about Li-Cycle and Engineva rose to the challenge, defending the eligible SR&ED work, related expenditures and all project documentations. CRA was very satisfied and approved the first claim, in full. A $60,000 refund was received for 2017.
Seizing six-times more funding
in year two.
By 2018, Li-Cycle was building a large processing plant and project expenditures were high. Engineva recognized new eligibility for a substantially larger SR&ED refund—almost six times as much money as 2017—if the research was positioned correctly to the CRA. Although the 2018 claim was substantially larger (typically grounds for further scrutiny or audit by the CRA) it was accepted within 30 days of submission, with no additional questions asked. A $350,000 refund was received for 2018.
Engineva opened up a whole other avenue of SR&ED funding for us. They were quickly in tune with our work, despite our broad scope, and had a grasp of all the pieces as we evolved—not something that just anyone could do.
It was a very positive experience, and if someone else was applying for funding, I would certainly point them in the direction of Engineva.
Three reasons to call
Engineva right now
Find out if you’re eligible. Learn whether your company
projects make you eligible to put in an SR&ED claim that could result in a substantial tax refund for your business.
Put R&D tax refund processes in place. Set up smart processes and CRA-friendly procedures to capture the right information for submitting successful SR&ED claims in the future.
Get SR&ED information. Learn about the SR&ED program… and why it could mean tens of thousands or more in tax refunds for your business!