INVESTMENT & FUNDING — SPW R&D PROGRAMME
Capital Allocation Framework
Corrected SPW co-financing figures for the 36-month experimental development programme. The R&D programme (TechCo) is financially separate from the founder-owned physical site (SiteCo).
TOTAL R&D PROGRAMME
€3,268,506.84
100% eligible budget
SPW CONTRIBUTION
€1,797,678.76
55% — subject to SPW approval
PRIVATE SHARE
€1,470,828.08
45% private co-financing
Personnel envelope: €1,515,000 within the R&D programme. The €3.65M founder site investment is separate and is not part of the SPW-supported budget or the 45% TechCo equity proposal.
FUNDING ROADMAP
Growth & Investment Roadmap
Indicative sequencing of the 36-month R&D programme and its funding sources. Stages are planned milestones, not guaranteed outcomes; SPW support remains subject to approval and compliance conditions.
STAGE 01 — FOUNDATION
Founder Site Investment — €3.65M
Founder-owned physical site (SiteCo) on Route du Condroz / N63. Held separately from the TechCo equity proposal.
STAGE 02 — PUBLIC SUPPORT
SPW Contribution — €1,797,678.76 (55%)
Proposed regional share of the €3,268,506.84 total R&D programme, subject to SPW approval and reporting milestones.
STAGE 03 — PRIVATE CO-FUNDING
Private Share — €1,470,828.08 (45%)
Covered through the proposed 45% TechCo equity offer. A proposal under discussion, distinct from the founder-owned site.
STAGE 04 — EXECUTION
36-Month Programme Delivery
Includes a €1,515,000 personnel envelope across the work packages. Results remain research targets until technically validated.
LEGAL & FINANCIAL BOUNDARIES
Two distinct structures, kept strictly separate: an equity proposal in the technology company, and a physical site owned by the founder.
MODULE A · PROPOSAL
TechCo Equity — 45%
The investor proposal concerns a 45% equity position in TechCo, the entity carrying the R&D programme, software, data and licensing activity. The 45% figure mirrors the private share (€1,470,828.08) of the €3,268,506.84 R&D programme. Terms are a proposal subject to negotiation and due diligence, not a final offer.
MODULE B · SITECO
Founder Site Ownership
The physical site on Route du Condroz / N63, backed by the €3.65M founder site investment, remains founder-owned and outside the TechCo equity proposal. TechCo uses the site as a testing environment under separate arrangements; investing in TechCo does not confer ownership of land, buildings or site equipment.