ERD
31/07/2015 15:51
GENERAL
NOT PRICE SENSITIVE
REL: 1551 HRS EROAD Limited
GENERAL: ERD: EROAD Receives Callaghan R&D Growth Grant
EROAD receives Callaghan R&D Growth Grant
31 July 2015 EROAD is pleased to announce it has received approval from
Callahan Innovation for a Research and Development (R&D) Growth Grant.
Growth Grants are available to companies with a proven track record in
delivering R&D. EROAD invests heavily in R&D, having invested a total of
$8.2 million in the year ended March 2015.
"We have a number of major R&D initiatives underway which will enable us to
provide new innovative products and services to our existing customers in New
Zealand, Australia and Oregon as well as new customers across North America,"
said EROAD CEO Steven Newman.
EROAD expects to receive Growth Grant funding of upwards of $2 million during
the three-year Growth Grant period.
Callaghan Growth Grants are available to New Zealand companies undertaking
R&D. Callaghan will fund 20% of eligible R&D expenditure, capped at $5m per
annum. Eligible R&D expenditure excludes development expenditure capitalised
to the Balance Sheet.
For further information contact:
Steven Newman
Chief Executive Officer
EROAD Limited
DDI: 09 927 4713
Email: [email protected]
About EROAD
EROAD is a leading transport technology and services company, headquartered
in Auckland, New Zealand, with offices in Portland, Oregon, and Melbourne,
Australia. EROAD's in-vehicle technology and global electronic platform
provides heavy transport operators with automated solutions to manage and pay
road user charges, to meet regulatory and compliance obligations, and to
provide a range of commercial services. www.eroad.co.nz
ENDS
End CA:00267800 For:ERD Type:GENERAL Time:2015-07-31 15:51:02
