PipeHawk rejected for funding again, intends to reapply

PipeHawk updated the market on its application for Phase 2 H2020 funding to assist with the marketing and distribution of its eSafe product on Friday, after its board advised it was re-submitting at the time of its interim results on 20 March.

The AIM-traded company said it had received a further rejection of the application, with a score described as “marginally below” the required level.

“In the knowledge that the initial grant received in December 2015 was obtained on the third attempt, the company intends to keep re-submitting applications for future rounds of funding until it becomes apparent that the company has little chance of obtaining a grant,” its board said in a statement.

“A further announcement will be made in due course.”