Photo of John Hemming

John Hemming (Birmingham, Yardley, Liberal Democrat)

To ask the Secretary of State for Trade and Industry what progress the Department has made in relation to the trading activities of OM Energy Ltd.; what support the Government have provided for the company and its associated companies; and if he will make a statement.

Photo of Ian McCartney

Ian McCartney (Minister of State (Trade), Foreign & Commonwealth Office, Minister of State (Trade), Department of Trade and Industry; Makerfield, Labour)

OM Energy is a research stage company and is one of a pipeline of early-stage companies being assisted by UK Trade and Investment's Global Entrepreneur Programme (GEP). The GEP, which aims to attract entrepreneurial talent and technologies based overseas to relocate and carry out business in the UK, has provided normal Dealmaker support including information and guidance to the scientists and founders on the following, during Phase 1 of the project:

Information on establishing a UK company

Establishing a UK bank account

Assigning the core patent to the UK company

Introductions to non-governmental private equity sources of seed capital for early-stage high-risk research projects

Filing for worldwide patents with UK patent agents

Introductions to the UK scientific community to award a contract to characterise the research

Information on British companies to procure specialist materials required.

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