European Commission

European Regional Development Fund encourages innovation, enhances regeneration, and provides support to businesses in the European Union.

Kerstin Bock

Member of the EIC Fund Investment Committee

Valdis Dombrovskis

Vice President

Pearse O'Donohue

Director for the Future Networks, DG CONNECT

Past deals in CleanTech

Thorizon

Series A in 2025
Thorizon is a deep-tech startup spun off from the Dutch Nuclear Research Institute, with offices in Amsterdam and Lyon. It is developing thorium molten salt reactor technology designed to provide a responsible, carbon-free energy source by using long-lived nuclear waste and thorium as fuel, with a focus on safety and circularity. The company aims to deliver a scalable demonstration and to begin constructing a first-of-a-kind reactor by 2030, named Thorizon One. It collaborates with industry leaders including Orano, Tractebel, and EDF and has been recognized as a laureate in the France 2030 program for advanced nuclear projects.

Farmless

Grant in 2024
Farmless is a food technology startup developing a fermentation platform that converts renewable-energy feedstocks into carbon-negative, functional proteins and other nutrients, reducing reliance on arable land. By domestifying microbes with food-relevant properties and growing them on liquid feeds powered by renewable energy, it enables scalable, low-cost proteins with a complete amino acid profile while lowering farmers’ carbon footprints. The approach links food production with electricity, creating a new interface between energy and nourishment.

Vulcan Energy Resources

Grant in 2024
Vulcan Energy Resources is a European-focused energy and mineral company developing geothermal energy and lithium production from subsurface brine in the Upper Rhine Valley, Germany, with additional projects in Norway. Its Lionheart Project integrates lithium extraction with renewable geothermal power to deliver battery-grade lithium and renewable heat for local use. The company has developed VULSORB, an aluminate-based sorbent, to extract lithium from brine and aims to provide a local, low-emission lithium supply for the European battery industry. The business traces back to 2018 and originated as Koppar Resources before renaming; its activities center on sustainable lithium production and geothermal energy in Europe.

Elcogen

Grant in 2024
Elcogen is a manufacturer and developer of high-performance anode-supported Intermediate Temperature Solid Oxide Fuel Cells (IT-SOFC) and SOFC stacks, established in 2001. The company specializes in proprietary materials and technological solutions that enhance the efficiency of solid oxide fuel cells, which are recognized as the most efficient method of energy conversion. Elcogen's technology significantly reduces emissions from natural gas systems, providing twice the power for the same amount of gas. Additionally, its fuel cells facilitate renewable energy generation by converting electricity into hydrogen for long-term storage. With a focus on efficiency, flexibility, and reducing commercial costs, Elcogen aims to support industries in the transition to green hydrogen production and contribute to a cleaner energy future.

Bolder Industries

Grant in 2024
Bolder Industries is a company based in Boulder, Colorado, founded in 2011, that specializes in the conversion of end-of-life tires into sustainable materials. It processes waste tires to produce an alternative to carbon black, along with petrochemicals, steel, and energy, while minimizing waste. The company's mission focuses on addressing the growing issue of tire waste and promoting the demand for sustainably sourced materials. Through its innovative technologies, Bolder Industries aims to reduce greenhouse gas emissions, lower water consumption, and decrease electricity usage, all while creating manufacturing jobs.

Aura Aero

Grant in 2024
Aura Aero designs and manufactures aircraft with a focus on accelerating air transport decarbonization.

HydrogenPro

Grant in 2024
HydrogenPro AS specializes in designing and supplying customized hydrogen plants for industrial clients, focusing primarily on alkaline high-pressure electrolysers. Founded in 2013 and based in Porsgrunn, Norway, the company offers a range of solutions, including containerized systems for small plants and indoor installations for medium-sized facilities. Its expertise in hydrogen technology positions HydrogenPro as a key player in the growing market for hydrogen production.

NEL Hydrogen

Grant in 2024
Nel ASA is a leading hydrogen company based in Norway, specializing in the production, storage, and distribution of hydrogen derived from renewable energy sources. The company operates through several segments, primarily focusing on hydrogen fueling stations and electrolyzers. Its H2Station technology offers efficient fueling solutions for fuel cell electric vehicles, ensuring fast refueling and long ranges comparable to conventional vehicles. Nel ASA also manufactures hydrogen generation plants utilizing advanced water electrolysis technology, catering to various industrial applications and energy systems globally. With a strong emphasis on delivering comprehensive hydrogen solutions, the company serves diverse sectors, including industries and energy firms, positioning itself as a key player in the transition to sustainable energy. Founded in 1927 and originally known as DiaGenic ASA, it rebranded in 2014 and maintains headquarters in Oslo while operating facilities in Notodden and Porsgrunn.

Compular

Grant in 2024
Compular specializes in the development of advanced analytic tools for high-tech materials. The company focuses on providing simulation and analysis capabilities that predict material properties based on intuitive design principles. Their tools deliver actionable insights into the properties of materials and liquids, facilitating the screening of candidate formulations and predicting parameters for continuum scale simulations. By employing finely tuned molecular dynamics and density functional theory, Compular enhances mechanistic understanding of material functions. Their applications span various industries, including batteries, fuel cells, metals and alloys, pharmaceuticals, electronics, and chemicals, ultimately enabling clients to adopt a predictive approach in their R&D processes and improve the success rate of laboratory trials.

Lightsource BP Renewable Energy Investments

Debt Financing in 2024
Lightsource BP is a global leader in the development, acquisition, and management of large-scale solar energy projects. Specializing in utility-scale solar project development, the company excels in its in-house planning and operational capabilities, allowing it to act as both the owner and manager of its projects. By collaborating with utilities, businesses, local communities, and governments, Lightsource BP addresses the increasing demand for affordable and sustainable energy. The company is committed to delivering competitively-priced, reliable clean energy solutions and aims to deploy at least 8GW of solar capacity worldwide in the coming years. Its focus on solar and smart energy solutions positions Lightsource BP as a significant contributor to the future of global energy delivery.

SolarSpring

Grant in 2024
SolarSpring GmbH is a German company based in Freiburg that specializes in the development, construction, and operation of solar water treatment and desalination systems. Founded in 2009, the company is committed to using clean materials and renewable energy sources, including thermal and photovoltaic energy, as well as waste heat, to enhance water purification technologies. SolarSpring's key product, the Oryx 150, is a desalination solution designed for autonomous water supply, suitable for various applications, including the treatment of sea and brackish water, as well as contaminated water. The company focuses on innovative water purification systems that operate effectively with limited energy resources, employing techniques such as membrane distillation and UV disinfection. SolarSpring GmbH operates as a subsidiary of Industrial Solar Holding Europe AB.

Elcogen

Grant in 2023
Elcogen is a manufacturer and developer of high-performance anode-supported Intermediate Temperature Solid Oxide Fuel Cells (IT-SOFC) and SOFC stacks, established in 2001. The company specializes in proprietary materials and technological solutions that enhance the efficiency of solid oxide fuel cells, which are recognized as the most efficient method of energy conversion. Elcogen's technology significantly reduces emissions from natural gas systems, providing twice the power for the same amount of gas. Additionally, its fuel cells facilitate renewable energy generation by converting electricity into hydrogen for long-term storage. With a focus on efficiency, flexibility, and reducing commercial costs, Elcogen aims to support industries in the transition to green hydrogen production and contribute to a cleaner energy future.

Verkor

Grant in 2023
Verkor is a manufacturer of battery cells dedicated to increasing the production of low-carbon batteries to meet the rising demand for electric vehicles. The company emphasizes the development of batteries that have a significantly reduced carbon footprint compared to traditional options, which minimizes emissions associated with logistics. By utilizing carbon-free electricity in its production processes, Verkor aims to provide businesses with cost-effective battery solutions that align with sustainability goals.

Zunder

Grant in 2023
Zunder is an electric vehicle charging company focused on developing a network of charging stations that provide convenience and accessibility for electric car drivers. The company offers semi-fast and fast chargers, allowing users to charge their vehicles efficiently. In addition, Zunder has created a mobile application that facilitates the registration of charging requests, point management, and payment processing. This application enables clients to plan their routes and book charging sessions, enhancing the overall charging experience for electric vehicle users.

ICODOS

Grant in 2023
ICODOS is a technology company specializing in the production of e-methanol, a clean alternative to conventional methanol. It has developed a patented hybrid process that enables cost-competitive and rapidly scalable e-methanol production, targeting the decarbonization of the chemical and shipping industries. The company's unique value lies in its innovative technology, which offers a significant cost advantage and unmatched operational flexibility, ensuring efficient carbon dioxide capture and reduced operating costs.

Sunfire

Grant in 2023
Sunfire is a company that specializes in developing and manufacturing systems for renewable industrial gas and fuel production. It focuses on creating substitutes for fossil fuels, such as mineral oil and natural gas, through innovative technologies like electrolyzers and solid oxide cells. These systems convert renewable electrical energy from sources like wind farms, hydropower plants, and photovoltaic systems into fuels and gases, including renewable hydrogen and syngas. By enabling the chemical, fuel, and steel industries to transition away from fossil energy, Sunfire aims to provide sustainable energy solutions that are available whenever needed, thus integrating renewable energy into existing infrastructures.

Vianode

Grant in 2023
Vianode specializes in developing sustainable anode graphite solutions for the electric vehicle battery industry. The company focuses on enhancing battery performance and sustainability through innovative products, including recycled graphite. Vianode's commitment to recycling initiatives supports a low-emission battery ecosystem, contributing to environmental goals within the sector.

Absolicon Solar Concentrator

Grant in 2023
Absolicon Solar Concentrator AB produces and installs solar energy systems. It offers solar concentrators and collectors. The company provides X10, which produces electricity and heat for hot tap water, heating, heat-powered air conditioning, and desalination or process heat applications. Its products are used in photovoltaic thermal applications, hotels, hospitals, apartment buildings, sport centers, industries, airports, restaurants, and supermarkets in southern Europe. Absolicon Solar Concentrator AB was founded in 2007 and is based in Härnösand, Sweden.

NitroCapt

Grant in 2023
NitroCapt is a climate-tech company developing a patented chemical process, SUNIFIX, to produce climate-neutral nitrogen fertilizers. The process uses only air, water, and renewable energy to enable sustainable, fossil-free production of nitrogen fertilizer, with a focus on Europe. By replacing fossil-based inputs, NitroCapt aims to reduce environmental impact while maintaining cost efficiency and crop yields, helping agricultural producers transition to a decarbonized nitrogen fertilizer supply. The company positions its technology as enabling producers to be more profitable than continuing with traditional fertilizers, while advancing sustainability in agriculture.

Sono Motors

Grant in 2023
Sono Motors is a solar mobility solutions company focused on integrating solar technology into electric vehicles. It designs and develops its own solar electric vehicle, the Sion, with solar panels embedded in the vehicle body to charge the battery, aiming to extend range and reduce CO2 emissions. The company pursues solar integration across various vehicle platforms, including passenger cars and commercial vehicles, and offers related products and services such as solar modules, solar charge controllers, data services, and engineering services. Founded in 2016 and headquartered in Munich, the company emphasizes renewable energy powered mobility and climate-friendly transportation.

Ørsted

Grant in 2022
Ørsted develops, maintains, and operates offshore and onshore renewable energy farms, energy storage facilities, and bioenergy plants. Its vision is a world powered entirely by green energy. Formerly known as DONG Energy, Ørsted has transformed from a black to a green energy company over the past decade, reducing its coal consumption significantly and aiming for full phase-out by 2023. As a global leader in offshore wind with a market share of 25%, it currently powers approximately 9.5 million people.

Everfuel

Grant in 2022
Everfuel Denmark A/S is a green hydrogen company based in Herning, Denmark, specializing in the production and sale of green hydrogen fuel across several European countries, including Denmark, Norway, Sweden, the Netherlands, Germany, and Belgium. Founded in 2017, the company serves a diverse range of applications, providing hydrogen fueling solutions for heavy-duty vehicles such as buses, trucks, and taxis, as well as marine vessels and private cars. Everfuel operates hydrogen production facilities, distribution networks, and fueling stations, ensuring accessibility for both mobility customers and industrial stakeholders involved in alternative hydrogen-based fuels and Power to X products. By collaborating with vehicle manufacturers, Everfuel aims to enhance the hydrogen value chain and offer competitive, long-term contracts to enterprise customers.

FORVIA

Grant in 2022
FORVIA is an automotive technology group based in Nanterre, France, specializing in vehicle interiors and emission control technologies aimed at promoting sustainable mobility. Founded in 1997, the company collaborates closely with automakers to develop vehicles that are cleaner, lighter, more comfortable, and highly customizable. Through its innovative solutions, FORVIA seeks to enhance the driving experience while addressing environmental challenges in the automotive industry.

MagnoTherm

Grant in 2022
MagnoTherm, founded in 2019 and headquartered in Darmstadt, Germany, specializes in innovative magnetic cooling and heating technologies. With a team of over 40 experts in magnetocaloric materials, the company is committed to addressing the climate crisis by revolutionizing the cooling industry, which accounts for approximately 7% of global CO2 emissions. MagnoTherm's technology offers an alternative to traditional gas compression systems, boasting up to 30% greater energy efficiency while being non-explosive, non-flammable, and requiring low maintenance. The company aims to meet the increasing demand for sustainable and cost-effective cooling solutions, providing a viable pathway for policymakers to transition from outdated gas compression methods that have remained unchanged for nearly two centuries.

Stockholm Exergi

Grant in 2022
Stockholm Exergi is Stockholm's energy company specializing in resource-efficient district heating, district cooling, and electricity production. It operates biomass combined-heat-and-power plants, contributing to a more sustainable and climate-positive city.

Bound4Blue

Grant in 2022
Bound4Blue develops foldable wingsail systems for integration onto various vessels. Their technology harnesses wind power to reduce fuel consumption and pollutant emissions by up to 40%, with a payback period under five years.

Kitemill

Grant in 2021
Kitemill develops technology for generating renewable energy safely and cost-effectively using airborne wind power. This innovative approach harnesses the stronger, more consistent winds high above Earth's surface, offering a nearly unlimited source of clean energy.

AEInnova

Series A in 2021
AEInnova develops autonomous industrial monitoring devices for predictive maintenance. Its flagship device InduEye is battery-free, self-powered, and capable of edge computing for real-time vibration, thermal, and steam-trap monitoring, powered by waste heat with optional solar or wind energy. It uses LoRaWAN or NB-IoT/LTE-CAT M for communications and streams data to cloud dashboards with analytics, alarms, and environmental impact analysis. The system aims to reduce downtime and maintenance costs through non-invasive, self-sustaining monitoring. Certifications include CE and ATEX/IECEX, with FCC ongoing. The technology is deployed across sectors such as oil and gas, aluminium, steel, paper, rubber, water treatment, and energy, with customers including Repsol, Cepsa, ArcelorMittal, Enel, and others. AEInnova has been recognized as a leading EU scale-up with multiple awards and EC funding, and participates in EU R&D initiatives related to energy harvesting and high-temperature IoT.

TreaTech

Grant in 2020
TreaTech is a Swiss cleantech company established in 2015 by engineers from the École Polytechnique Fédérale de Lausanne (EPFL). The company specializes in developing catalytic hydrothermal gasification (cHTG) technology that offers an innovative approach to wastewater treatment. This thermochemical process effectively transforms various types of liquid waste, including sewage sludge, into valuable by-products such as renewable gas, clean water, and mineral salts. TreaTech's solutions focus on eco-friendly waste disposal, aligning with sustainable development and circular economy principles. By recycling wastewater and its by-products, TreaTech enables clients to manage waste more sustainably while generating resources like fertilizers and biogas.

Transmetrics

Grant in 2019
Transmetrics is a software-as-a-service artificial intelligence-powered logistics platform for cargo companies. The platform provides data cleansing, demand forecasting and network optimization using machine learning and predictive analytics to improve operational efficiency, reduce transport costs, and enhance fleet utilization while maintaining service levels. It combines AI with domain expertise in transport and logistics to analyze and predict transport flows with high accuracy, helping logistics providers optimize planning and reduce environmental impact.

Bloom Biorenewables

Grant in 2019
Bloom Biorenewables Ltd is a Swiss company established in 2019, specializing in the development of innovative technologies that convert wood and agricultural waste into renewable materials as substitutes for petroleum-based products. The company focuses on producing bio-based materials for various sectors, including fragrances, plastics, and textiles, thereby offering sustainable alternatives to fossil fuels. By introducing a novel approach to the production of biorenewable products and fuels, Bloom Biorenewables aims to make a significant impact in promoting the use of sustainable resources and addressing climate change challenges.

DroneHopper

Grant in 2019
DroneHopper is a Spanish engineering company that specializes in the design and manufacture of heavy-duty unmanned aerial systems (UAS) with industrial capabilities. Its flagship product, the WILD HOPPER, is an unmanned aircraft designed for firefighting and precision agriculture, capable of carrying a payload of up to 600 kg and offering three hours of operational autonomy. The WILD HOPPER features a container unit that holds liquids, enabling it to nebulize and direct these liquids toward targeted areas, which is particularly useful in wildfire suppression while minimizing risk to human pilots. In addition to firefighting, DroneHopper's technology also supports logistics solutions, enhancing efficiency in various agricultural applications.

Epishine

Grant in 2019
Epishine AB, founded in 2016 and based in Linköping, Sweden, specializes in the development and manufacture of solar cells designed to harness indoor light for powering low-energy devices. The company's products include a portable energy device with an exchangeable solar sheet and a charging unit equipped with USB ports, capable of powering lights and charging mobile phones. Epishine's technology utilizes organic materials and is optimized for functionality in low-light environments, providing an eco-friendly alternative to disposable batteries.

Minesto

Grant in 2019
Minesto is a Sweden-based developer of marine energy technology that commercializes the Deep Green system to generate electricity from slow tidal and ocean currents using a turbine-driven platform. Founded in 2007 by Magnus Landberg, it is headquartered in Gothenburg and operates projects in Sweden, Wales, and Northern Ireland.

AEInnova

Grant in 2019
AEInnova develops autonomous industrial monitoring devices for predictive maintenance. Its flagship device InduEye is battery-free, self-powered, and capable of edge computing for real-time vibration, thermal, and steam-trap monitoring, powered by waste heat with optional solar or wind energy. It uses LoRaWAN or NB-IoT/LTE-CAT M for communications and streams data to cloud dashboards with analytics, alarms, and environmental impact analysis. The system aims to reduce downtime and maintenance costs through non-invasive, self-sustaining monitoring. Certifications include CE and ATEX/IECEX, with FCC ongoing. The technology is deployed across sectors such as oil and gas, aluminium, steel, paper, rubber, water treatment, and energy, with customers including Repsol, Cepsa, ArcelorMittal, Enel, and others. AEInnova has been recognized as a leading EU scale-up with multiple awards and EC funding, and participates in EU R&D initiatives related to energy harvesting and high-temperature IoT.

Lightricity

Grant in 2019
Lightricity’s mission is to enable a scalable and sustainable IoT by providing the world’s highest efficiency light energy harvesting technology and battery free IoT devices. Lightricity has unique indoor PV technology that is up to 6 x more efficient than the nearest commercially available competition under low light levels. This is available as PV component technology that enables powering of devices not previously possible or the reduction of the area of PV used on very small wireless devices. It is also available in our own battery free PV powered IoT tracker and sensor devices. Our technology enables IoT to really scale efficiently.

Green City Solutions

Grant in 2018
Green City Solutions GmbH, founded in 2014 and headquartered in Berlin, Germany, specializes in innovative waste management solutions aimed at combating air pollution. The company has developed a unique product called the "CityTree," which employs a specially designed, vertically installed moss culture to absorb particulate matter, nitrogen dioxide, and ozone. This system not only purifies the air but also enhances environmental conditions through cooling and humidification. Integrated with Internet-of-Things (IoT) technology, the CityTree features sensors that gather environmental and climatic data to monitor and optimize the health and performance of the plants. This data can further contribute to a more comprehensive understanding of environmental conditions, addressing the pressing issue of air quality in urban areas.

ThrustMe

Grant in 2018
ThrustMe is a startup that originated from the Laboratoire de Physique des Plasmas at the Ecole Polytechnique and the CNRS, founded by Ane Aanesland and Dmytro Rafalskyi. The company specializes in the development, production, and commercialization of advanced space propulsion systems utilizing patented technology. ThrustMe focuses on creating electric propulsion systems that are simpler and more efficient, catering to the needs of next-generation satellites. In addition to propulsion systems, the company also provides tailored solutions for ground testing of space hardware, offering economic and environmentally sustainable options for space teams and aerospace businesses.

Quaternium

Grant in 2018
Quaternium is the leader company for hybrid multirotor drones for commercial applications. This company became the first to develop a hybrid fuel-electric drone, in 2014, and set the World Record of Endurance with a flight of 8 hours and 10 minutes.

AEInnova

Grant in 2018
AEInnova develops autonomous industrial monitoring devices for predictive maintenance. Its flagship device InduEye is battery-free, self-powered, and capable of edge computing for real-time vibration, thermal, and steam-trap monitoring, powered by waste heat with optional solar or wind energy. It uses LoRaWAN or NB-IoT/LTE-CAT M for communications and streams data to cloud dashboards with analytics, alarms, and environmental impact analysis. The system aims to reduce downtime and maintenance costs through non-invasive, self-sustaining monitoring. Certifications include CE and ATEX/IECEX, with FCC ongoing. The technology is deployed across sectors such as oil and gas, aluminium, steel, paper, rubber, water treatment, and energy, with customers including Repsol, Cepsa, ArcelorMittal, Enel, and others. AEInnova has been recognized as a leading EU scale-up with multiple awards and EC funding, and participates in EU R&D initiatives related to energy harvesting and high-temperature IoT.

Resolute Marine Energy

Grant in 2017
Founded in 2007, Resolute Marine Energy develops wave energy converters that generate clean electricity from ocean waves. The company also uses this technology to transport seawater for on-shore desalination facilities, producing drinkable water alongside power.

Norsepower

Venture Round in 2016
Norsepower Oy Ltd, founded in 2012 and based in Helsinki, Finland, is a clean technology and engineering company specializing in generating renewable wind energy for the global maritime industry. The company offers auxiliary wind propulsion systems that are low-maintenance, software-operated, and data-verified. Their flagship product, the rotor sail solution, utilizes the magnus effect to harness wind power and propel ships, thereby reducing fuel consumption and greenhouse gas emissions.

TransfoElectric

Grant in 2014
TransfoElectric is a high-tech startup based in Riga, Latvia that develops wireless power transfer technology. Their focus is on providing novel wireless energy transfer methods, including home chargers, public charging stations, and receiver modules for electric vehicles.
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