Co-funded by the
European Union
New entries in EIT InnoEnergy’s equity portfolio Q2 and Q3 2022
During the second and third quarter of the year, seven new innovative companies joined the EIT InnoEnergy equity Portfolio.
“Despite the uncertain context, we have continued investing and reinforcing our portfolios with seven new investments in the last months. Most of these investments are aligned with the three Industrial Value Chains that we are managing: the European Battery Alliance (EBA), European Green Hydrogen Acceleration Centre (EGHAC), and the European Solar Photovoltaic Industrial Alliance which together represent a market potential of 390billion per year by 2025. Because, our focus is not only investing in new companies but also, creating new markets through a strategy value chain approach ” said Elena Bou, Co-Founder and Innovation Director of EIT InnoEnergy.
Welcome Basquevolt, GravitHy, Norwegian Crystals, Avocargo, Silbat, Nevomo and Soof.
With these new entries, our storage, green hydrogen, solar and transportation and mobility portfolios have expanded, enabling us to reach new markets and customers with the companies we support.
More info about the newcomers in our different portfolios:
Energy storage
The safest and most competitive solid-state battery
A new generation of solid polymer composite and semi-solid electrolytes has resulted from a decade of research by Prof. Michel Armand, one of the fathers of modern lithium battery development. The research team led by Professor Armand has been able to improve the composite polymer electrolytes (technology he discovered in 1978) and solve the main solid-state battery challenges. This unique technology brings lithium batteries beyond the state of the art in cost, safety and energy density.
More info: https://basquevolt.com/
Long duration electricity storage in melting silicon
Silbat has developed a silicon battery that is set to transform the landscape of long duration stationary storage. The solution is based on the latent heat of metal-grade silicon and its back-conversion to electricity using thermophotovoltaics. According to MIT research, cost-effectively turning renewables into dispatchable electricity sources requires long duration storage with capital expenses of less than $20/kWh. Silbat’s battery can do it for less than $10/kWh.
More info: http://silbat.com/
Hydrogen
A sustainable iron and steel company
GravitHy plans to build, operate and own a modern low-CO2 iron plant in France. By using hydrogen to react with iron ore, the high CO2 emissions from traditional production methods can be avoided. The product is direct reduced iron (DRI) which can be used as feedstock for low-CO2 steel production or traded in the form of hot briquetted iron (HBI). GravitHy will decarbonise steel production, support the EU’s ambition of carbon neutrality and respond to a growing demand for low-CO2 steel products.
More info: https://www.gravithy.eu/
Solar
Ultra-low carbon monocrystalline silicon ingots, bricks and wafers for the PV value chain
Norwegian Crystals is located in Glomfjord in Northern Norway, a region with access to clean hydropower, glacier cooling water, and a skilled workforce with a rich tradition rooted in the solar industry. There has been monocrystalline silicon production in this town for the last 25 years.
They are specialize in manufacturing high-quality and cost-efficient monocrystalline silicon products, such as bricks, wafers, and ingots. Our products go downstream and serve as substrates for solar cells and together become solar modules. These modules are installed on rooftops or as part of a solar power facility all around the world.
More info: https://www.crystals.no/
Customer acquisition platform for solar panel installers and engineering companies
A new customer acquisition channel for engineering and installation companies specialised in developing solar photovoltaic projects. A platform connects property owners interested in receiving various offers for a photovoltaic installation with companies willing to develop and finance projects. Property owners are offered a virtual space where they can request and receive various proposals from professionals in the sector.
More info: https://www.soof.es/
Transport and mobility
Shared Electric Cargo Bikes
Free-floating e-cargo bike sharing for citizens as well as businesses. The service offers a way to transport goods, kids and/or groceries in a more sustainable and scalable manner, combining deep mobility know-how and operational excellence with a customer-centric approach.
More info: https://en.avocargo.one/
The future of transportation, from magrail to hyperloop
At Nevomo we are developing MagRail, a technology that enables a quick, phased implementation of hyperloop-inspired transportation technology within railroads’ systems. Our technology will enable the transportation of goods and people at double the average speed of a conventional railroad. We can upgrade existing railroad infrastructure to the speed of 550 kph (340 mph) at a very competitive cost. MagRail, based on magnetic levitation, linear motor, and autonomous control systems, can be subsequently transformed into a vacuum version called the hyperloop.
More info: https://www.nevomo.tech/en/
If you are interested to meet these innovative companies and 150 more in person, don’t miss the opportunity to come to our flagship event, The Business Booster 2023 which will take place in Amsterdam, Netherlands 18 – 19 October. The event will see investors, start-ups, major companies, and policymakers gather for a series of discussions on the most pressing industry issues, while showcasing 150+ innovative companies from EIT InnoEnergy’s portfolio. Register here to take advantage of our promotions.
