EU Innovation Council invests €17.5 Million in Electrochaea’s Power-to-Methane technology

Electrochaea ́s power-to-gas technology receives funding from the European Innovation Council (EIC), confirming that their market-ready innovations make an important contribution to the goals of the European Green Deal and the UN agenda for sustainable development.
Based on biocatalysis, Electrochaea offers a multiple nationally and internationally patented key power-to-gas technology, which cost-effectively recycles CO2 and at the same time produces CO2-neutral methane from excess electrical energy that can be stored and used as required.

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In total, more than 2,000 European companies applied for the “EIC Accelerator” pilot program. Electrochaea is one of only 64 selected start-ups and medium-sized companies supported bythe Councilwith their projects. The EIC Accelerator program is part of the EU research and innovation program”Horizon2020″. It is aimed at entrepreneurs and SMEs that can apply for grants or mixed financing from grants and equity support. Since this year, around €300 million are available for submissions that promote the European Green Deal. Electrochaea fulfils this requirement in three ways: the long-term storage of renewable energy, production of biomethane, and reduction of the carbon footprint by using CO2 emitted by various industrial sources.

“We are proud to be one of the few selected funding recipients of the EIC. For us, this funding commitment is also a crucial strategic statement,” explains Dr. Doris Hafenbradl, CTO of Electrochaea. “In its rationale, the European Innovation Council confirms for the first time and in all clarity that Europe needs sustainable storage solutions for renewable energy sources and that green gas is indispensable for a sustainable, reliable and comprehensive energy supply”.

The EU funds will be used for the so-called scale-up, the development of the technology from existing pilot plants to commercially scaled plants. With the equity investment, Electrochaea will construct a fully operational 10 to 20 MW plant. The outcome is that customers will benefit: by scaling up and building a sample plant, the risk for commercial projects will be minimized and Electrochaea will be able to offer reliable and highly efficient standardized plants. “The additional financial resources will help us to apply the potential of biological methanation even faster on a commercial scale,” says Hafenbradl. “The European Innovation Council explicitly recognizes the expertise, diversity and motivation of our team as important factors in our success story in constructing industrial pilot plants and forming strategic partnerships with key players”.

Harald Beschid (COO), Doris Hafenbradl (CTO and Managing Director) and Birgit Lewandowski (Director Development) of Electrochaea are pleased about the investment of the European Innovation Council and consider it as a strong political signal. (© Electrochaea GmbH, 2020)


GreenCom secures investment by Centrica

Home Energy IoT provider Greencom Networks closes

fundraising round with Centrica Innovations

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GreenCom Networks has successfully closed a significant fundraising round led by international energy and service company Centrica. The current shareholders SET Ventures, Munich Venture Partners and Cosmos were also participating in this round. The funding will be used to finance a further international expansion of GreenCom’s Energy Internet of Things (IoT) platform in the European market.

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