EU awards funds to 74 companies including Kvasir Technologies

In Belgium, the European Commission selected 74 innovative companies under the first 2022 EIC Accelerator cut-off. They are set to receive up to €382 million of funding in a combination of grants and investments. The companies were selected from over 1000 start-ups and SMEs that submitted a full application for funding for the 23 March 2022 cut-off, of which 266 were interviewed by juries of experienced investors and entrepreneurs. The selected companies will each receive grants and/or equity investments, depending on their needs, up to €17.5 million.

Kvasir Technologies is amongst the recipients who will receive grants for its novel biofuel platform using lignocellulosic oil for maritime transportation.