The EIC Accelerator awards grants of up to 2.5 million euros, alongside equity investments, to deep-tech start-ups and small companies in a highly competitive process. ecop was selected to receive the full 2.5 million euros in grant funding, as well as up to 6 million euros in equity investment, to scale the production of its novel rotation heat pump.
ecop’s heat pump solution allows factories and local and district heating systems to efficiently recover and reuse their waste heat, with direct output temperatures up to 200°C that are suitable for many industrial processes. The design is based on a unique rotating system that uses a 100 percent climate friendly, non-toxic and non-flammable working medium and can change speed to accommodate different heat source temperatures, enabling a high degree of flexibility in the operation. In turn, industrial producers and municipalities can dramatically reduce their use of natural gas and other fossil fuels to produce heat, saving up to 2500 tons of CO2 per year with each heat pump system.
The EIC Accelerator has recognised the decarbonisation potential of this technology, selecting ecop from a pool of 969 applicants to receive funding. 347 companies moved forward to the jury interview phase, and 68 were chosen for the final funding round. A total of 411 million euros in funding was made available, split between 165 million euros in grants and 245 million euros in equity. The equity funding will be distributed through the EIC Fund, the European Innovation Council’s investment arm.
“The EU’s innovation ecosystem has been an integral source of support as ecop has developed our technology and our business” said Fabian Sacharowitz, CEO of ecop. “This funding will enable us to finalise the development of our new rotor design and take the next step in scaling up, making our heat pump solution more broadly available, and ultimately enabling more companies and municipalities to generate affordable and CO2 free heat to sustainably power their operations.”
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