Maltese-Dutch start-up FLASC B.V. has been chosen for a prestigious grant below the European Innovation Council (EIC) Accelerator with their Offshore Vitality Storage Resolution.
The goal of the fund is to assist deep tech breakthrough expertise start-ups in Europe. In complete, 42 corporations has been chosen to obtain EIC funding, combining grants and fairness, following the ultimate 2023 EIC Accelerator cut-off in November. The businesses had been chosen in a extremely aggressive course of, during which 242 corporations had been interviewed by juries of skilled buyers and entrepreneurs out of a complete of 1083 full proposals submitted.
FLASCÂ HPES (Hydro-Pneumatic Vitality Storage) is a proprietary offshore power storage answer, designed particularly for offshore functions. The answer is appropriate for Backside-Mounted & Floating Purposes. FLASC could be deployed in a variety of configurations.
The 42 chosen corporations will collectively obtain as much as €285 million in funding. A big majority of chosen corporations (62%) will obtain the blended finance choice, which is a mixture of grants and fairness investments. The fairness investments can be made by means of the EIC Fund because the devoted funding fund for EIC Accelerator corporations, and which attracts different buyers to extend the general funding to over 3 times the EIC funding on common. The chosen corporations have a geographical unfold spanning 15 international locations, together with three widening international locations. Supply: European Innovation Council
