AlgaEnergy is one of the 155 selected SMEs for funding, out of the 2,662 entries from all countries participating in the Horizon 2020. The instrument aims to help small and medium enterprises to scale innovative projects from lab to market.
Máire Geoghegan-Quinn, European Commissioner for Research Innovation and Science, said: "Innovative SMEs will help get the European economy back on track, creating lasting employment and great products and services. This new instrument is aimed at projects that are truly innovative, with a strong business opportunity and a solid concept to bring them to the market."
The European Commission has today published a list of the 155 small and medium-sized enterprises that will be first to benefit from its new €3 billion SME instrument. 155 SMEs from 21 countries will each receive €50,000 to finance feasibility studies for their projects. After that, therir projects may be considered for further financial support from the Commission worth up to €2.5 million.