EU grants 314M euro to innovative companies to combat virus, support recovery

Written by on June 8, 2020 in Europe - Comments Off on EU grants 314M euro to innovative companies to combat virus, support recovery

The European Commission said on June 8 that it had awarded close to 166 million euro, via the European Innovation Council (EIC) Accelerator Pilot, to 36 companies set to combat the coronavirus pandemic.

In addition, more than 148 million euro will be granted to a further 36 companies set to contribute to the recovery plan for Europe, bringing the total investment from Horizon 2020, the EU’s research and innovation programme, to 314 million euro in this round.

The European Commission said that the selected 36 companies that will contribute to the fight against the coronavirus will work on pioneering projects, such as on expanding the production of bio-decontamination wipes, developing ventilation monitoring systems that provide first aiders with real-time feedback on the quality of the ventilation given to the patient, developing an antibody platform to treat severe cases of infection, and many more.

An additional 36 companies, set to support the recovery plan for Europe, will work across a multitude of sectors and projects, which include for example the development of stronger and taller wind turbine towers made from wood modules, with the potential to massively reduce wind energy costs, an organic fertiliser production system, and a blockchain-based solution for sustainable recycling practices of manufacturers.

Furthermore, 818 companies that could not receive funding in this round due to budget limitations, have received the Seal of Excellence, in recognition of the value of their proposal and in order to help them attract support from other funding sources, the Commission said.

The list of companies selected for funding is available here.

(Photo via pxfuel.com)

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