Trøn­de­lag com­pa­ny receives grant from EU

Seaweed Energy Solutions in Trondheim receives 1.6 million euros in support to strengthen the focus on kelp for food and feed. The Trøndelag company is one of eight Norwegian companies that receive a total of NOK 160 million in Christmas gift from the EU.

- With 1.6 million euros from the SMB instrument, we can demonstrate our technology on a large scale and not least increase our investment in the food market, says CEO Jon Funderud. - This is exactly what we need, and we are very pleased with the collaboration with Innovation Norway.

Seaweed Energy Solutions is a pioneer in seaweed cultivation. The company has since the beginning worked on developing innovative solutions for the entire value chain, from hatchery to finished product. Seaweed Energy Solutions focuses on the food industry and on the world's rapidly increasing need for healthy, sustainable biomass at a competitive price.

Impresses the minister

- I am impressed with Seaweed Energy Solutions, which has won in competition with the whole of Europe. These are important resources that help companies get their products out to a larger market. In the Government's strategy for research and innovation cooperation with the EU, one of the goals is that participation should contribute to increased innovation capacity and value creation. Even more companies should keep an eye out for the opportunities that lie in the EU's huge money bag, says Minister of Research and Higher Education Iselin Nybø.

The EU SMB instrument is part of Horizon 2020 and finances innovative companies that have solutions they want to test out on a European market, regardless of industry.

"Companies in this phase have a huge need for capital, more than we can offer through national schemes," says Pål Næss, entrepreneur in Innovation Norway. - By adopting the opportunities the EU and the EEA Agreement gives us, the companies will have important capital to grow further. We are proud of the companies, which we have worked with for a long time.

Translated from original article in Norwegian:

Horizon 2020
  • The world's largest research and innovation program. From 2021, Horizon 2020 is replaced by Horizon Europe
  • Norway participates in line with EU countries
  • The SMB instrument is part of Horizon 2020 with a budget of around NOK 30 billion. Since its establishment in 2014, Norwegian companies have taken home more than NOK 667 million.
  • The program targets innovative companies with international ambitions, and finances groundbreaking, market-driven projects in all industries.
  • Phase 1, up to EUR 50,000, goes to market evaluation
  • Phase 2, of 1 or 2.5 million euros, goes for implementation and testing
  • Fast track to innovation has a budget of around NOK 5 billion. The program is aimed at industrial-driven and cross-sectoral collaborative projects with 3-5 partners from 3 countries. The project (up to 3 million euros) goes for piloting, testing and validation
  • Companies that receive funding from the SMB instrument and Fast track to innovation also receive coaches, mentors, invitations to meetings with European investors and company visits to major European customers and partners.