The EIC Accelerator is one of three funding schemes devised by the European Commission’s European Innovation Council (EIC), funding individual companies to develop and scale up breakthrough innovations with high risk and high impact. From over 1000 startups and small and medium-sized enterprises (SME) that submitted a full application for funding for the 5 October 2022 cut-off, 78 innovative companies were finally selected as eligible for a grant. They are set to receive up to 470 million Euro of funding in a combination of grants and investments in total. Selected companies have a geographical spread spanning 17 countries.
IonKraft has been awarded a grant of 2.5 million Euro for its coating technology, enabling light, fully recyclable and reusable barrier plastic packaging. The funding is granted for technologies validated and demonstrated in a relevant environment. In addition to funding, IonKraft will receive tailor-made access to a wide range of Business Acceleration Services consisting of business coaching, business advice and networking opportunities.
“We were overjoyed to receive this funding! It presents us with the opportunity to significantly accelerate the commercialisation of our coatings, as we shift from the lab to industrial production”, says IonKraft’s Co-founder Dr. Montgomery Jaritz.
The coating system developed by IonKraft is able to replace multi-material systems for barrier coatings that make rigid plastic packaging non-recyclable or fluorination, which will be banned by the upcoming EU PFAS Restriction.
IonKraft’s coating system enables packaging manufacturers to apply high-performing barrier coatings on rigid mono-material plastic containers. This way light, fully recyclable and reusable barrier plastic packaging can be produced. The technology also enables the use of recyclate, bio-based and biodegradable materials in many industries.
IonKraft will use the grant to accelerate the commercialization of its coating machines. The company's next ambitions are developing and constructing a pilot coating machine for continuous production, integrating the pilot unit into a production line at a packaging manufacturer, and validating and approving the coating for various fields of application.
On the EIC:
The European Innovation Council (EIC) aims to identify and supporting breakthrough technologies and game-changing innovations with the potential to scale up internationally and become market leaders. It supports all stages of innovation, from research and development on the scientific underpinnings of breakthrough technologies to validation and demonstration of breakthrough technologies and innovations to meet real world needs, to the development and scaling up of startups and small and medium-sized enterprises (SMEs). Financial support is provided through three main funding schemes: the “EIC Pathfinder” for advanced research on breakthrough/game-changing technologies, the “EIC Transition” for transforming research results into innovation opportunities and the “EIC Accelerator” for individual companies to develop and scale up breakthrough innovations with high risk and high impact.
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