Participated · Grant · Jun 2026

DEScycle develops a distributed, modular metals recovery platform that uses proprietary ionometallurgy and eco-friendly deep eutectic solvents to extract critical and precious metals from underutilised waste streams, starting with electronic waste. The company positions its modular units as lower-capex, lower-energy alternatives to traditional smelting, enabling metals recovery closer to waste generation and faster returns on capital. DEScycle is progressing construction of a demo plant in Teesside with a planned launch in H2 2026 and intends to operate the demo longer to generate data and refine designs. It has secured strategic and commercial validation from partners including Mitsubishi, GAP Group and Cisco, with GAP and Cisco confirmed for customer trials in 2026. Financially, DEScycle has combined more than €10M in competitive non-dilutive grants from EU Horizon, SPRIND, the EIC Accelerator, Innovate UK and UKRI, and raised a €12.2M Series A in November 2024. The company is also working on digital product passports to provide traceability and provenance for recovered metals as it moves toward industrial validation and commercial scale-up.

Led · Equity · May 2026

BioCirc Group operates a biogas facility in Vesthimmerland and develops solutions to produce renewable energy and green fuels. The company received a €40 million grant from the EU's Innovationsfond to advance its RECLAIM project, which couples biogas production with renewable energy and green fuel (including methanol) production. Plans include expanding the existing plant and creating a broader local energy cluster focused on climate-friendly production. BioCirc says the initiative aims to reduce CO2 emissions and make energy supply less dependent on fossil fuels. The company is working on the project together with local stakeholders and municipal authorities, and local officials expect job creation and increased activity from the expansion.

Participated · Equity · Apr 2026

Biovac produces vaccines and is developing Africa’s first fully integrated multi-vaccine manufacturing facility in Cape Town. The company currently produces around 15 million vials per year and expects the new facility to roughly quadruple that output. Management says the expanded capacity will serve domestic needs more efficiently while directing much of the additional supply to export markets. The project is positioned to reduce Africa’s reliance on imported vaccines and to bolster preparedness for future pandemics. The build-out is expected to create over 340 skilled jobs and about 7,000 indirect employment opportunities as operations expand. Funding for the expansion is being raised from development financiers including the EIB, IFC and the European Commission.

Led · Grant · Apr 2026

HVR Energy develops and deploys modular hydrogen refuelling infrastructure, pursuing expansion through its ACTIVA project. The company plans to install stations at existing service stations and offer them under an all-inclusive leasing model that requires no upfront investment from station operators. It has secured 12.75m in ICO financing and benefits from a 7.6m grant under the European Commission's CEF AFIF programme to support deployment. This funding will enable HVR Energy to develop 30 hydrogen stations awarded in the latest CEF AFIF call; it previously obtained a 7m loan last year for 20 stations. HVR Energy frames its growth as modular and scalable infrastructure aligned with EU climate and AFIR objectives and aimed at reducing barriers to hydrogen use in transport. The company's current financial backing is focused on accelerating station roll-out across Spain and the awarded European sites.

Led · Grant · Mar 2026

Founded in 2021 and based in Tibro, PaperShell produces a fossil-free composite material by rebuilding paper into load-bearing wood "sheet metal." The company says the material is 100% biogenic and fossil-carbon-free, reduces CO₂ by 99.4% (climate positive if circulated), and is NATO approved. PaperShell's pilot factory in Tibro has been in operation since 2023, houses three production lines and has produced more than 150,000 components to date. Its material is being used across construction, electronics, defence and transport sectors. The new flagship factory financed by the EU Innovation Fund grant is planned to start construction in 2027 and reach full operation by 2030 with an installed capacity of about 23,000 tonnes per year. Over the first ten years of the project the company expects the facility to avoid approximately 2.6 million tonnes of CO₂ emissions.