The selected startups emerged from a process in which 347 companies were interviewed by juries of investors and entrepreneurs. A total of 969 startups applied for the EIC Accelerator. The 68 selected companies will receive a total of €411 million in grants and equity investments. The total is divided into €165 million for grants and an estimated €245 million for equity investments. The latter is based on the average size of investments made by the EIC Fund within the framework of Horizon Europe. The startups can therefore expect to receive just under €2.5 million in funding each. The equity investment will range from €0.5 million to €15 million.
The selected companies are geographically spread across 17 countries. 21 percent of the selected companies are led by women. Seven startups from Munich secured funding in this round: Dcubed, Kiutra, Marvel Fusion, Phlair (formerly Carbon Atlantis), Proxima Fusion, Tozero, and Turn2x.
Dcubed
The Munich Spacetech Dcubed develops and markets actuators, i.e., trigger mechanisms for deployable structures such as antennas or sails, for the commercial space industry and nanosatellites. The startup has also expanded into the field of 3D printing. In February 2025, Dcubed plans to demonstrate how the back structure of a solar module is 3D printed directly during deployment in orbit.
Kiutra
Kiutra develops fully automated cooling solutions for generating extremely low temperatures close to absolute zero at -273°C. The Munich-based company relies on a magnetic cooling process that is considered extremely user-friendly, low-maintenance, and scalable compared to conventional helium-based cooling methods. This enables the startup to operate quantum technologies on an industrial scale.
Marvel Fusion
The Munich startup Marvel Fusion is working on a laser-based fusion technology for energy generation. The startup's technology is intended to enable fusion reactions and energy generation to be triggered significantly more efficiently than current standards. To achieve this, the company relies on a special nanostructure of its fuel targets to precisely control the conversion of laser energy into fusion-relevant particles. This way, less energy would be required than before to heat the fuel plasma to the temperatures required for the fusion process.
Phlair
Phlair (formerly Carbon Atlantis) is developing an electrochemical direct air capture process for CO2. The captured gas is either permanently stored or used in carbon-neutral or carbon-negative products, such as in cement production or the chemical industry (Carbon Capture Use and Storage, CCUS). This makes the system cost-effective, modular, and scalable, according to the startup.
Proxima Fusion
With Proxima Fusion A second Munich-based fusion startup makes it onto the list. The spin-off from the Max Planck Institute for Plasma Physics (IPP) pursues the magnet-based fusion approach and works on the principle of optimized quasi-isodynamic (QI) stellarators and high-temperature superconductors. The startup utilizes the results of the Wendelstein 7-X (W7-X) experiment, the world's largest stellarator at the Max Planck Institute for Plasma Physics.
Tozero
Tozero Tozero aims to build Europe's leading lithium-ion battery recycling facility, with a focus on the sustainable recovery of critical materials such as lithium and graphite. By reintroducing these materials into the supply chain, the startup aims to support the production of new batteries and promote a circular economy. Last year, Tozero opened its pilot plant and has already celebrated its first commercial shipment of recycled lithium from battery waste.
Turn2x
Turn2x develops so-called RNG plants in which renewable natural gas (RNG) is produced from water and carbon dioxide. Electrolysis converts water into hydrogen, and then, with the addition of biogenic CO2, which is produced, for example, during the combustion of biomass, into methane, or biogas. Turn2x's modular RNG plants are designed to replace fossil fuels. The startup aims to avoid 23 million tons of CO2 by 2030.
Application deadlines for the EIC Accelerator
Startups can continue to present their ideas Apply to the EIC AcceleratorThey can submit their documents at any time, and they will then be evaluated within approximately four weeks. Those who meet the EIC criteria will be invited to submit a full application by one of the regular deadlines. The next deadline is October 3, 2024.
