CrayoNano receives €2.4 Million EURO in EU Horizon 2020 EIC Accelerator grant
Trondheim, Norway – CrayoNano has been chosen to receive a European Union Horizon 2020 Small and Medium sized Enterprises (SME) EIC Accelerator grant of €2.4 million
The jurors in the EIC Accelerator panel mentioned among other positive remarks on the project: “the innovation has a huge potential to revolutionize the market of UV-C LEDs, making both societal and environmental impacts”
“I am so proud of the CrayoNano team. EIC Accelerator’s evaluation of our technology platform was very thorough and winning its approval shows that we are on the right track and that the products we are developing will make a huge impact”, says CEO Jo Uthus at CrayoNano.
Chosen among 4,200 companies The EIC Accelerator is designed for small and medium-sized enterprises (SMES) with radically new ideas underpinned by a business plan for rolling out marketable innovation solutions and with ambitions to scale up. Selected companies receive funding and they get extra acceleration services to connect with investors, corporates and likeminded entrepreneurs.
CrayoNano was selected FROM 4,200 companies for the EU Horizon 2020 program EIC Accelerator. Less than 1% of all applicants (39) received grants.
CrayoNano’s winning proposal is titled “The first nanowire-on-graphene UV-C LED technology able to give the efficiency, lifetime, and cost needed for mass deployment disinfection. The project presented to EIC Accelerator represents the core of the CrayoNano technology. Through this grant the company will get access to a wide network that will enhance the commercialization and benchmarking of this groundbreaking technology.
The company´s product portfolio is designed using breakthrough nanotechnology enabling a new UV-C LED chip to the market targeting a 10x price/performance over existing solutions – solving the fundamental material problems in current UV-C LED chips.
A USD 2 billion market Independent analysts categorize the UV-C LED market in hypergrowth, growing to an expected USD $2 billion market in 2024. Public awareness of disinfection caused by increased population density and pandemics drive the need for new cost-efficient disinfection solutions as an enabler for a healthier and safer future.
“The awareness of disinfection solutions has accelerated materially with the Covid-19 outbreak. The market potential is huge”, says Uthus.
Contact: CEO Jo Uthus of CrayoNano Mail: investor@crayonano.com Mobile: +47 473 80 634
About CrayoNano CrayoNano specializes in UV-C LED packaged chips for disinfection of surface, water and air based on a breakthrough, patented technology combining Graphene and nanostructures. The patented technology is the foundation to establish a new approach to semiconductors in Europe.
The company resides in Trondheim, Norway applying a fab-lite model with a global supply-chain and world-wide footprint. It is listed on the OTC in Oslo Norway under the ticker: CNANO.