1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council, is a vital initiative designed to support small and medium-sized enterprises (SMEs) and startups with high potential for innovation. It aims to foster the growth of deep tech and innovative solutions that can contribute significantly to the European economy and society. The program offers financial support through a combination of grants and equity investments, ensuring companies receive the capital necessary to scale their operations effectively.

Under the EIC Accelerator, companies can receive up to €2.5 million in grant funding aimed at covering the costs associated with scaling their innovations, such as research and development, prototyping, and testing. This non-repayable grant is particularly beneficial for startups that require substantial investment before becoming revenue-generating. In addition to the grant, the EIC Accelerator also offers equity financing, which has evolved over time. Initially, companies could access up to €15 million in equity funding until 2024, but this amount has been adjusted to a maximum of €10 million starting in 2025. This blended finance approach allows startups to leverage both non-dilutive grants and equity investments, thus attracting additional private sector funding.

The purpose of the EIC Accelerator in the European deep tech and startup ecosystem is multifaceted. It not only provides financial resources but also helps companies navigate the often complex landscape of innovation and commercialization. By offering expert coaching, mentoring, and access to networks, the program enhances the ability of startups to attract further investments from private sectors. This holistic approach increases the chances of success for emerging technologies, particularly those aimed at addressing pressing societal challenges such as climate change, energy transition, and sustainable development.

An exemplary winner of the EIC Accelerator program is BUILD TO ZERO ENERGY SOCIEDAD LIMITADA, a Spanish company recognized for its innovative project, ThermalBox. This initiative focuses on developing a Power-to-Heat Long Duration Energy Storage system designed to decarbonize industrial thermal processes. The project was submitted as a Step 2 proposal on March 13, 2024, and the company successfully advanced to a Step 3 interview, leading to its victory in the competitive selection process.

ThermalBox represents a significant advancement in energy storage technology, addressing the critical need for sustainable solutions in industrial settings. Traditional energy storage methods often fall short in terms of efficiency, scalability, and environmental impact. ThermalBox leverages a novel approach by converting excess renewable energy into thermal energy, which can be stored for extended periods and utilized when needed. This technology not only enhances energy efficiency but also contributes to reducing greenhouse gas emissions associated with industrial processes.

The underlying technology of ThermalBox involves a sophisticated system that captures and stores heat generated from renewable sources, such as solar or wind energy. This thermal energy can then be released on-demand to power industrial heating processes, which are essential for various applications, including manufacturing and food processing. By enabling industries to utilize cleaner energy alternatives, ThermalBox plays a pivotal role in the transition towards a more sustainable and low-carbon economy.

In summary, the EIC Accelerator program is instrumental in nurturing innovative companies like BUILD TO ZERO ENERGY and their groundbreaking projects such as ThermalBox. Through its blended finance model, the program empowers startups to scale effectively and secure additional funding, ultimately driving technological advancements that can significantly impact the European and global landscape.

2 The Funding Rounds

Financing Raised and Funding Rounds

BUILD TO ZERO ENERGY SOCIEDAD LIMITADA, based in Spain, secured EIC Accelerator funding following the March 13, 2024 cut-off. The EIC Accelerator March 2024 results show a total of €411 million was distributed among 68 companies across Europe, with average ticket sizes as follows:

• Average ticket size per company: €6.04 million
• Average grant component: €2.46 million
• Average equity component: €3.71 million

The vast majority of winners (over 95%) received blended finance—a mix of both grant and equity investments—while only a small fraction received grant-only or equity-only support. BUILD TO ZERO ENERGY SL was among these selected companies; therefore, it is highly likely their financing package followed this blended structure.

Timing and Amounts

• Funding Round: March 2024 EIC Accelerator call.
• Results Announcement: July 15, 2024.
• Likely Total Awarded to Company: Between €2–7 million (based on averages; actual figures for individual companies are not publicly disclosed but typically fall within this range).
• Grant portion likely up to €2.5 million (as per program cap)
• Equity portion generally between approximately €2–5+ million

Investor Information

The primary investor in this round is the European Innovation Council Fund (EIC Fund), which manages both the grant awards and direct equity investments under the EIC Accelerator program.

No information about additional private investors or co-investors has been published specifically regarding BUILD TO ZERO ENERGY SL since their EIC award.

Company Valuation

Direct post-money valuation data for BUILD TO ZERO ENERGY SL following their EIC investment is not publicly available. However, given standard practices in European deep-tech funding rounds:

• Companies receiving multi-million euro investments from public innovation funds often see implied valuations at several multiples above the capital raised.
• For context: recent venture markets have experienced growth in round sizes and valuations through late-stage VC and growth rounds during this period.

Exit Events

There are no reports or announcements indicating that BUILD TO ZERO ENERGY SL has undergone any exit events such as an IPO, buyout, or acquisition since receiving EIC Accelerator funding as of May 6th, 2025.

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Summary Table

Aspect	Details
Funding Type	Blended finance (grant + equity)
Likely Amount	~€6M total (€2–2.5M grant + ~€3–4M equity typical for cohort)
Date Announced	July 15th, 2024
Key Investor	European Innovation Council Fund
Valuation	Not disclosed; inferred to be higher than amount invested
Exit Events	None reported since funding

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Sources

• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
• Latest EIC Accelerator Results - Rasph
• EIC Accelerator: Statistics and Results from the March 2024 call
• EIC Accelerator - European Innovation Council

3 The Press Releases

BUILD TO ZERO ENERGY SOCIEDAD LIMITADA: Insights Post EIC Accelerator Funding

Overview

BUILD TO ZERO ENERGY SOCIEDAD LIMITADA is a Spanish company that was awarded funding through the European Innovation Council (EIC) Accelerator program in March 2024. This prestigious award signifies a significant achievement for the company, highlighting its innovative approach and potential impact in the energy sector.

EIC Accelerator Funding

The company submitted its proposal for the EIC Accelerator in March 2024, which was part of a highly competitive process involving 969 submissions. Only 347 proposals advanced to the interview phase, with 68 companies ultimately receiving funding. BUILD TO ZERO ENERGY SOCIEDAD LIMITADA's success demonstrates its commitment to innovative energy solutions.

Technology and Mission

While specific details about BUILD TO ZERO ENERGY SOCIEDAD LIMITADA's technology advancements or mission are not readily available from the provided sources, its participation in the EIC Accelerator suggests a focus on cutting-edge energy-related technologies. The EIC Accelerator supports projects that contribute to strategic European priorities, including renewable energy resources and decarbonization technologies.

Partnerships and Team Updates

Information about specific partnerships, team updates, or patents related to BUILD TO ZERO ENERGY SOCIEDAD LIMITADA could not be found in the available sources. However, the company's involvement with the EIC Accelerator typically involves collaboration with other European innovators and access to a network of experts and investors.

Press Releases and Social Media

There are no specific details available about press releases or updates on the company's website or social media accounts related to partnerships, technology advancements, team updates, or patents.

Conclusion

BUILD TO ZERO ENERGY SOCIEDAD LIMITADA's achievement in securing EIC Accelerator funding underscores its position as a promising innovator in the energy sector. While detailed information about its specific projects or partnerships is limited, the company's success is a testament to its innovative potential and contribution to European energy goals.

Sources:

• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
• EIC Accelerator: Statistics and Results from the March 2024 call
• Latest EIC Accelerator Results

4 The Technology Advancements

Build to Zero Energy Sociedad Limitada: Post-EIC Accelerator Funding Status

Current Capabilities
Build to Zero Energy specializes in decarbonizing industrial heat through its ThermalBox® technology, which combines electrification with long-duration thermal energy storage (LDES). The system delivers 24/7 emission-free heat below 400°C using molten salt-based storage, adaptable to various industrial processes. Their team has deployed over 17 GWh of thermal energy storage systems globally, leveraging expertise from concentrated solar power (CSP) projects.

Post-Funding Advancements (March 2024 Onward)
While the March 2024 EIC Accelerator results were published on July 15, 2024, explicit updates about Build to Zero's post-funding progress are not yet publicly documented. However, their website emphasizes ongoing efforts in:

• Modular system scalability: Adapting ThermalBox® for diverse industrial applications.
• Electrification integration: Enhancing compatibility with renewable energy sources like solar and wind to counteract grid variability.
• Digital control systems: Optimizing energy management for peak shaving and demand response.

Market Demonstrations and Pilots
The company highlights its participation in industrial decarbonization projects across five continents, though specific customer pilots or demonstrators post-March 2024 remain undisclosed. Their involvement in the EU-funded project ISSDEMO suggests active collaboration on LDES deployment, though details are limited.

Intellectual Property and Publications
Build to Zero references "patented thermal energy storage solutions" but does not list new filings since March 2024. No recent whitepapers or scientific studies explicitly linked to their EIC funding are publicly available as of July 2024.

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Sources

• Build to Zero - Technology
• Net-zero path 2050 and the role of energy storage
• About Build To Zero
• BUILD TO ZERO ENERGY S.L. | CETPartnership
• EIC Accelerator March 2024 Results

-offline results truncated due to length limitations

5 The Partnerships and Customers

BUILD TO ZERO ENERGY SOCIEDAD LIMITADA: Partnerships and Market Positioning

Since securing EIC Accelerator funding in March 2024, BUILD TO ZERO ENERGY SOCIEDAD LIMITADA (operating via buildtozero.es) has focused on expanding its decarbonization solutions for industrial heat through strategic collaborations. While specific customer names remain undisclosed, the company’s partnerships and operational framework highlight its market trajectory:

Key Partnerships

• Academic & R&D Collaborations: Partnered with the University of Sevilla and European technology centers to advance thermal energy storage (TES) innovations, including high-temperature heat pumps and materials.
• Industry Associations: Active in the Long Duration Energy Storage (LDES) Council and Cleantech for Iberia coalition to shape sustainable energy policies.
• Investor Backing: Supported by AXON PARTNERS, a strategic investor contributing industry expertise.

New Relationships & Market Positioning

Though no explicit new partners or customers are named post-March 2024, BUILD TO ZERO’s existing network emphasizes scalability through modular TES systems like ThermalBox®, designed for industries requiring sub-400°C process heat. The company’s involvement in pan-European decarbonization initiatives positions it as a leader in bridging renewable electrification with industrial demand.

Technological Advancements & Scaling

• Storage Expertise: Leveraging 15+ years of experience deploying over 17 GWh of thermal storage globally to optimize system efficiency and cost competitiveness.
• Renewable Integration: ThermalBox® addresses solar variability by storing excess renewable energy, enabling industries to reduce reliance on fossil fuels during off-peak periods. Collaborative R&D efforts aim to enhance storage duration and temperature resilience.

The lack of recent customer announcements suggests ongoing project developments under confidentiality agreements typical for industrial clients. However, BUILD TO ZERO’s established partnerships with academic institutions and investors provide a foundation for scaling TES adoption across Europe’s manufacturing sector.

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Sources

• Build to Zero - Home
• About Build to Zero
• Partners - Build to Zero

6 The Hiring and Company Growth

Build to Zero Energy S.L. - A Decarbonization Leader in Spain

Overview and Current Status

Build to Zero Energy S.L., based in Spain, is a pioneering company focused on providing decarbonization solutions through advanced technologies like ThermalBoxⓇ. This technology is designed to deliver 24/7 emission-free industrial heat, enabling industries to substitute fossil fuels with renewable energy efficiently.

Current Team Size and Headcount

As of the latest available information, Build to Zero Energy S.L. operates with a team size of 11 to 50 employees. However, specific details regarding the exact headcount or recent changes in team size are not available.

Hiring and Team Growth

There is no explicit information available on whether the company is currently hiring. However, given their recent success in securing EIC Accelerator funding in March 2024, it is likely that they may be expanding their team to support the development and deployment of their technologies.

Growth and Funding

Winning the EIC Accelerator funding in March 2024 marked a significant milestone for Build to Zero Energy S.L., indicating substantial growth opportunities. This funding will likely support the company in scaling its decarbonization solutions and enhancing its market presence. However, specific metrics on growth since receiving the funding are not available.

Key Positions and Future Impact

While specific details about recent hires are not provided, the company's focus on technologists, engineers, and industry experts suggests that future hires will be crucial in driving innovation and implementing decarbonization solutions. New team members will play a pivotal role in helping the company scale by enhancing its technological capabilities and expanding its market reach.

Management and Founding Team Changes

There is no available information on major changes in the management or founding team of Build to Zero Energy S.L. since receiving the EIC Accelerator funding.

Future Prospects

The EIC Accelerator funding is expected to significantly boost Build to Zero Energy S.L.'s ability to contribute to global decarbonization efforts. By leveraging ThermalBoxⓇ technology, the company aims to transform industrial processes, making them more sustainable and efficient. This technological advancement and the company's strategic growth will be critical in supporting its mission to accelerate global decarbonization.

Sources

• Build to Zero
• Build to Zero — Consulting Organization

7 The Media Features and Publications

Overview of Build to Zero Energy S.L.

Company Background

Build to Zero Energy S.L., based in Seville, Spain, is a pioneering company specializing in decarbonization solutions for industrial processes. The company has gained significant recognition for its innovative ThermalBox® technology, which combines electrification with long-duration thermal energy storage to provide 24/7 emission-free industrial heat. This approach is crucial for integrating renewable energy sources efficiently and reducing industrial greenhouse gas emissions.

Media Features and Publications

While specific media features or publications directly naming Build to Zero Energy S.L. are not listed in the search results, the company's involvement in the Long Duration Energy Storage (LDES) Council highlights its role in promoting net-zero heat and thermal storage solutions. The LDES Council emphasizes the importance of long-duration energy storage in achieving global emissions reduction targets.

Content from Publications

Publications related to Build to Zero Energy S.L. typically focus on the company's mission to transform industrial heat production towards a carbon-neutral future. Their ThermalBox® technology is spotlighted as a game-changer for decarbonizing medium-low temperature process heat by offering a modular, adaptable, and cost-competitive solution.

Podcasts and Interviews

There is no specific information available about podcasts or interviews featuring the team of Build to Zero Energy S.L. However, the company's commitment to open innovation and collaboration suggests potential participation in industry-specific discussions and forums.

Conference and Fair Visits

While specific conference or fair visits are not detailed, Build to Zero Energy S.L.'s involvement in global initiatives like the LDES Council indicates active participation in industry events focused on clean energy transitions.

Involvement in Events

The company's engagement with the LDES Council and its mission to accelerate decarbonization through energy storage technologies suggest an active role in events related to climate change mitigation and renewable energy integration.

EIC Accelerator Funding

Build to Zero Energy S.L. successfully secured funding from the EIC Accelerator in March 2024. This recognition underscores the company's potential to significantly impact the decarbonization of industrial processes and contribute to achieving net-zero emission targets.

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Sources

• Build to Zero
• About - Build to Zero
• Mission - Build to Zero
• BUILD TO ZERO ENERGY S.L.
• BUILD TO ZERO SL. Company Profile
• Long Duration Energy Storage Council Grows Exponentially in 2022