1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups that are developing groundbreaking technologies and innovations. The program aims to enhance European leadership in deep tech and innovative sectors by addressing the funding gap often encountered by high-risk ventures. It provides a unique opportunity for innovative businesses to access a blend of grant funding and equity investment, facilitating their growth and expansion.

Funding Structure

The EIC Accelerator offers blended finance, which combines grant funding and equity investment. Specifically, it provides grants of up to €2.5 million to support the development of innovative projects. Additionally, it offers equity financing of up to €15 million until 2024, which has been reduced to a maximum of €10 million from 2025 onwards. This structure aims to minimize financial risk for startups while providing substantial funding to help scale their operations and market presence. The combination of grants and equity investment allows companies to leverage public funds alongside private investments, amplifying their financial backing and market potential.

Purpose and Impact

The EIC Accelerator plays a crucial role in the European deep tech and startup ecosystem. It targets high-impact innovations that address significant societal challenges, such as climate change, healthcare, and digital transformation. By providing financial support, the program encourages companies to take bold steps in their innovation journeys, thereby contributing to job creation, economic growth, and technological advancement in Europe.

In addition to financial support, the EIC Accelerator offers mentoring, business coaching, and access to a network of investors and industry experts. This comprehensive support system helps startups refine their business models, enhance their market strategies, and ultimately scale their operations effectively. By bridging the gap between early-stage innovations and commercial viability, the EIC Accelerator enhances the likelihood of success for participating companies.

Case Study: DENS BV and the DENS X4 Project

Company Overview
DENS BV, based in the Netherlands, is a pioneering company focused on developing innovative energy solutions. The company aims to contribute to a sustainable future by harnessing advanced technologies that enable zero-emission power generation.

Project Overview
The EIC Accelerator project submitted by DENS BV is known as DENS X4, which focuses on the development of a hydrozine generator for zero-emission power on demand. This innovative technology aims to revolutionize the energy sector by providing a clean, efficient, and scalable solution for energy generation.

Technology Basics and Background
The hydrozine generator represents a breakthrough in energy technology, utilizing hydrozine—a compound that can be used as a hydrogen carrier. This technology allows for the on-demand production of hydrogen, which can then be converted into electricity through fuel cells. The DENS X4 project aims to create a system that is not only efficient but also environmentally friendly, addressing the pressing need for zero-emission power solutions.

The underlying technology of the hydrozine generator involves chemical processes that convert hydrozine into hydrogen. This process is designed to be safe, efficient, and easily scalable, making it suitable for various applications, from transportation to stationary power generation. By leveraging the properties of hydrozine, DENS BV aims to facilitate a transition away from fossil fuels and towards a sustainable energy future.

The DENS X4 project was submitted as a Step 2 proposal on October 6, 2021, and subsequently gained approval during the Step 3 interview process. The project's success in securing funding under the EIC Accelerator not only underscores the viability of its innovative approach but also highlights the growing recognition of the importance of clean energy technologies in addressing global challenges.

In conclusion, the EIC Accelerator program serves as a vital catalyst for innovation in Europe, providing essential funding and support for groundbreaking projects like DENS X4. By fostering the development of sustainable technologies, the program contributes significantly to the advancement of the European deep tech ecosystem and the achievement of environmental goals.

2 The Funding Rounds

Financing Raised by DENS BV

Since the EIC Accelerator funding in October 2021, DENS BV, based in the Netherlands and specializing in sustainable energy solutions, has raised significant capital through multiple funding rounds.

• October 2021:
• DENS secured €2.1 million from the European Innovation Council (EIC) as part of the EIC Accelerator program.
• Simultaneously, Koolen Industries invested €9.7 million.
• Total Funding to Date: The cumulative disclosed funding is approximately €13.3 million since October 2021.

Funding Rounds

DENS's major recorded financing events occurred in October 2021:

Date	Investor	Amount	Round Type
Oct 2021	Koolen Industries	€9.7 million	Not specified
Oct 2021	European Innovation Council (EIC) Accelerator / EIC Fund	€2.1 million	Grant/Equity

</em>The EIC Fund may have also made an equity investment; however, its amount is not publicly disclosed.

No other major publicized rounds or investments have been reported after these events as of April 23, 2025.

Timing and Amounts of Funding Rounds

• All significant post-EIC funding was clustered around October 2021.
• No new large-scale fundraising activities or additional rounds have been publicly disclosed since then.

Investor Information

Key investors include:

• Koolen Industries: A Netherlands-based investor known for backing sustainable technology ventures.
• European Innovation Council (EIC) / EIC Fund: The official EU innovation instrument that offers both grants and equity investments to high-growth startups.

There are no other named institutional or venture investors reported in subsequent fundraising activity.

Additional Information Related to Funding Rounds

The combined support from both a private-sector leader (Koolen Industries) and a major public innovation funder (the EIC/EU Commission), underscores DENS’s profile as a high-potential clean-tech company with strong validation from both government and industry stakeholders.

Details on valuation at each round were not disclosed publicly; this is typical for early-stage private companies in Europe unless involved in very large Series A/B/C+ rounds or approaching IPO readiness stages.

Company Valuations

There are no available public disclosures regarding specific company valuations at any stage since receiving the EIC Accelerator award. This lack of information is common among Dutch scale-ups unless they prepare for late-stage financing or exit events.

Exit Events: IPOs, Buyouts, Acquisitions

As of April 23, 2025:

There has been no reportable Initial Public Offering (IPO), buyout event, merger/acquisition announcement involving DENS BV.

The company continues to operate privately focusing on scaling its emission-free power generation technologies without any announced exit transactions.

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Sources

• DENS company information, funding & investors — Madrid Startup Ecosystem
• DENS company information — Dealroom.co
• Sustainable Energy Solutions and Power Generators — dens.one

3 The Press Releases

DENS BV, a Dutch company and winner of the EIC Accelerator funding in October 2021, has been actively advancing its technology and business since securing this support. Their focus lies on clean energy solutions, particularly involving their patented Hydrozine technology—a safe and efficient liquid organic hydrogen carrier (LOHC) that facilitates hydrogen storage, transport, and on-site energy generation.

Technology Advancements

• Hydrozine Technology Commercialization: DENS has successfully raised millions of euros from investors including Koolen Industries and Rabobank to commercialize their Hydrozine technology. This innovation enables carbon-neutral refueling or charging of hydrogen fuel cell vehicles and electric machinery even in remote or electricity-grid-challenged locations such as farms, mining sites, construction zones, or congested urban areas.
• Hydrogen Storage & Transport Efficiency: Hydrozine contains 53 kg of hydrogen per 1,000 liters at atmospheric pressure—offering significantly higher energy density compared to compressed gaseous hydrogen at 700 bar. It is both safer and more cost-effective to transport than traditional methods.

Partnerships

• DENS collaborates with major infrastructure and construction companies such as Heijmans and TBI who have started replacing diesel generators with DENS's Hydrozine-powered generators for onsite charging of electrified vehicles.
• Rental companies like F&L Powerrental and Fulltank provide short-term access to the Hydrozine aggregates enabling pilot projects that help customers gain hands-on experience with the technology.
• The company also works closely with MCM specialists on improving their production line for faster assembly of modular sub-systems used in their products. This project aims at streamlining manufacturing processes through modularization combined with automation elements like robotic arms for material handling. This collaboration is co-financed by the European Union as part of efforts to scale up production capacity efficiently by end 2024.

Team Updates

While specific personnel changes are not detailed on dens.one/news/, related press updates show DENS’s commitment to innovation through ongoing team expertise development aligned with scaling operations.

Press Releases & Blog Posts Highlights from dens.one

DENS publishes regular news updates focusing largely on:

• Sustainable energy solutions tailored specifically for heavy industries such as construction.
• Progress in scaling up production capabilities.
• Demonstrations of how clients implement DENS technologies onsite.

Their official news section consistently emphasizes sustainability impacts alongside technical progress without frequent formal press release formats; they prefer storytelling via blog-post style updates enhancing transparency about ongoing projects.

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In summary, since winning EIC Accelerator funding in October 2021, DENS BV from the Netherlands has made significant strides commercializing its innovative LOHC Hydrozine technology supported by strategic partnerships in heavy industry sectors. They continue expanding technologically while optimizing manufacturing processes collaboratively under EU co-financing schemes aiming for greater market readiness by late 2024.

Sources

• Latest news - dens.one
• DENS raises millions for Hydrozine commercialization
• Building Tomorrow: DENS Innovates production line

4 The Technology Advancements

DENS BV: Post-EIC Accelerator Funding Progress and Capabilities

Since securing EIC Accelerator funding in October 2021, Dutch energy innovator DENS BV has significantly advanced its Hydrozine-based power solutions and battery systems, focusing on scalability and market adoption. Below is a detailed overview of their progress:

Core Capabilities

DENS specializes in emission-free power generation through two primary technologies:

• Hydrozine Generators: Convert liquid hydrogen carrier Hydrozine into electricity using patented dehydrogenation technology.
• Battery Systems: Modular, high-safety designs with compartmentalized architecture (145 kWh units) featuring integrated fire suppression.

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Post-Funding Advancements (2021–2024)

#### 1. Technology Improvements

• Gridhub Deployment: Installed a stationary battery system in Helmond (May 2024) to support grid stability.
• Integrated Powertrains: Expanded product portfolio to include battery-powered drivetrains for heavy machinery (February 2024).
• Safety Enhancements: Refined battery compartment sensors to prevent thermal runaway risks.

2. Market Demonstrations

• Customer Adoption: Heijmans and TBI replaced diesel generators with DENS units for construction-site electrification. Rental partners like F&L Powerrental offer short-term Hydrozine generator access.
• Mobile Battery Milestone: Delivered the world’s largest mobile battery system (2.32 MWh) in May 2023, followed by the 100th integrated battery unit for RELLY mini loaders by October 2024.

3. Intellectual Property & Research Outputs

While no new patents or peer-reviewed studies are explicitly mentioned post-EIC funding, their existing patents on Hydrozine dehydrogenation remain central to operations. Public disclosures emphasize real-world validation over academic publishing, aligning with their focus on industrial decarbonization partnerships.

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Strategic Positioning

DENS positions itself as a cross-sector enabler for off-grid electrification, targeting industries like mining, agriculture, and construction through scalable solutions that avoid grid dependency. Their dual focus on hydrogen carriers and batteries ensures applicability across sub-30-ton electric machinery and heavier hydrogen-compatible equipment[^(§7)][^(§5)].

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Sources Used:
DENS Raises Millions to Commercialize Hydrozine Technology · Milestones Timeline · EIC Accelerator Winner List · Battery Safety Innovations

5 The Partnerships and Customers

DENS BV: Partnerships and Customers Since EIC Accelerator Funding

DENS BV, a Dutch company that specializes in sustainable energy solutions, has been actively involved in various partnerships and customer engagements since receiving the EIC Accelerator funding in October 2021. The company's focus on innovative battery systems and emission-free Hydrozine power generators has positioned it as a key player in the transition to sustainable energy.

Partnerships and Collaborations

Customers and Applications

DENS's sustainable energy solutions cater to various industries, including:

New Partnerships and Customers

While specific details about new partners or customers since the EIC funding are not explicitly mentioned, DENS's ongoing collaborations indicate a strong focus on expanding its network and market presence. The partnerships with MCM and Tolsma highlight the company's efforts to enhance its technology and scalability.

Market Positioning and Technology Advancements

DENS's partnerships and customer relationships are crucial for its market positioning and technology advancements:

• Market Positioning: These collaborations and customer engagements help DENS maintain its competitive edge in the sustainable energy sector by offering innovative solutions that appeal to diverse industries.
• Technology Advancements: Collaborations like those with MCM and Tolsma are pivotal for scaling up hydrozine technology, making it more efficient and viable for widespread adoption. This not only supports DENS's growth but also contributes to the broader shift towards renewable energy.
• Scaling: The partnerships and customer base enable DENS to scale its operations more effectively. By developing and refining their products through collaboration, DENS can better meet the demands of a rapidly evolving energy market.

Overall, DENS BV's strategic partnerships and diverse customer base are key factors in its success and its role in promoting sustainable energy solutions.

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Sources: - DENS

• Customer Service for Sustainable Energy Solutions
• Dens B.V. Company Profile
• Building Tomorrow: DENS Innovates production line

6 The Hiring and Company Growth

DENS BV, a Dutch company specializing in sustainable energy storage and emission-free power generation technologies, has demonstrated notable team growth and strategic hiring since receiving EIC Accelerator funding after submitting its Step 2 proposal on October 6, 2021.

Team Growth and Current Headcount

• DENS originated as a small student-led group of engineers and visionaries focused on clean energy innovation. Over the years, it has evolved into a significant player in the green energy sector with an expanding team dedicated to research, development, manufacturing, and support for their Hydrozine Generator and Powerhub battery systems.
• While exact current headcount figures are not publicly detailed in available sources, the company describes itself as rapidly growing with an emphasis on multidisciplinary teams that support advanced engineering efforts.

Hiring Activity

• DENS is actively hiring new team members. Current vacancies include key roles such as an IT Coordinator responsible for maintaining digital infrastructure alongside external IT partners — a position indicative of scaling operational capabilities to support company growth.
• The firm values creativity and innovation in its recruitment approach and offers opportunities both for professionals looking to contribute long-term as well as students aiming to grow within clean energy technology fields.

Key Positions Recently Hired or Open

Available information specifically highlights recruitment for technical positions like IT coordination but implies ongoing expansion across engineering disciplines given their focus on advanced product development (Hydrozine generators, modular Powerhub systems) which requires expertise in electrical/mechanical engineering and software integration.

Impact of New Team Members on Company Future

• The addition of new specialized staff such as IT coordinators helps DENS scale operationally by ensuring robust digital infrastructure—critical for supporting complex product design cycles, production scalability, remote monitoring capabilities of battery systems/power units, customer service platforms, etc.
• Expanding multidisciplinary teams aligns with DENS’s strategic goal to accelerate sustainable energy adoption by delivering high-tech products that are scalable (modular design), reliable (emission-free generators), versatile (mobile/stationary applications), thus helping them penetrate broader markets including construction sites, events management, grid congestion solutions among others.

Management or Founding Team Changes

There is no publicly available information indicating major changes or restructuring within senior management or founding leadership since receiving the EIC funding. The company's narrative suggests continuity from its original founding student-engineer roots toward mature commercialization while maintaining a high-tech innovative culture.

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In summary: Since receiving EIC Accelerator funding post October 2021 submission date,DENS BV has grown from a small pioneering group into a fast-expanding Dutch clean tech enterprise. They have increased headcount through targeted hires like IT coordinators essential for scaling digital operations supporting innovative green power products. This team growth underpins their ability to meet rising market demand sustainably while preserving core values centered around technological excellence. No major leadership changes are evident so far; instead they emphasize continuous talent acquisition aligned with future scalability goals.

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Sources: Dutch success story - DENS
Sustainable Energy Solutions | DENS
Vacancies | Join DENS

7 The Media Features and Publications

DENS BV: An Overview of Media Features, Publications, Podcasts, and Events

DENS BV, a Dutch company specializing in sustainable energy solutions, received funding from the EIC Accelerator in October 2021. Here is a detailed look at their media features, publications, podcasts, and event participations since then.

Media Features and Publications

Currently, there is limited information available on specific media features or publications that have named DENS BV. However, DENS BV's focus on sustainable energy solutions aligns with broader trends in renewable energy, which are frequently covered by media outlets such as DN Media Group and The Associated Press, though there are no direct references to DENS BV in these sources.

Podcasts and Interviews

No specific information is available on podcasts or interviews featuring the team of DENS BV. Given their expertise in sustainable energy, they might be relevant guests for podcasts focused on clean technology or innovation.

Conference and Fair Visits, Presentations or Participations

While there is no specific data on DENS BV's participation in conferences or fairs, companies in the renewable energy sector often engage with industry events to showcase their solutions and network with potential partners.

Involvement in Events

DENS BV's involvement in events would likely revolve around promoting sustainable energy solutions, possibly including participation in renewable energy conferences or workshops. However, detailed information on their specific event involvement is not readily available.

Company Overview

DENS BV is based in the Netherlands and focuses on sustainable energy solutions and power generators. Their website provides insights into their mission and products but lacks specific details about media coverage or event participation.

Sources: - DENS

• DENS Electric B.V.
• The Associated Press