1 The EIC Accelerator Project

The EIC Accelerator program is a pivotal initiative under the European Innovation Council (EIC), designed to foster innovation and scale-up high-impact deep-tech startups across Europe. It provides funding and support to innovative companies, particularly those in the deep-tech sector, which often face challenges in securing financing due to the high risk and long development cycles associated with their technologies.

Funding Structure of the EIC Accelerator

The EIC Accelerator combines grant funding and equity investment, commonly referred to as blended finance. The program offers grants of up to €2.5 million, aimed at supporting the early stages of innovation development, including research and prototyping. In addition to grants, the program provides equity financing of up to €15 million until 2024, which is designed to help companies scale their operations and commercialize their technologies. Since 2025, the equity component has been adjusted to a maximum of €10 million, reflecting a strategic shift towards more sustainable funding models.

Purpose and Impact on the European Ecosystem

The primary purpose of the EIC Accelerator is to bolster the European startup ecosystem by enabling innovative companies to overcome funding barriers and enhance their market competitiveness. By providing substantial financial resources and expert mentorship, the program plays a crucial role in helping startups navigate the complexities of scaling their businesses. It fosters collaboration between public and private sectors, encouraging private investors to co-finance projects by demonstrating the viability and potential of funded technologies.

Case Study: FYCH TECHNOLOGIES SL and the ReMLP Project

One notable winner of the EIC Accelerator is FYCH TECHNOLOGIES SL, a Spanish company that has developed an innovative project titled ReMLP, which stands for Recycling Multi-Layer Plastic. FYCH TECHNOLOGIES submitted their Step 2 proposal on March 13, 2024, and successfully progressed to the Step 3 interview, earning funding through the EIC Accelerator program.

Project Overview: ReMLP

The ReMLP project aims to address the growing environmental challenge posed by multi-layer plastics, which are notoriously difficult to recycle. The technology developed by FYCH TECHNOLOGIES focuses on creating a sustainable solution for the recycling of these plastics, significantly contributing to waste reduction and resource recovery.

Technology Basics and Background

Multi-layer plastics are widely used in packaging due to their barrier properties, which enhance the shelf life of products. However, their complex composition makes conventional recycling methods ineffective, leading to significant amounts of waste. FYCH TECHNOLOGIES has engineered a proprietary process that allows for the efficient separation and recycling of these materials. The technology hinges on advanced chemical recycling techniques that break down the plastic polymers into their fundamental components, enabling their reuse in new products.

The ReMLP project not only aims to mitigate environmental impact but also seeks to create a circular economy around plastic usage. By transforming waste into valuable resources, FYCH TECHNOLOGIES positions itself as a leader in sustainable innovation within the European market. The EIC Accelerator's support empowers the company to scale its operations and leverage private sector investments, ensuring the successful deployment of its recycling technology.

In summary, the EIC Accelerator program serves as a critical catalyst for innovation in the European deep-tech landscape, exemplified by the work of FYCH TECHNOLOGIES and its ReMLP project. Through its blended funding model and comprehensive support mechanisms, the program enhances the capacity of startups to navigate funding challenges, scale their solutions, and contribute significantly to sustainable development goals.

2 The Funding Rounds

Financing Raised by FYCH TECHNOLOGIES SL Since EIC Accelerator Funding

EIC Accelerator Grant (European Innovation Council)

• In August 2024, FYCH TECHNOLOGIES SL was selected among 68 companies to receive funding from the European Commission through the EIC Accelerator program.
• Amount awarded: €2 million.
• Purpose: The funds will be used to build a replicable demonstration plant showcasing their delamination, deodorization, and decontamination technologies for recycling plastics. This project aims to drive international expansion and strategic collaborations in sustainable plastic recycling.

EMPYME 2024 Program (Regional Grant)

• The company also received a grant under the EMPYME 2024 program.
• Amount awarded: €7,757.69.
• Funder: Department of Innovation, Industry, Commerce, and Tourism of the Valencian Community (Spain).
• Purpose: Industrial scale-up—strengthening production capacity and advancing industrial-scale validation of sustainable plastic recycling solutions.

Funding Rounds Summary

Date	Round/Program	Amount	Investor/Funding Body	Notes
Aug 2024	EIC Accelerator	€2 million	European Commission / European Innovation Council (EIC)	Major EU innovation grant
Early/Mid 2024	EMPYME 2024	€7,757.69	Dept. of Innovation (Valencian Community)	Regional industrial scale-up support

There is no public evidence in current records or company sources indicating any additional equity-based funding rounds such as Angel/Seed/Series A/B/C from private investors or venture capital firms since receiving the EIC funding.

Investor Information

The principal investors/funders identified:

• European Commission / European Innovation Council – major public innovation funder providing non-dilutive grants.
• Department of Innovation, Industry, Commerce & Tourism—Valencian Community – regional government body offering targeted SME growth support through direct grants.

No information is available about participation from private equity funds or venture capitalists in these specific rounds post-March 2024.

FYCH Technologies is also associated with Alicante Science Park according to several investor portfolio listings; however, there are no disclosed details about financial investment amounts or terms from this entity since March 13th, 2024.

Company Valuation

No official valuation figures have been publicly disclosed for FYCH TECHNOLOGIES SL following its receipt of EIC Accelerator financing. Companies at this stage that receive significant EU grants typically experience an increase in implied value due to project validation but exact post-money valuations are not published within available sources.

Exit Events

There have been no exit events reported: - No Initial Public Offering (IPO)

• No announced acquisition
• No buyout activity recorded up until May 6th, 2025

FYCH Technologies remains an independent Spanish SME focused on scaling its plastic recycling solutions with public grant support.

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Sources

Nuestros Proyectos - Fych Technologies Noticias - Fych Technologies Startups & scaleups - Capital Compass BC Startups & scaleups - Luxembourg Startup Ecosystem Alicante science park co-investors - Poland startup map Startups & scaleups - Portugal Startup Map

3 The Press Releases

Fych Technologies SL: EIC Accelerator Funding and Recent Developments Fych Technologies SL, a Spanish startup specializing in advanced plastic recycling technologies, secured European Innovation Council (EIC) Accelerator funding under the March 2024 call. The company was among 68 awardees selected for its innovation in multi-layer plastic recycling, receiving approximately €2 million to develop a replicable demonstration plant for its delamination, deodorization, and decontamination processes.

Key Details from Press Releases and Public Updates

• Technology Focus: Fych’s ReMLP technology targets the recycling of complex multi-layer plastics—a major environmental challenge due to their resistance to traditional recycling methods. The process separates layers while removing contaminants and odors, enabling high-quality material recovery.
• Funding Utilization: CEO Andrea Cabanes emphasized that the EIC funding will accelerate commercialization by demonstrating the technology’s efficacy to potential clients and partners. The plant will serve as a blueprint for scalable industrial adoption.
• Strategic Priorities: The company aims to leverage this phase for international expansion, focusing on partnerships with waste management firms and packaging manufacturers seeking sustainable alternatives.

As of available data from third-party sources (February–July 2024), no direct press releases or blog posts from Fych Technologies’ website (fychtech.com) were indexed in the provided materials. However, external announcements highlight their emphasis on institutional collaboration and sustainability-driven innovation.

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Sources Used

• EIC Accelerator – 68 deep-tech start-ups in the latest funding round
• EIC Accelerator: Statistics and Results from the March 2024 call

Fych Technologies SL references

Specific mentions of Fych Technologies' EIC win were identified in:

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Note: For real-time updates on patents or team changes, monitoring official channels like fychtech.com or LinkedIn is recommended since such details do not appear in publicly indexed materials related to their EIC award announcement cycle (as of mid–late 2024).

4 The Technology Advancements

Current Capabilities and Advancements of Fych Technologies SL

Fych Technologies SL, a Spanish company, specializes in plastic recycling and waste management. Their mission is to enhance plastic recyclability through innovative technologies, promoting a circular economy in the sector.

Current Capabilities

Fych Technologies has developed patented technologies for delamination, decontamination, and deodorization of plastics, enabling the production of high-quality recycled materials suitable for high-value applications, including food contact and cosmetic packaging. They have collaborated with key players in the plastic value chain and have pilot plants at the University of Alicante and in Tarragona. The company offers services such as technical consultancy and provides testing equipment for sustainable plastic waste management.

Recent Advancements

Since receiving funding from the European Innovation Council (EIC) Accelerator, Fych Technologies has been focusing on industrial scale-up efforts. They have secured additional funding through programs like the EMPYME 2024, which supports innovative small and medium-sized enterprises. This funding is dedicated to enhancing their production capacity and implementing sustainable plastic recycling solutions at an industrial scale.

Technology Improvements and Demonstrations

While specific details on new features or improvements directly attributed to the EIC funding in March 2024 are not available, Fych Technologies continues to develop its technologies to increase efficiency and scalability. They aim to be the first to bring recycled polyethylene suitable for food contact to the market, which would be a significant milestone. The company participates in industry events, such as K 2025, to showcase its capabilities and innovations.

New Patents, Studies, or Trials

There is no recent information about new patents filed or scientific studies published by Fych Technologies since the EIC funding. However, their ongoing projects, such as the H₂ODOR project, focus on developing innovative thermoplastic materials for the automotive sector, integrating environmentally friendly solutions.

Sources

• Sobre nosotros - Fych Technologies
• Fych Technologies Sl - Development Aid
• Fych Technologies S.L. of Alicante (Alacant) at K 2025 in Düsseldorf
• Nuestros servicios - Fych Technologies
• Fych Technologies, S.L. | EuroQuity
• Nuestros Proyectos - Fych Technologies
• Latest EIC Accelerator Results - Rasph
• EIC Accelerator Results – February 2025 Update (October 2024 Cutoff) - Rasph

5 The Partnerships and Customers

FYCH Technologies SL: Partnerships and Market Positioning

FYCH Technologies SL, a Spanish company specializing in plastic recycling, has been making significant strides since receiving funding from the European Innovation Council (EIC) Accelerator. The company is recognized for its innovative technologies in enhancing plastic recyclability and promoting a circular economy.

Partnerships and Customers

While specific names of new partners or customers are not detailed, FYCH Technologies has been working closely with key players in the plastic value chain through pilot development projects. Additionally, they have collaborated with entities like the University of Alicante and Sorigue for pilot plant installations. One notable collaboration is with FORMASPACK, an early adopter of their recycling technology.

New Relationships and Their Purpose

FYCH Technologies is forming relationships to advance its mission of transferring innovative technologies to the industry. These partnerships aim to increase the efficiency of waste management and enhance the quality of recycled plastics. The company's focus on licensing its technologies internationally will help establish itself as a leader in the global recycling market.

Market Positioning

These new relationships will position FYCH Technologies SL as a pioneer in plastic recycling, particularly in multilayer packaging recycling. By offering a commercially viable solution for recycling complex plastics, FYCH is poised to transform the sector by providing high-quality recycled materials for high-value applications.

Technology Advancements and Scaling

The partnerships and funding secured from the EIC Accelerator will aid FYCH in optimizing and scaling its recycling processes. The company plans to achieve industrial-scale recycling capabilities, aiming to process 500 kg/hour and eventually 1000 kg/hour, which will significantly increase its market presence and technological prowess. Additionally, collaborations with academic institutions and industry partners will continue to enhance the development of their patented deodorization and delamination technologies.

Future Impact

By establishing itself as a leader in plastic recycling, FYCH Technologies SL is set to play a crucial role in reducing environmental waste and promoting sustainability. The company's commitment to advancing recycling technologies will not only benefit its business but also contribute significantly to environmental conservation and the circular economy.

Sources

• Sobre nosotros - Fych Technologies
• Fych Technologies, S.L. | EuroQuity
• Nuestros Proyectos - Fych Technologies
• Recycling Multi-Layer Plastic | ReMLP | Project | Fact sheet - CORDIS

6 The Hiring and Company Growth

Fych Technologies SL Team and Growth Overview Fych Technologies SL, a Spanish innovator in plastic recycling, has not publicly disclosed its exact current headcount or team size. However, company profiles indicate a specialized team of 2–10 employees, structured around R&D, production, and management roles. Key positions include:

• R&D leadership: PhD-qualified experts like Blanca Calderón (Project Manager) and María del Carmen Orta (Technician), focusing on advancing recycling technologies.
• Operational roles: José Perez (Production Manager) with 15+ years’ experience and Juan de Dios Navarro (CFO) handling financial strategy.

The company secured €2.3 million from the EIC Accelerator in 2024 and is seeking an additional €4 million to scale its proprietary recycling processes. While recent hires are unspecified, their team composition emphasizes technical expertise to support growth in two key areas:

No major management changes are reported; co-founders Andrea Cabanes, Andrés Fullana, and Oksana Horodytska remain central to strategic direction.

Sources

• Sobre nosotros - Fych Technologies
• Fych Technologies SL | EuroQuity
• Empresa de reciclaje de plástico - Fych Technologies

7 The Media Features and Publications

Overview of FYCH Technologies SL

FYCH Technologies SL is a Spanish company specializing in innovative plastic recycling technologies. Established in 2020, the company is based in Alicante and operates from the Alicante Science Park. Its mission is to enhance the recyclability of plastic products and improve the quality of recycled plastics, contributing to a circular economy.

Media Features and Publications

While there is limited specific information available on media features and publications about FYCH Technologies SL, the company has been recognized for its innovative technologies and achievements. It has received awards such as "Best Startup" from Mares Circulares and "Iniciativas Empresariales innovadoras" from the UA's Gala Impulso. Additionally, FYCH Technologies SL has been involved in projects funded by the European Innovation Council (EIC), which highlights its important work in the recycling sector.

Content from Publications

Publications focus on the company's patented technologies for recycling multilayer packaging and improving the quality of recycled plastics. FYCH Technologies SL uses two exclusive technologies: delamination and deodorization, which are crucial for producing high-quality recycled materials suitable for high-value applications such as food contact packaging.

Podcasts and Interviews

There is no specific information available on podcasts or interviews involving the team of FYCH Technologies SL.

Conference and Fair Visits

FYCH Technologies SL actively participates in industry events to showcase its innovative recycling technologies and collaborate with potential clients. While specific conference details are not mentioned, the company's involvement in projects like the FYCHTECH project for laser-based recycling technology indicates its engagement with environmental innovation platforms.

Involvement in Events

FYCH Technologies SL has been involved in significant events related to environmental sustainability and innovation. The company's participation in funding competitions, such as securing €2.3 million from the EIC Accelerator, demonstrates its involvement in promoting sustainable practices in the plastic recycling sector.

EIC Accelerator Funding

FYCH Technologies SL received funding from the EIC Accelerator in March 2024, highlighting its potential for innovation and growth in the recycling industry. The funding supports the company's mission to develop sustainable recycling solutions on an industrial scale.

Sources: - Fych Technologies

• Fych Technologies S.L.
• FYCH Technologies S.L.
• FYCH Technologies S.L.
• LASER-BASED RECYCLING TECHNOLOGY TO CLOSE THE LOOP IN FLEXIBLE PACKAGING INDUSTRY