1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. This program aims to foster the development of breakthrough technologies and innovations, particularly in the DeepTech sector, by providing substantial financial support through blended finance. The program is a pivotal component of the European Union's strategy to enhance competitiveness and innovation across its member states.

Funding Structure

The EIC Accelerator offers two main types of funding: grants and equity.

Purpose in the DeepTech and Startup Ecosystem

The EIC Accelerator plays a significant role in enhancing the European DeepTech ecosystem by addressing the funding gap that often exists for high-risk, high-reward innovations. By providing both grants and equity investments, the program reduces the financial burden on startups, allowing them to focus on technological advancements and market entry. This support not only helps individual companies scale but also contributes to the overall growth of the European economy by fostering innovation and creating jobs.

Role in Scaling Companies and Attracting Private Sector Funding

The EIC Accelerator serves as a catalyst for startups, enabling them to refine their business models, develop market-ready products, and enhance their attractiveness to private investors. By providing initial funding, the program helps companies reach critical milestones that can significantly increase their valuation and appeal. This, in turn, facilitates further investments from private equity and venture capital, essential for scaling operations and entering competitive markets.

Case Study: GREENERWAVE and the Greenerwave Project

Company Overview

GREENERWAVE, a French company, recently emerged as a winner of the EIC Accelerator, securing funding for its project titled Greenerwave. The project aims to develop the first high-performance, low-cost flat panel antenna terminal operating at the Ka band. This innovation is poised to unlock the full potential of satellite-based broadband communications, offering significant advancements in connectivity.

Project Description

The Greenerwave project focuses on creating a flat panel antenna terminal that is both high-performance and cost-effective. Traditional satellite communication systems often rely on bulky and expensive antenna systems, which can hinder accessibility and affordability. GREENERWAVE's innovation seeks to address these challenges by leveraging advanced materials and manufacturing techniques to produce a more compact and efficient antenna solution.

Technology Basics and Background

The technology behind Greenerwave is rooted in the principles of phased array antennas, which allow for electronic beam steering and improved signal quality. Operating at the Ka band, which ranges from 26.5 to 40 GHz, these antennas can provide high data rates essential for modern broadband services, including Internet of Things (IoT) applications and high-definition video streaming.

Phased array technology enables multiple antennas to work in unison, allowing for rapid adjustments in signal direction without the need for mechanical movement. This not only enhances performance but also reduces the physical footprint of the antenna system. GREENERWAVE's approach incorporates novel materials that aim to lower production costs while maintaining high performance, making satellite communications more accessible to a broader audience.

In conclusion, the EIC Accelerator program plays a critical role in supporting innovative companies like GREENERWAVE. By providing blended finance solutions, it enables startups to develop groundbreaking technologies that can significantly impact the market and contribute to the advancement of the European DeepTech ecosystem.

2 The Funding Rounds

Greenerwave: Financing and Funding History Since EIC Accelerator Award

Overview

Greenerwave, a French deeptech company specializing in electromagnetic wave control technologies, has experienced notable fundraising activity since submitting its winning EIC Accelerator Step 2 proposal on March 22, 2023. The following summarizes key details about its financing rounds, investor participation, timing and amounts raised, as well as any available information on valuations and exit events.

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Funding Rounds & Amounts

• Seed Funding (2016):
• In March 2016, Greenerwave closed an initial seed round of up to €1 million.
• Investors included CNRS (French National Centre for Scientific Research) and business angels such as Xavier Niel.
• Incubator/Accelerator Support (2017):
• On September 20, 2017, Greenerwave received support through an incubator/accelerator round. Details regarding the amount are not specified.
• Series A Funding (February 2024):
• On February 1, 2024, Greenerwave announced the closing of a Series A fundraising round totaling €15 million ($16.17 million).
• This significant investment was led by the Defence Innovation Fund (managed by Bpifrance), with participation from Safran Corporate Ventures, Intelsat, BNP Paribas Développement and Plastic Omnium.
• The Series A aimed to accelerate product development—most notably a flat electronically reconfigurable antenna for satellite communications—and expand the company's workforce and sales efforts.

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Investors

• Seed Round: CNRS; business angels including Xavier Niel
• Series A: Bpifrance via Defence Innovation Fund; Safran Corporate Ventures; Intelsat; BNP Paribas Développement; Plastic Omnium

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Timing of Major Rounds

Date	Round	Amount Raised	Key Investors
Mar.31.2016	Seed VC	~€1M	CNRS; Xavier Niel
Sep.20.2017	Incubator/Accel	Not disclosed	Not disclosed
Feb.01.2024	Series A	€15M (~$16.17M USD)	Bpifrance (Defence Innovation Fund), Safran Corp., Intelsat et al.

Following EIC Accelerator success in March–April of previous year.

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Company Valuation

No public valuation figures have been disclosed for any funding rounds or post-money status as of May 2025.

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Exit Events: IPOs or Acquisitions

There is no public record or announcement regarding Greenerwave undergoing an IPO or being acquired/bought out since receiving EIC Accelerator funding up to May 2025.

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Additional Information Related to Recent Funding

• The Series A funding coincided with rapid technology commercialization efforts—particularly targeting energy-efficient connectivity solutions for next-generation satellite communications markets.
• As part of its scaling strategy post-Series-A:
• Workforce expansion was prioritized.
• Product development focused on launching a pre-orderable flat intelligent antenna by late-2024 using proprietary reconfigurable intelligent surfaces technology.
• Strategic investors brought market expertise spanning defense technology integration to telecommunications infrastructure.

Greenerwave continues leveraging both grant/equity support from European innovation initiatives like the EIC Accelerator alongside institutional venture capital to drive growth toward global leadership in energy-efficient connectivity technologies.

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Sources

• Paris-based Greenerwave bags €15 million to make waves in the energy-efficient connectivity sector
• Greenerwave Stock Price, Funding, Valuation, Revenue & Financials

3 The Press Releases

GREENERWAVE: A Pioneer in Reconfigurable Intelligent Surfaces

GREENERWAVE, based in France, is a pioneering company in the field of Reconfigurable Intelligent Surfaces (RIS). They have developed and perfected this groundbreaking technology, which enables precise and adaptable manipulation of electromagnetic waves. This expertise positions GREENERWAVE as a leader in the field, paving the way for more efficient, sustainable, and energy-saving connectivity solutions for future wireless networks.

EIC Accelerator Funding

On March 22, 2023, GREENERWAVE successfully secured funding from the European Innovation Council (EIC) Accelerator. This funding is part of the EIC's initiative to support deep-tech innovations across Europe, with the goal of bringing game-changing technologies to the market.

Technology Advancements

GREENERWAVE's technology focuses on RIS, which allows for dynamic control of electromagnetic waves. This innovation is crucial for enhancing the performance and efficiency of wireless communication systems. The company's unique patent portfolio and know-how enable them to design and optimize RIS solutions, contributing to the development of future wireless networks.

Patents

GREENERWAVE has been actively involved in patent development related to electromagnetic wave manipulation. Recent patents include methods and systems for shaping an electromagnetic wavefront and radar devices with controllable electromagnetic surfaces.

Press Releases and Updates

Currently, there are no specific press releases or updates available on GREENERWAVE's official website regarding their EIC Accelerator funding or recent developments. However, their participation in events like MWC Barcelona highlights their continued innovation and leadership in the field of RIS.

Conclusion

GREENERWAVE's success in securing EIC funding underscores their commitment to advancing RIS technology. Their innovative solutions are poised to play a significant role in shaping the future of wireless communication.

Sources

• EIC Accelerator winners and statistics March 2023
• Patents Assigned to GREENERWAVE
• Greenerwave - MWC Barcelona

4 The Technology Advancements

Greenerwave: Current Capabilities and Advancements

Greenerwave, a French company specializing in electromagnetic wave control technologies, has made significant strides in recent times. Founded as a spin-off from the Langevin Institute, Greenerwave develops innovative solutions using Reconfigurable Intelligent Surfaces (RIS) and advanced algorithms to enhance connectivity and detection capabilities. Since receiving funding, the company has continued to showcase its capabilities in various sectors.

Current Capabilities

• Technology: Greenerwave's technology focuses on shaping electromagnetic waves using RIS and physics-inspired algorithms. This approach minimizes energy consumption and reduces dependence on semiconductors, making it more sustainable and resilient against shortages.
• Products: The company offers a new generation of energy-efficient flat user terminals for Low Earth Orbit (LEO) and Geostationary Orbit (GEO) satellites. Additionally, it develops reconfigurable intelligent surfaces and software-defined antennas for 5G and 6G applications.

Advancements Since Funding

Following the EIC Accelerator funding in March 2023, Greenerwave has enhanced its market presence and technological capabilities:

• Integration with Telespazio France: Greenerwave integrated its solutions into Telespazio France's service catalogue as part of the EU SATCOM Market Program. This integration provides access to a broader European clientele and positions Greenerwave as a key player in European defense and security satellite communications.
• Fundraising and Growth: In early 2024, Greenerwave secured €15 million in funding, which aims to accelerate growth, expand its workforce, and enhance its product offerings. This investment underscores the company's potential in both defense and civilian sectors.

Demonstrations and Trials

Greenerwave has actively demonstrated its technology in various settings:

• Successful Trials with the French Army: Greenerwave conducted successful trials of its GEO/LEO terminal with the Technical Section of the French Army (STAT), showcasing rapid deployment and low power consumption capabilities.
• Showcases at SOFINS: The company presented its GEO/LEO user terminal mounted on a Serval vehicle at SOFINS, highlighting its adaptability for special operations forces.

New Patents and Scientific Publications

Greenerwave continues to innovate and protect its intellectual property:

Patent Assignments: The company has been granted several patents related to electromagnetic wave control and detection technologies. These patents highlight Greenerwave's commitment to advancing its technological capabilities.

Sources

• Greenerwave
• Greenerwave GEO/LEO Terminal: Successful Trials with the STAT
• News - Greenerwave
• Greenerwave joins Telespazio France's Catalogue as part of the EU SATCOM Market Program
• Greenerwave joins Telespazio France's Catalogue as part of the EU SATCOM Market Program (PDF)
• Patents Assigned to GREENERWAVE
• Technology - Greenerwave
• Paris-based Greenerwave bags €15 million to make waves in the energy-efficient connectivity sector
• Intelsat Unveils Terminal Strategy to Power Multi-Orbit Satellite Services

5 The Partnerships and Customers

GREENERWAVE: Expanding Horizons with EIC Accelerator Funding

GREENERWAVE, a French company, has gained significant recognition after receiving funding from the European Innovation Council (EIC) Accelerator in March 2023. The company is pioneering the development of high-performance, low-cost flat panel antenna terminals at Ka band, designed to unlock the full potential of satellite-based broadband communications.

Partnerships and Customers

Currently, there is no publicly available information on specific partnerships or customers GREENERWAVE has associated itself with. However, the EIC funding is likely to attract interest from major players in the satellite communications industry, given the innovative nature of its product.

New Partners and Customers

As GREENERWAVE expands its operations and technologies, it may engage with new partners and customers in the satellite communications sector. These relationships could involve collaborations with satellite operators, telecommunications companies, or technology firms seeking to integrate GREENERWAVE's antenna solutions into their services.

Nature and Purpose of New Relationships

New relationships for GREENERWAVE would likely focus on strategic partnerships to enhance its technology and market reach. These partnerships could involve joint product development, market access agreements, or strategic investments to further scale its operations. The purpose would be to leverage GREENERWAVE's innovative antenna technology to expand satellite broadband services globally, especially in underserved areas.

Market Positioning

By securing EIC Accelerator funding, GREENERWAVE positions itself as a leader in the development of low-cost, high-performance satellite antenna systems. This recognition could enhance its reputation in the market, attracting both investors and customers interested in cutting-edge satellite communication solutions.

Technology Advancements and Scaling

The EIC funding will significantly aid GREENERWAVE in advancing its technology and scaling production. By investing in research and development, the company can refine its flat panel antenna design, improve efficiency, and reduce costs further. Additionally, the funding will facilitate partnerships and collaborations that could accelerate the adoption of GREENERWAVE's technology in various sectors, from consumer broadband to enterprise communications.

Conclusion

GREENERWAVE's success in securing EIC Accelerator funding marks a pivotal moment in its growth trajectory. With its innovative Ka band antenna technology and strategic positioning, the company is poised to play a significant role in shaping the future of satellite communications. As it forges new relationships and expands its capabilities, GREENERWAVE is likely to become a key player in the global satellite broadband market.

Sources

• Ka user terminal - Greenerwave
• EIC Accelerator-March 22 2023 Cut-Off
• EIC 2023 work programme

6 The Hiring and Company Growth

Greenerwave: Team Growth and Hiring

Greenerwave, a French company specializing in electromagnetic wave control technologies, has experienced significant growth since receiving the EIC Accelerator funding in March 2023. This growth is fueled by innovative solutions and strategic partnerships.

Current Headcount and Team Size

The company's employee count has varied across reports, with some sources indicating around 38 employees, while others suggest a larger team of over 150 professionals. However, as of recent information, Greenerwave has about 85 employees, including 50 engineers, following a significant expansion plan.

Hiring and Growth

Following a €15 million fundraising round in February 2024, Greenerwave aims to strengthen its workforce and develop its sales force, expanding its product portfolio to meet exponential market expectations. This indicates that the company is likely actively hiring to support its ambitious growth plans.

Recent Hiring and Key Positions

Greenerwave's team includes experts in various fields, such as RF systems, algorithms, and embedded electronics. Key positions include Delphine Benicourt as Chief Technology Officer, Magalie Peter as Chief People Officer, and Yoann Jezequel as SATCOM Business Line Director. Recent growth efforts have been focused on enhancing its leadership and technical capabilities.

Impact of New Team Members

The addition of new team members and the expansion of key positions are crucial for Greenerwave's future. These hires enable the company to scale its operations, innovate further in energy-efficient connectivity solutions, and strengthen strategic partnerships with major industry players. This growth supports Greenerwave's ambition to become a world leader in energy-efficient connectivity.

Management and Founding Team Changes

There have been no major reported changes in the management or founding team of Greenerwave. The company continues to be led by its co-founder and CEO, Geoffroy Lerosey, with a focus on innovation and collaboration.

Future Outlook

Greenerwave's growth trajectory is marked by its commitment to sustainability and technological innovation. As it expands its team and product offerings, the company is poised to play a significant role in shaping the future of wireless communications and satellite technologies.

Sources

• Greenerwave
• Team - Greenerwave
• Greenerwave and Intelsat Redefine Multi-Orbit Connectivity
• Paris-based Greenerwave bags €15 million
• GREENERWAVE SWOT Analysis
• Greenerwave - Overview
• Satellite 2025 – Driving Business

7 The Media Features and Publications

Media Coverage and Public Engagement of Greenerwave Post-EIC Accelerator Funding Greenerwave, the French deep-tech innovator specializing in electromagnetic wave control, gained significant visibility following its EIC Accelerator win in March 2023. While detailed media features or podcasts directly referencing their EIC achievement are not explicitly documented in available sources, the company actively engages through conferences and industry events.

Key Engagements and Features

• EIC Accelerator Recognition: Greenerwave was highlighted as a March 2023 EIC Accelerator winner for developing high-performance, low-cost flat-panel satellite antennas. The company’s Ka-band terminal technology aligns with its mission to revolutionize connectivity solutions.
• Conference Participation:
• MWC 2025 & Satellite 2025: Greenerwave showcased energy-efficient beamforming solutions at Mobile World Congress (Barcelona) and Satellite 2025 (Washington), emphasizing innovations in telecom and SATCOM.
• SOFINS: Demonstrated GEO/LEO user terminals mounted on military vehicles.
• Techinnov: Collaborated with Safran to present advancements in defense and aerospace.
• Awards & Publications: Founders Geoffroy Lerosey and Mathias Fink were featured in Le Point’s 2025 Inventors Ranking for transformative contributions to wave physics applications.

Strategic Partnerships & Defense Involvement

Greenerwave joined Telespazio France’s EU SATCOM Market Program catalogue under the European Defence Agency, enhancing its role in secure satellite communications. The company also participated in defense-focused events like the DGA New Year’s Ceremony and AI conferences organized by French military authorities.

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Sources

• EIC Accelerator winners March 2023
• EIC March Cut-off Report
• Greenerwave About Page
• Greenerwave News Updates

====== Note: No direct podcasts or third-party media articles were identified beyond company-published content.