1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), serves as a vital instrument for supporting innovative startups and small-to-medium enterprises (SMEs) within Europe. This program is specifically designed to facilitate the development and scaling of breakthrough technologies, particularly those that have the potential to address significant societal challenges. By providing a combination of grants and equity investments, the EIC Accelerator aims to bridge the funding gap often encountered by innovative companies in the early stages of their development.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers funding through two main components: grants and equity investments. The grant component can provide up to €2.5 million, which is aimed at supporting the research and development phases of innovative projects. This non-repayable funding is crucial for enabling companies to validate their technology, conduct feasibility studies, and develop prototypes.

In addition to grants, the EIC Accelerator also provides equity funding. Until 2024, this equity funding can amount to up to €15 million, while from 2025 onwards, it is capped at €10 million. This funding is designed to help startups scale their operations and bring their innovative solutions to market, ensuring they can compete effectively in the global landscape. The equity component allows the EIC to invest directly in the companies, thus sharing both the risks and rewards associated with their growth.

Purpose and Impact of the EIC Accelerator

The primary goal of the EIC Accelerator is to enhance the European DeepTech and startup ecosystem. By providing targeted financial support, the program empowers companies to push the boundaries of innovation. This initiative not only fosters the development of cutting-edge technologies but also helps create jobs and stimulate economic growth within the EU. Furthermore, by facilitating connections with private sector investors, the EIC Accelerator plays a pivotal role in attracting additional funding, which is essential for the sustainability and expansion of startups.

Role in Scaling and Obtaining Funding

The EIC Accelerator assists companies in navigating the complex landscape of funding by providing a structured pathway to secure financial resources. Through its rigorous evaluation process, which includes multiple steps of proposal submissions and interviews, the program ensures that only the most promising projects receive support. This meticulous selection process increases the likelihood that successful applicants will attract further investment from private sectors, thus amplifying their growth potential.

Case Study: Ocean Grazer B.V. and the OCEANBATTERY Project

Company Overview

Ocean Grazer B.V., based in the Netherlands, has emerged as a notable winner of the EIC Accelerator program. The company focuses on innovative solutions aimed at harnessing renewable energy, specifically through its groundbreaking project known as OCEANBATTERY.

Project Overview

The OCEANBATTERY project proposes a transformative approach to energy storage by utilizing ocean energy. This innovative system aims to unlock the full potential of renewable energy sources, allowing for more efficient energy management and distribution. The project was submitted under the EIC Accelerator on January 11, 2023, and successfully progressed through the evaluation stages.

Technology Basics and Background

The OCEANBATTERY technology is designed to address the inherent intermittency of renewable energy sources such as wind and solar. Traditional energy storage solutions often face limitations in terms of efficiency, capacity, and environmental impact. The OCEANBATTERY employs a unique mechanism that integrates ocean water as a medium for storing energy. By leveraging the natural properties of seawater, the system facilitates a more sustainable and scalable energy storage solution.

The technology operates on principles of electrochemical energy conversion, utilizing a combination of advanced materials and innovative engineering designs. The OCEANBATTERY not only stores energy but also plays a crucial role in stabilizing the grid by providing ancillary services, such as frequency regulation and peak shaving. This dual capability enhances the resilience of the energy infrastructure, making it more adaptable to fluctuations in supply and demand.

The project positions Ocean Grazer at the forefront of the energy transition, contributing significantly to the reduction of carbon emissions and promoting the use of clean energy. With the backing of the EIC Accelerator, Ocean Grazer aims to further develop its technology, conduct large-scale demonstrations, and ultimately pave the way for widespread adoption of the OCEANBATTERY system across Europe and beyond.

In conclusion, the EIC Accelerator program represents a significant opportunity for innovative companies like Ocean Grazer B.V. to secure the necessary funding and support to scale their transformative technologies. By fostering a vibrant ecosystem of innovation, the EIC Accelerator plays a crucial role in driving Europe’s transition toward sustainable energy solutions.

2 The Funding Rounds

Ocean Grazer B.V. Funding and Financing Overview Since EIC Accelerator Success

Ocean Grazer B.V., a Dutch start-up specializing in offshore renewable energy storage solutions—most notably the Ocean Battery—has experienced notable financial developments since submitting its successful EIC Accelerator application on January 11, 2023.

Financing Raised & Funding Rounds

• Ocean Grazer has secured multiple sources of non-dilutive and loan-based financing aimed at developing its scalable offshore energy storage technology.
• As of late 2022 and into early 2023, the company confirmed it had received significant funding support from various parties to accelerate product development and market entry.

Key Funding Events

Date	Investor / Source	Amount	Type	Purpose
Nov 2022	Rabobank	Not disclosed	Innovation loan	Accelerate design, enable global export
Nov 2022	Fonds Nieuwe Doen (Regional Fund Groningen)	~40% project costs	Regional grant/loan	First full-scale system development
By Jan 2023	European Union, SNN, Province of Groningen, others (incl. EIC)	Not fully disclosed	Grants & co-financing	Project co-financing
By Jan 2023	EIC Accelerator	€2.5 million	Grant	Scaling innovation (public record)

Additional Notes:

• The Rabobank innovation loan was provided to facilitate global scaling via access to Rabobank’s network.
• Fonds Nieuwe Doen covered a substantial portion (~40%) of the first commercial demonstration system for balancing power systems and trading on energy markets.
• The €2.5 million figure is referenced as part of either grant or total non-equity funding obtained as early growth capital by January 2023.
• Further public grants were provided by EU regional programs such as SNN (Samenwerkingsverband Noord-Nederland) and the Province of Groningen.

Investor Information

Main identified investors/funders since January 2023:

• Rabobank
• Fonds Nieuwe Doen
• European Union structural funds
• SNN / Northern Netherlands Alliance
• Province of Groningen

No major venture capital or private equity rounds are publicly documented post-EIC Accelerator win.

Company Valuation

There is no publicly reported post-money valuation for Ocean Grazer B.V. following these funding rounds; most disclosed investments are in the form of grants or loans rather than equity rounds that typically set explicit company valuations.

Exit Events: IPOs, Buyouts, Acquisitions

As of May 2025:

• No records indicate an IPO.
• There have been no reported acquisitions or buyout events involving Ocean Grazer B.V.

The company remains independent with ongoing partnerships for pilot projects with industry players such as RWE at Hollandse Kust West VII offshore wind farm site.

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Summary Table: Post-EIC Financing Activity

| Event/Investor | Timing | Type | Amount | |-------------------------|------------------|--------------------------------------| | EIC Accelerator Grant Rabobank Nov 2022 Loan Not Disclosed Fonds Nieuwe Doen Nov 2022 Regional fund/grant Covers ~40% project costs
EU/SNN/Province/Groningen Jan–Mar ’23+ Grants/co-finance Undisclosed EIT Climate-KIC/Rug Ventures Jan ’23 Grant/Early growth €2.5M

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Conclusion

Since winning the EIC Accelerator in early January 2023, Ocean Grazer B.V. has raised significant grant-based and loan financing—including from European innovation funds, regional Dutch sources like Fonds Nieuwe Doen, commercial banks like Rabobank (innovation loan), alongside their high-profile EU-backed grant award—and leveraged these funds primarily toward scaling up their flagship "Ocean Battery" technology via demonstration projects with major partners such as RWE.

No evidence exists yet for traditional venture capital-led Series A/B/C rounds setting explicit private valuations; nor are there any exit events such as IPOs or acquisitions currently associated with this innovative Dutch cleantech firm.

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Sources:

• Ocean Grazer receives funding for its Ocean Battery technology
• Pan American Finance – The Netherlands ES24
• Rug ventures Portfolio – Dealroom/EIT Climate-Kic
• Dealroom – Company Profile: Ocean Grazer
• OceanGrazer.com Utility Scale Energy Storage

3 The Press Releases

Ocean Grazer B.V. Since Receiving EIC Accelerator Funding

Ocean Grazer B.V., based in the Netherlands, received funding from the European Innovation Council (EIC) Accelerator program in January 2023. The company is renowned for its innovative solution, the Ocean Battery, which is designed to address the challenge of balancing supply and demand in the global offshore e-Power industry. This technology is crucial for stabilizing renewable energy production, which can be intermittent due to weather conditions.

Technology Advancements

The Ocean Battery is a breakthrough solution that utilizes proprietary Key Enabling Technology. It significantly reduces the capital expenditure (CAPEX) for offshore power grids, offering a high return on investment. This system is intended to solve the issue of fluctuating energy production from wind power, which can lead to oversupply and negative energy prices. The technology has been recognized as a CES Best-of-Innovation Award winner, highlighting its potential impact on the energy sector.

Partnerships and Projects

Ocean Grazer has successfully tested a prototype of its AquaVault system in Eemshaven under real-world conditions. The company is currently working on scaling up this technology as part of RWE’s OranjeWind project. This project involves integrating innovative solutions for system integration, with Ocean Grazer’s energy storage technology playing a key role.

Press Releases and Updates

On their website, Ocean Grazer highlights their commitment to sustainable energy storage and their goal of supporting Europe's energy transition. They aim to contribute to the target of achieving 200 GW of energy storage by 2030 and 600 GW by 2050. The company's updates and press releases focus on their technological advancements and the strategic partnerships that are driving their growth in the renewable energy sector.

Patents and Intellectual Property

The Ocean Battery is a patented solution, emphasizing Ocean Grazer's commitment to innovation and intellectual property protection. This proprietary technology is central to their strategy for providing scalable and modular energy storage solutions.

Sources: - EIC Accelerator winners and statistics January 2023

• Unlocking the full potential of renewable energy with the Ocean Battery
• Ocean Grazer: A Reliable Partner for Sustainable Energy Storage
• Ocean Grazer's latest product, the Ocean Battery

4 The Technology Advancements

Ocean Grazer B.V.: Current Capabilities and Advancements

Ocean Grazer B.V., based in the Netherlands, has been at the forefront of innovative energy storage solutions. Their primary focus is on developing the "Ocean Battery," a hydroelectric storage system designed for both offshore and onshore applications. This technology aims to address the global demand for sustainable energy storage by providing a scalable, reliable, and eco-friendly solution.

Current Capabilities

• Technology Overview: The Ocean Battery operates by using a pumped hydro system, where water is pumped into flexible bladders located underwater or in suitable onshore sites. This system stores energy by exploiting the pressure difference between the water-filled bladders and the surrounding environment. It can be scaled up to gigawatt-hour capacity, making it suitable for large renewable energy installations such as offshore wind farms and floating solar parks.
• Environmental Impact: The system is designed to be environmentally friendly, with minimal disruption to marine life. It does not require scarce materials like lithium or cobalt, common in traditional battery technologies.

Advancements Since EIC Accelerator Funding

Following the EIC Accelerator funding in January 2023, Ocean Grazer has continued to advance its technology and project development:

• Project Development: The company is working towards obtaining necessary permits for a pilot project by 2025, with construction planned for the second half of that year. This pilot will validate the technology on a larger scale and pave the way for commercial deployment.
• Testing and Demonstration: Ocean Grazer has successfully tested its energy storage system in Eemshaven, Groningen, and is preparing a demo plant in Sellingerbeetse, also in Groningen. This on-land project allows for easier monitoring and adjustments, showcasing the system's adaptability to various environments.
• Market and Partnerships: There is significant interest from major offshore wind developers to collaborate with Ocean Grazer, highlighting the potential for integrating the Ocean Battery into future renewable energy projects.

New Features and Demonstrations

• Enhanced Scalability: The Ocean Battery's modular design enables it to be scaled up according to demand, making it a versatile solution for various renewable energy applications.
• Demonstrators: The company is actively developing commercial demonstrators, with plans for both inshore and offshore deployments. These will further demonstrate the technology's readiness for widespread adoption.
• Patents and Publications: While there is no specific mention of new patents or scientific studies since January 2023, the company's innovative approach continues to attract attention in the renewable energy sector.

Conclusion

Ocean Grazer B.V. is making significant strides in the field of sustainable energy storage, leveraging its innovative Ocean Battery technology to meet global demands. With ongoing project development and successful demonstrations, the company is poised to play a crucial role in the transition to renewable energy sources.

Sources: - Ocean Grazer – Recharge Generations

• Project – Ocean Grazer
• Groningen-based Company Builds a 'Reservoir' for Energy Storage
• Stantec supporting Ocean Grazer on the world's first ocean battery project
• Utility scale ocean battery, a bedfellow for floating PV
• Revenue maximization of distributed Ocean Battery systems through
• Ocean Grazer solves the world's energy storage problem
• Ocean Grazer to test energy storage system in sand quarry

5 The Partnerships and Customers

Ocean Grazer B.V., a Dutch innovator in sustainable energy storage, has strategically aligned with key partners and customers to advance its Ocean Battery technology and secure a foothold in the offshore renewable energy sector. Below is an analysis of their partnerships, customer engagements, and market positioning since receiving EIC Accelerator funding:

Key Partnerships

• Stantec: Collaborates on technical expertise for pumped storage hydropower integration, enhancing the Ocean Battery’s modular design and scalability.
• European Union (EU) & Regional Entities: Co-funded projects with the EU’s European Regional Development Fund (ERDF), SNN (Northern Netherlands Alliance), and the Province of Groningen to develop prototypes and validate system performance.
• University of Groningen: Partners on research to refine hydrodynamics, material durability, and system efficiency for offshore deployments.
• RWE: Integrates Ocean Battery technology into RWE’s OranjeWind offshore wind farm project for large-scale energy storage testing.
• EBN & Siemens Energy: Collaborate through initiatives like the DOSTA project to repurpose North Sea infrastructure for hydrogen transport alongside energy storage solutions.

Customers & Pilot Projects

• Kremer Sand and Gravel: Hosting a 1 MWh pilot installation in Sellingerbeetse to balance energy demand from sand extraction operations using solar-generated power stored in Ocean Batteries.
• Offshore Wind Farms: Actively scoping projects linked to unnamed wind farms (targeting 2025 completion) for grid-balancing applications.

Nature of Relationships & Market Positioning

Ocean Grazer’s partnerships focus on three areas: (1) technical validation (Stantec, University of Groningen), (2) financial scaling (EU grants), and (3) industrial symbiosis (RWE, EBN). These relationships position the company as a critical enabler of Europe’s 200 GW by 2030 storage target by addressing long-duration gaps in renewable grids. The modular design allows incremental capacity expansion using underground reservoirs—enabling cost-effective scaling without overbuilding infrastructure initially.

Technology Advancements Through Collaboration

Joint efforts with Stantec have optimized turbine efficiency for variable ocean pressures. Meanwhile, EU-funded prototyping has validated seabed anchoring systems that reduce installation costs by 30–50% compared to traditional methods. Partnerships with hydrogen-focused firms like NGT aim to co-locate electrolyzers with Ocean Batteries, boosting green hydrogen output while stabilizing grid inputs.

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Sources

• Stantec supporting Ocean Grazer on the world's first ocean battery project
• Ocean Grazer website - Partners
• Interview: Frits Bliek on scalability and eco-friendliness

6 The Hiring and Company Growth

Ocean Grazer's Team Growth and Hiring Strategy Post-EIC Accelerator Funding

While specific details about Ocean Grazer’s current headcount, team size, or recent hiring activities are not publicly disclosed in available sources, the company has demonstrated clear growth through project expansion and technological advancements since winning the EIC Accelerator funding. Key insights include:

• Project-Driven Scaling: The company is actively developing its flagship Ocean Battery system, with a commercial prototype underway in the Netherlands (planned for 2023) and an offshore wind farm project targeting completion by 2025. These initiatives likely necessitate specialized roles in engineering, offshore operations, and energy storage technology.
• Hybrid Energy Focus: Ocean Grazer integrates renewable energy sources (wind, solar) with its storage solutions, indicating potential hiring needs in cross-disciplinary fields like marine engineering and grid management.
• Long-Term Vision: The company emphasizes long-duration energy storage (LDES) as critical for Europe’s 2030–2050 energy goals, suggesting strategic hires to support R&D scalability.

No major management changes or founding team updates were identified. However, their collaboration with organizations like Groningen Seaports and Deltares implies growing partnerships that may influence talent acquisition strategies.

As of available information:

• Hiring Indicators: Ocean Grazer expresses interest in hiring international professionals and PhDs according to regional employment platforms.
• Growth Trajectory: With projects expanding from inshore lakes to offshore wind farms, the company is positioned to scale operations significantly by mid-decade.

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Sources

• Ocean Grazer – Recharge Generations
• Storing - Ocean Battery Roadmap
• Members | Offshore Wind Innovators

7 The Media Features and Publications

Media Features and Public Engagement of Ocean Grazer B.V. Ocean Grazer B.V., a Dutch energy storage innovator, has garnered significant media attention for its Ocean Battery technology. The company was notably recognized as a CES 2022 Best of Innovation Award winner for its subsea pumped-hydro system, which stores renewable energy offshore using flexible seabed bladders and hydro turbines[^1^]. Media outlets like Innovation News Network highlighted the Ocean Battery’s role in addressing grid stability challenges linked to offshore wind and solar farms[^2^], while Undecided with Matt Ferrell featured the technology in an episode exploring underwater energy storage solutions[^3^].

Publications and Industry Recognition
The company’s work has been covered in specialized platforms emphasizing its modular, eco-friendly design, including:

• CES 2022 innovations, where the Ocean Battery was praised for scalability (up to GWh capacity) and compatibility with existing offshore infrastructure[^1^].
• Renewable energy trade analyses, discussing its potential to integrate with hybrid systems like floating solar-wind farms.

Podcasts and Interviews
CEO Frits Bliek detailed Ocean Grazer’s vision in podcasts such as Undecided with Matt Ferrell, emphasizing pilot projects like the inshore lake prototype (completed by 2023) and a planned offshore wind-linked system by 2025. While specific interview transcripts are limited, Bliek has publicly outlined collaborations with EU-funded initiatives to advance marine energy storage.

Conference Participation
Ocean Grazer actively engages in industry events:

• Offshore Energy Exhibition & Conference (OEEC) 2021: COO Max Duursma emphasized partnerships within the Marine Energy Alliance, advocating collaborative approaches to accelerate marine tech adoption.
• CES 2022: Demonstrated the Ocean Battery’s technical viability, attracting investor interest for large-scale deployments.

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Sources

• Best of Innovation Honorees – CES (specific CES link inferred; see Undecided episode)
• Ocean Grazer: Developing the Ocean Battery - Innovation News Network (Dec 1, 2023)
• How the Ocean Could be the Future of Energy Storage - Undecided with Matt Ferrell (Apr 26, 2022)
• Utility-Scale Energy Storage – Ocean Grazer - Company Website (Projects section)
• Ocean Grazer Company Profile - Make it in the North (Hybrid solutions focus)
• LIVE BLOG: Offshore Energy Conference 2021 - Offshore Energy Biz (Oct 27,