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 in Europe aiming to develop and scale innovative technologies. It primarily focuses on deep-tech innovations that have the potential for high impact in their respective sectors. The program provides both grant funding and equity investments, facilitating a comprehensive financial backing mechanism tailored to the diverse needs of startups and SMEs.

Funding Structure

The EIC Accelerator offers funding in two main forms:

Purpose and Role in the Ecosystem

The EIC Accelerator aims to bridge the gap between innovation and market deployment. By providing substantial financial support, it empowers companies to pursue ambitious projects that may otherwise struggle to secure funding from traditional sources. The program is particularly crucial for deep-tech startups, which often face longer development timelines and higher risks associated with their innovative technologies.

Furthermore, the EIC Accelerator enhances the European startup ecosystem by fostering collaboration among startups, investors, and research institutions. By equipping companies with the necessary resources and support, the program encourages innovation and competitiveness within the European market.

Case Study: SUBRA A/S and the SUBRACABLE Project

Company Overview: SUBRA A/S, a Danish company based in Denmark, has emerged as a winner of the EIC Accelerator program for its innovative project titled SUBRACABLE. The project focuses on making superconducting power grids a feasible solution for Europe.

Project Description: The SUBRACABLE project aims to develop cutting-edge superconducting technology to enhance power grid efficiency and reliability. Superconducting power grids utilize materials that can conduct electricity without resistance when cooled below a certain temperature. This technology has the potential to significantly reduce energy losses, increase transmission capacity, and enable the integration of renewable energy sources into existing grids.

Technology Background: The foundational technology behind SUBRACABLE involves advances in superconducting materials and their application to power transmission. Traditional power grids often experience substantial energy losses due to resistance in conductive materials, which leads to inefficiencies and increased operational costs. Superconductors, by contrast, eliminate these losses, allowing for more efficient energy transfer over long distances.

The project is particularly timely and relevant, given Europe’s increasing demand for sustainable energy solutions. By enabling the integration of renewable energy sources, such as wind and solar, superconducting power grids can contribute to the transition towards a decarbonized energy system. Additionally, the enhanced efficiency of these grids can help alleviate congestion and improve overall grid stability.

Conclusion

The EIC Accelerator plays a pivotal role in supporting innovative companies like SUBRA A/S, providing them with the necessary funding and resources to scale their groundbreaking technologies. Through the SUBRACABLE project, SUBRA A/S is poised to revolutionize the European energy landscape, demonstrating the potential of superconducting technology to address pressing energy challenges. The program not only fosters innovation but also strengthens the European startup ecosystem, ensuring that transformative technologies can thrive and make a significant impact on society.

2 The Funding Rounds

SUBRA A/S: Financing and Funding Events Since EIC Accelerator Award

Overview

SUBRA A/S, a Danish deep-tech company specializing in superconductors for energy grids and fusion technology, has pursued significant financing activities since winning the EIC Accelerator funding in March 2023.

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EIC Accelerator Grant (2023)

• Amount & Timing: In June 2023, SUBRA A/S publicly announced it had secured €3.5 million in funding from the European Innovation Council (EIC) Accelerator programme.
• Purpose: The grant was targeted at developing innovative superconducting cables for power transmission.

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Private Investment Round with Novo Holdings (December 2024)

• Timing: December 19, 2024
• Type of Funding: Convertible loan investment by Novo Holdings A/S.
• Investor Information:
• Novo Holdings A/S is one of Europe’s largest life science investors and the asset manager for the Novo Nordisk Foundation.
• The partnership was established to accelerate SUBRA’s development of next-generation superconductor technologies aimed at supporting green energy transition goals.
• Legal Support: Skau Reipurth, a Danish law firm, assisted SUBRA with legal advice during this investment round.

The exact amount of this convertible loan is not disclosed in public press releases as available from current sources. However, its strategic significance is emphasized by both parties as foundational for scaling production capabilities and market impact.

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Other Publicly Funded Projects

SUBRA has also twice received grants from Innovation Fund Denmark to support its R&D activities. Details about timing or amounts are not specified but highlight ongoing support beyond direct equity or loan investment rounds.

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Company Valuation

There are no public disclosures regarding explicit company valuations following these funding events.

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Exit Events

As of May 2025:

There have been no reports of IPOs, buyouts, or acquisitions involving SUBRA A/S based on all available recent news sources.

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Summary Table: Key Funding Events

Date	Type	Amount	Investor / Source	Notes
Mar/Jun 2023	EIC Accelerator Grant	€3.5 million	EU/EIC	First major international grant after award decision
Dec 19, 2024	Convertible Loan	Undisclosed	Novo Holdings A/S	Major private round; strategic partnership
Various	National Grants	Unspecified	Innovation Fund Denmark	At least two innovation project grants

No exit events (IPO/buyout/acquisition) reported up to current date.

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Sources

• PRESS RELEASE: SUBRA wins EIC funding
• Skau Reipurth assists SUBRA A/S with a funding round from Novo ...
• News – SUBRA A/S
• Novo Holdings and SUBRA join forces to accelerate development... (BEBEEZ)
• Novo Holdings and Subra join forces... (PRNewswire UK)
• PRESS RELEASE: Subra joins forces with Novo Holdings

3 The Press Releases

SUBRA A/S Secures €3.5 Million EIC Accelerator Funding for Superconducting Cable Innovation Danish deep-tech company SUBRA A/S announced in June 2023 that it secured €3.5 million in funding from the European Innovation Council (EIC) Accelerator to advance its superconducting cable technology for power transmission. The award followed the March 22, 2023, cut-off date, positioning SUBRA among a competitive cohort of companies selected for their high-impact innovations.

While specific technical details about partnerships or patents are not disclosed in available materials, the funding supports SUBRA’s development of next-generation superconducting cables designed to enhance energy efficiency and grid reliability. The company’s focus on power transmission aligns with EU priorities in clean energy infrastructure.

Publicly accessible information from SUBRA’s website (subra.dk) does not provide additional press releases or blog posts beyond the June 2023 announcement. No team updates or social media content is referenced in available sources.

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Sources

• PRESS RELEASE: SUBRA wins EIC funding
• European Innovation Council Accelerator: 51 deep tech start-ups selected
• EIC Accelerator's second 2023 call winners

4 The Technology Advancements

Current Capabilities of SUBRA A/S

SUBRA A/S is a Danish deep-tech company that has been pioneering the field of superconductivity for over 15 years. As a spin-off from the Technical University of Denmark, SUBRA specializes in developing superconductor solutions for the green transition, focusing on fusion power systems and accelerator magnets. Their innovative approach involves transforming superconductors from flat tape technology to bundled wires, which could overcome the limitations of traditional copper cables and current flat tape superconductors. This technology, known as the SUBRACABLE, offers superior properties such as thermal robustness, mechanical flexibility, and high current capacity.

Advancements Since Receiving EIC Accelerator Funding

After securing funding from the European Innovation Council (EIC) Accelerator in March 2023, SUBRA A/S has made significant advancements. The company received a major funding package, which includes a grant of €2.5 million to accelerate the development of the SUBRACABLE technology for upgrading the European transmission grid and supporting green electrification. This funding has positioned SUBRA to make a critical impact in the green transition by reducing copper usage and energy losses in power grids.

In December 2024, SUBRA announced a partnership with Novo Holdings, supported by a convertible loan, to fast-track the development of innovative superconductor technology for power transmission and fusion energy. This partnership aims to enhance SUBRA's capabilities in superconductor production and scalability, addressing key challenges in cost-effective production and application in fusion reactors.

Improvements in Technology and New Features

SUBRA's technology advancements are centered around the SUBRACABLE innovation, which represents a technological leap in high-temperature superconductors for power transmission. The company's focus on scalability, thermal robustness, and mechanical flexibility has improved its technology, enabling it to support long-distance power transmission with minimal energy loss.

Market Demonstration

While specific details on customer demonstrations or pilots are not widely reported, SUBRA's involvement in developing superconductor solutions for large-scale applications suggests potential for future market demonstrations in power transmission and fusion energy sectors. The company's commitment to sustainability and its partnerships indicate a strong intent to deploy its technology in real-world settings.

Patents and Scientific Studies

Since receiving the EIC funding, there is no publicly available information on new patents filed or scientific studies published specifically by SUBRA A/S. However, the company's ongoing research and development activities are likely contributing to advancements in superconductor technology.

Conclusion

SUBRA A/S has made substantial progress in superconductor technology development, particularly with the SUBRACABLE innovation, since securing EIC funding in March 2023. The company's strategic partnerships and funding support have positioned it well for further technological advancements and potential market deployments in the future.

Sources: - SUBRA A/S

• Press Release: SUBRA joins forces with Novo Holdings
• Novo Holdings and SUBRA join forces to accelerate development of innovative superconductor technology
• SUBRA wins EIC funding
• Big Science Business Forum 2024

5 The Partnerships and Customers

Partnerships, Customers, and Strategic Positioning of SUBRA A/S Post-EIC Accelerator Funding SUBRA A/S, a Danish deep-tech company specializing in high-temperature superconductors, has strategically partnered with key entities to advance its mission of transforming energy transmission and supporting the green transition. Below is an analysis of its partnerships, market positioning, and technological roadmap based on recent developments:

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Key Partnerships

• Nature: Convertible loan agreement to accelerate superconductor R&D and scaling.
• Purpose: Enable SUBRA’s transition to large-scale production of its SUBRACABLE technology for zero-resistance power transmission and fusion energy applications. Novo Holdings’ focus on planetary health aligns with SUBRA’s sustainability goals.
• Market Positioning: Positions SUBRA for Series A financing in 2025 while enhancing credibility in climate-tech investments.

• Role: Collaborates on superconducting magnet designs for hydrogen liquefaction projects.
• Outcome: Strengthens SUBRA’s expertise in energy storage solutions linked to green hydrogen production.

• Grant Awarded: €3.5 million (including €2.5M grant) to develop the SUBRACABLE prototype into a production-ready solution.
• Impact: Addresses Europe’s urgent need for grid upgrades by reducing copper dependency by 99% compared to traditional cables while minimizing energy losses.

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Customers & Applications

While specific customer names are undisclosed:

• Target Sectors: Power grid operators seeking long-distance transmission solutions; fusion energy developers requiring high-field magnets; green hydrogen producers needing efficient liquefaction systems.
• Use cases include:
• Pan-European Supergrid development using superconducting cables capable of transmitting power over thousands of kilometers with minimal losses (75,000 km EU grid expansion cited).

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Technology Advancements & Scaling Strategy

• SUBRACABLE Innovation: Transforms flat tape superconductors into bundled wires for improved thermal robustness, mechanical flexibility, and scalability—critical for industrial adoption. This directly addresses existing challenges like production costs and length limitations in current superconducting tapes.
• Novo Holdings’ funding will enhance manufacturing capabilities ahead of Series A financing rounds planned for 2025 .

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Market Outlook post-Partnerships

SUBRA aims to become a leader in scalable superconductor manufacturing by leveraging partnerships that bridge R&D excellence with commercialization support. The EIC funding accelerates product-market fit testing via real-world pilot deployments across Europe.

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Sources Used

Novo Holdings Partnership Announcement [Dec 2024] | Alternative Link

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⚠️ Note: Formatting adjusted due to conflicting instructions: URLs are embedded as markdown links above but listed below per request:

5–7: Duplicates or less relevant. 8: Legal statute excluded as irrelevant. 9: Skau Reipurth legal advisory detail. 10: EIC Accelerator announcement via StateofGreen.

(Relevant sources directly related to partnerships/customers included above; others omitted)

6 The Hiring and Company Growth

SUBRA A/S Team Growth and Scaling Strategy Post-EIC Accelerator Funding As a Danish deep-tech company specializing in superconductivity, SUBRA A/S has positioned itself as a critical player in advancing energy transmission and fusion technology. While specific hiring timelines or role details remain undisclosed, the following insights emerge from recent developments:

• Current Headcount: SUBRA employs over 30 staff members, including production officers, technicians, and R&D specialists[^1^][^2^].
• Growth Trajectory: The company is actively scaling its operations, evidenced by a December 2024 partnership with Novo Holdings to accelerate superconductor development[^3^][^7^]. This collaboration includes financial support to position SUBRA for Series A financing in 2025[^9^].
• Key Hiring Focus: While exact roles are unspecified, the emphasis on "low-cost manufacturing at scale" suggests recruitment in engineering, materials science, and production optimization.
• Strategic Impact of New Hires: Expanding the team enables SUBRA to advance its SUBRACABLE technology—a bundled-wire superconductor design targeting pan-European energy grids and fusion reactor magnets. This innovation aims to resolve scalability limitations of traditional flat-tape superconductors.
• Management Stability: No leadership changes are reported; the company continues leveraging its Technical University of Denmark roots alongside Novo Holdings’ strategic guidance.

Scaling Challenges Addressed
Recent team growth supports two critical objectives: (1) transitioning from lab-scale prototypes to industrialized production systems, and (2) meeting demand for high-current-capacity cables required for next-gen fusion projects like those pursued by Commonwealth Fusion Systems or Tokamak Energy.

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Sources

• About – SUBRA A/S
• Novo Holdings Partnership Announcement

+ PR Newswire Release

7 The Media Features and Publications

SUBRA A/S: Media Features and Public Engagement Post-EIC Accelerator Funding Danish deep-tech firm SUBRA A/S, a 2014 spin-off from the Technical University of Denmark, has gained recognition for its superconducting innovations since securing a €3.5 million EIC Accelerator grant in 2023, including €2.5 million in direct funding. The company specializes in high-temperature superconductors (HTS) for energy transmission, fusion power systems, and green hydrogen storage, leveraging patented surface modification technology.

Media Coverage and Publications

• State of Green: Highlighted SUBRA’s EIC Accelerator win and its role in developing the SUBRACABLE, a superconductor transmission cable designed to reduce copper usage by 99% compared to conventional grids while minimizing energy losses.
• Big Science Business Forum (BSBF) 2024: Listed SUBRA as an exhibitor at the Trieste event, emphasizing its production capabilities for nano-polished superconducting tapes and participation in fusion-energy research collaborations.

Conferences and Events

• BSBF 2024: Showcased SUBRA’s advancements in superconductor manufacturing at booth B17-B20, focusing on applications for accelerator magnets and neutron detection systems.
• Partnerships: Collaborates with EU projects like HyLICAL (green hydrogen liquefaction) through its expertise in superconductor-based cooling systems.

Leadership Outreach

CEO Anders Wulff—a former DTU associate professor—has driven public communication about SUBRA’s mission to enable zero-loss power grids. However, specific podcast or interview transcripts are not publicly documented. The company actively engages through technical conferences rather than mainstream media channels.

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Sources

• SUBRA wins EIC funding - State of Green
• Subra - Big Science Business Forum 2024
• Our partners - HyLICAL