1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. This initiative focuses on high-risk, high-potential projects that can significantly impact the market and contribute to the European economy. It provides funding in the form of blended finance, which combines grants and equity investments to help businesses scale their innovative solutions.

Funding Structure

The EIC Accelerator offers a unique funding structure that includes:

Purpose in the European DeepTech and Startup Ecosystem

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by fostering innovation and entrepreneurship. It aims to bridge the funding gap that often exists for innovative SMEs, particularly in sectors that require significant investment, such as clean energy, biotechnology, and advanced manufacturing. By providing financial support and mentorship, the EIC Accelerator enhances the capacity of companies to scale their technologies, thereby contributing to job creation and economic growth across Europe.

Supporting Scale-up and Private Sector Funding

The EIC Accelerator not only provides direct funding but also acts as a catalyst for attracting additional private sector investment. By demonstrating the viability of their innovations through the support of the EIC, companies can gain credibility, making them more appealing to private investors. The program also facilitates connections with venture capital firms and other funding sources, enhancing the overall investment landscape for European startups.

EIC Accelerator Winner: ALVUS SRL

Project Overview: Alvus

ALVUS SRL, an Italian company, is the recipient of the EIC Accelerator funding for its project "Alvus," which focuses on a complete biomethane set that converts agricultural byproducts into energy. This innovative concept aims to exploit agricultural residues effectively, providing a sustainable solution to energy generation while addressing waste management issues in the agricultural sector.

Technology Background

The Alvus project revolves around the principles of biomethane production, which involves anaerobic digestion of organic materials. This process breaks down agricultural byproducts—such as crop residues, manure, and food waste—into biogas, primarily composed of methane. The biogas can then be upgraded to biomethane through purification processes, making it suitable for various applications, including transportation fuel and energy generation.

The technology is particularly relevant in the context of the European Union's commitment to sustainability and reducing greenhouse gas emissions. By converting agricultural residues into a renewable energy source, Alvus not only provides an alternative to fossil fuels but also contributes to a circular economy by repurposing waste materials.

Project Goals and Impact

The Alvus project aims to establish a comprehensive system that facilitates the efficient production of biomethane, enhancing energy security and sustainability in the agricultural sector. By leveraging advanced technologies in anaerobic digestion and biogas upgrading, ALVUS SRL intends to create a scalable model that can be replicated across Europe, promoting the adoption of clean energy solutions.

In summary, the EIC Accelerator program significantly contributes to fostering innovation and entrepreneurship in Europe, exemplified by the success of ALVUS SRL with its Alvus project. Through blended finance, the program not only supports the development of cutting-edge technologies but also plays a crucial role in enhancing the overall investment landscape for innovative companies in the DeepTech sector.

2 The Funding Rounds

Financing Raised by ALVUS SRL

ALVUS SRL, an Italian biomethane project developer based in Bolzano, raised a total of $1.91 million prior to its acquisition. The primary sources of this financing included the EIC Accelerator (European Innovation Council), VORN Bioenergy, Italy’s Ministry of Economic Development, Invitalia, and Banca del Mezzogiorno – MedioCredito Centrale.

Funding Rounds: Timing and Amounts

• EIC Accelerator Grant (October 2023): ALVUS was selected for EIC Accelerator funding following its successful application at the October 5, 2022 cut-off. The company received a grant totaling €2.5 million in October 2023 as part of this highly competitive European funding initiative.
• Cumulative Funding: Across all rounds up until its acquisition, ALVUS raised approximately $1.91 million.

Investor Information

ALVUS attracted investment from both public and private sources: - EIC Accelerator: Provided significant non-dilutive grant funding as part of the Horizon Europe program.

• VORN Bioenergy: Initially an investor and later the acquirer.
• Italy Ministry of Economic Development
• Invitalia
• Banca del Mezzogiorno – MedioCredito Centrale

These investors contributed to both direct project development support and business expansion.

Company Valuations

There is no public disclosure regarding specific company valuations for ALVUS during its private rounds or at the time of acquisition.

Exit Events: Acquisition by VORN Bioenergy

In October 2023, ALVUS was acquired by VORN Bioenergy GmbH. This transaction involved VORN acquiring full share capital ownership in ALVUS along with several key projects under development in Northern Italy. Following this integration:

VORN launched its Italian subsidiary "VORN Bioenergy Italia srl," leveraging Alvus's portfolio and expertise to accelerate growth in Italy's biomethane sector.

The acquisition aligned with broader trends driven by Italy’s National Recovery and Resilience Plan (PNRR), which is substantially increasing national investments into biomethane production capacity.

There are no indications that ALVUS ever pursued or completed an IPO; instead, it exited through a strategic buyout by another industry player.

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Sources

• Alvus company information, funding & investors - Dealroom
• Alvus - Products, Competitors, Financials - CB Insights
• EIC Accelerator 5 October cut-off - European Innovation Council (PDF)
• Bioenergy Insight: VORN acquires Italian project developer Alvus
• D.CT - Deutsche Cleantech: Alvus S.r.l.

3 The Press Releases

ALVUS SRL: EIC Accelerator Winner Driving Biomethane Innovation from Agricultural Byproducts ALVUS SRL, an Italian cleantech company, secured EIC Accelerator funding in the October 5, 2022 cut-off. The company specializes in converting agricultural residues into biomethane through a proprietary end-to-end system, described as "a complete biomethane set" that transforms byproducts into renewable energy. The innovation aims to optimize the exploitation of agricultural waste while addressing energy sustainability challenges.

While specific details about patents, team updates, or post-funding partnerships are not publicly disclosed in available records, ALVUS’s selection highlights its potential for commercializing scalable solutions in the circular bioeconomy. The EIC Accelerator awarded up to €17.5 million per company through blended financing (grants and equity), suggesting ALVUS likely received significant backing for technology deployment.

No press releases or blog posts from alvus.it/ were identified through publicly indexed sources at this time. The lack of accessible social media announcements or website updates may reflect either non-public documentation or delays in post-award communications typical of early-stage deep-tech ventures.

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Sources

• EIC Accelerator winners and statistics October 2022 - Strata.team
• EIC Accelerator 5 October cut-off - European Innovation Council
• Latest EIC 2022 Accelerator: 78 winners Start-ups and SMEs

4 The Technology Advancements

Alvus S.r.l.: Current Capabilities and Advancements

Alvus S.r.l., an Italian biomethane plant developer based in Bolzano, has been a key player in the biomethane sector. Since receiving the EIC Accelerator funding on October 5, 2022, Alvus has made significant advancements, though detailed information on specific technological improvements or new features directly resulting from this funding is not readily available.

Current Capabilities

Alvus has successfully developed over ten biomethane projects, with capacities ranging from 500 to 1,000 sm³/h, equivalent to 45-90 GWh per year. These projects are primarily located in Northern Italy and benefit from Italy's National Recovery and Resilience Plan (PNRR), which aims to significantly increase biomethane production by 2026.

Advancements and Integration

In October 2023, Alvus was acquired by VORN Bioenergy, a leading project developer and biomethane producer. This acquisition marked a significant milestone in Alvus' journey, integrating its team and expertise into VORN Bioenergy Italia srl. This integration has enhanced VORN's position in the Italian biomethane market, leveraging Alvus' project pipeline and VORN's funding capabilities.

Technology and Market Presence

While Alvus has not publicly disclosed any new patents or scientific studies since the funding, their proprietary technology has been integral to their biomethane developments in Italy. The company's focus on sustainable energy production services, including mechanically stabilized earth for biogas plant construction, continues to support Italy's transition to greener energy.

Demonstrations and Pilots

There is no specific information available on Alvus demonstrating new technology through pilot projects or clinical trials. However, the company's integration into VORN Bioenergy has positioned it well to advance biomethane projects in Italy, potentially leading to future demonstrations of their technology in the market.

Patents and Publications

No recent patents or scientific publications directly attributed to Alvus S.r.l. have been reported since the EIC Accelerator funding. The company's emphasis remains on project development and growth within the biomethane sector.

Conclusion

Alvus S.r.l.'s capabilities and advancements are closely tied to its acquisition by VORN Bioenergy and the integration into VORN Bioenergy Italia. While specific technological improvements or new features are not detailed, Alvus' project pipeline and expertise continue to play a crucial role in Italy's biomethane industry.

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Sources:

• VORN acquires Italian project developer Alvus
• VORN Bioenergy launches Italian entity
• Alvus S.r.l.
• Alvus

5 The Partnerships and Customers

Alvus Srl: Recent Developments and Partnerships

Alvus Srl, an Italian biomethane project developer based in Bolzano, Italy, was founded in 2018. It has been successful in developing more than ten biomethane projects, with capacities ranging from 500 to 1,000 sm³/h, the equivalent of 45 to 90 GWh per year.

EIC Accelerator Funding

In October 2022, Alvus Srl submitted its Step 2 proposal for the EIC Accelerator funding and was later selected. However, the specific details of how the funding has impacted Alvus Srl's operations or new partnerships are not explicitly mentioned in available sources.

Acquisition by VORN Bioenergy

In October 2023, Alvus Srl was acquired by VORN Bioenergy GmbH, a leading project developer and biomethane producer. This acquisition marked a significant milestone for both companies, integrating Alvus into the VORN Group and enhancing VORN's presence in Italy's biomethane sector. Following this acquisition, VORN launched VORN Bioenergy Italia srl, with Christof Erckert, the founder of Alvus, becoming the Managing Director of VORN Bioenergy Italia.

Partners and Customers

Alvus Srl's investors include VORN Bioenergy, EIC Accelerator, Italy Ministry of Economic Development, Invitalia, and Banca del Mezzogiorno – MedioCredito Centrale. One notable partnership is with Ecomembrane S.p.A., which was initially a minority stakeholder in Alvus but sold its shares as part of an agreement with VORN Bioenergy. Ecomembrane is expected to become a preferred supplier of PVC membranes for VORN Bioenergy's projects in Italy.

New Relationships and Market Positioning

The integration with VORN Bioenergy positions Alvus (now part of VORN Bioenergy Italia) strongly in the Italian biomethane market. This partnership leverages VORN's extensive resources and expertise, enhancing Alvus' project development capabilities. The collaboration is aimed at supporting Italy's transition towards greener energy production, particularly through the development of biomethane projects.

Technology Advancements and Scaling

The acquisition and integration into the VORN Group are expected to accelerate Alvus' growth plans by combining VORN's funding capabilities with Alvus' project pipeline. This synergy is likely to enhance technological advancements and scaling in the biomethane sector, especially as Italy aims to increase biomethane production significantly by 2026.

Sources:

• VORN Bioenergy launches VORN Bioenergy Italia
• VORN acquires Italian project developer Alvus
• Alvus
• ECOMEMBRANE S.P.A. FINALIZES THE SELL OF THE SHARES
• 1H 2023 Results Presentation
• VORN Bioenergy acquires project developer Alvus
• Alvus S.r.l.

6 The Hiring and Company Growth

Alvus Srl: Post-EIC Accelerator Funding Developments

Alvus Srl, an Italian biomethane plant developer based in Bolzano, received EIC Accelerator funding in October 2022. Since then, the company has experienced significant changes, particularly with its acquisition by VORN Bioenergy in October 2023. Here are the key developments related to hiring, team growth, and management changes:

Current Headcount and Team Size

Specific details about Alvus's current headcount or team size are not publicly available. However, the acquisition by VORN Bioenergy has led to the integration of Alvus's team into VORN, which likely expands VORN's overall workforce in Italy.

Hiring Status

There is no explicit information on whether Alvus or VORN Bioenergy Italia is currently hiring. However, the establishment of VORN Bioenergy Italiaassistant is likely to create new opportunities in the future as the company continues to support Italy's transition to greener energy solutions.

Growth

Alvus has grown significantly by developing over ten biomethane projects in Italy, with capacities ranging from 500 to 1,000 Sm³/h, equivalent to 45 to 90 GWh per year. The integration with VORN Bioenergy further enhances this growth by leveraging VORN's extensive resources and expertise in the biomethane sector.

Recent Key Positions

While specific details about recent key hires are not available, Christof Erckert, the founder of Alvus, now serves as the Managing Director of VORN Bioenergy Italia. This leadership role signifies the strategic importance of Alvus's team in expanding VORN's operations in Italy.

Impact on Company Future

The integration of Alvus into VORN Bioenergy is expected to accelerate the development of biomethane projects in Italy, supporting the nation's ambitious plans to increase biomethane production tenfold by 2026. This synergy enhances VORN's position in the European biomethane market and supports Italy's transition to a more sustainable energy mix.

Management and Founding Team Changes

Major changes include the acquisition by VORN Bioenergy, which has resulted in Alvus's founder, Christof Erckert, taking on a leadership role within VORN Bioenergy Italia. This transition marks a significant milestone in Alvus's journey, aligning with VORN's European expansion strategy.

Sources

• VORN acquires Italian project developer Alvus
• VORN Bioenergy launches Italian entity
• Alvus - Products, Competitors, Financials, Employees
• Alvus S.r.l.

7 The Media Features and Publications

Overview of Alvus SRL

Alvus SRL, an Italian company based in Bolzano, was a leading project developer in the biomethane and biogas sector. It was founded in 2018 and was involved in the development of numerous biomethane projects across Italy. The company successfully developed more than 10 biomethane projects, ranging in capacity from 500 to 1,000 sm³/h, equivalent to 5-10 MWth gas and 45-90 GWh per year.

In October 2023, Alvus was acquired by VORN Bioenergy, a Germany-based leading project developer and biomethane producer. This acquisition marked a significant expansion for VORN into the Italian market and further enhanced its capabilities in biomethane production.

Media Features and Publications

Alvus SRL has been featured in several media outlets primarily due to its acquisition by VORN Bioenergy and its role in Italy's biomethane sector:

• Bioenergy International: Covered the acquisition of Alvus by VORN Bioenergy, highlighting Alvus's project pipeline and the strategic implications for VORN's European expansion.
• Bioenergy Insight: Provided insights into Alvus's project development capabilities and the strategic alignment with Italy's National Recovery and Resilience Plan (PNRR).
• Bioenergy News: Reported on VORN's launch of VORN Bioenergy Italia following the acquisition of Alvus, emphasizing the company's role in advancing Italy's biomethane industry.

Podcasts or Interviews

There is no specific information available regarding podcasts or interviews conducted by the team of Alvus SRL. However, Christof Erckert, the founder of Alvus and managing director of VORN Bioenergy Italia, has commented on the integration and future plans with VORN Bioenergy.

Conference and Fair Visits

Details about Alvus SRL's participation in conferences or fairs are not specified in available sources. However, given its involvement in the biomethane sector, it is likely that the company participated in industry-specific events before its acquisition.

Involvement in Events

Alvus SRL's involvement in events would have been primarily related to biomethane and biogas conferences, given its focus on sustainable energy production. Following its acquisition by VORN Bioenergy, Alvus's activities are now aligned with VORN's broader strategy in the European biomethane market.

EIC Accelerator Funding

Alvus SRL was an EIC Accelerator winner, receiving funding in October 2022. This support likely contributed to its project development and growth in the biomethane sector before being acquired by VORN Bioenergy.

Sources: - VORN Bioenergy acquires project developer Alvus

• VORN Bioenergy launches Italian entity
• Alvus - Products, Competitors, Financials, Employees
• VORN acquires Italian project developer Alvus
• Alvus's Integration and VORN Bioenergy Italia