1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC (European Innovation Council) Accelerator program is a flagship initiative designed to support innovative startups and small to medium-sized enterprises (SMEs) in Europe. This program aims to foster the growth of high-impact and disruptive innovations, particularly in the fields of deep tech and advanced technologies. The EIC Accelerator provides a combination of grant and equity funding, enabling companies to scale their operations, develop new products, and ultimately contribute to the European economy.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers a blended finance model that includes both grant funding and equity investment. The grant component can be as high as €2.5 million, which is aimed at covering the costs associated with the development and demonstration of innovative projects. This grant is particularly beneficial for early-stage companies that require financial support to validate their technologies and prepare for market entry.

In addition to grants, the EIC Accelerator also provides equity investments. Until 2024, the equity funding can reach up to €15 million, while from 2025 onward, this amount is capped at €10 million. This funding mechanism is designed to bridge the gap between public funding and private investment, helping companies secure sufficient financial resources to scale their operations effectively.

Purpose of the EIC Accelerator

The primary purpose of the EIC Accelerator is to strengthen Europe’s position in the global innovation landscape. By supporting deep tech and high-growth startups, the program seeks to enhance competitiveness, drive economic growth, and create jobs. The EIC Accelerator plays a crucial role in helping companies navigate the challenging landscape of funding, guiding them through the process of attracting private investment while also providing essential public funding.

Role in Scaling and Funding

The EIC Accelerator not only focuses on financing but also provides strategic support to its beneficiaries. This includes mentoring, networking opportunities, and access to a vast ecosystem of investors and industry experts. The program assists companies in refining their business models and preparing for subsequent funding rounds, thereby increasing their chances of success in securing private sector investment. The combination of financial backing and strategic guidance positions companies to scale effectively, making them attractive propositions for investors.

Case Study: TM System Finland Oy and SuperDryer

TM System Finland Oy is an EIC Accelerator winner whose project, known as SuperDryer, exemplifies the program's impact on innovative solutions within the European landscape. The SuperDryer project focuses on developing a breakthrough clean fiber drying technology aimed at reducing emissions in various sectors, including paper production, urban sludge processing, and clothes recycling.

Project Overview: SuperDryer

The SuperDryer technology represents a significant advancement in drying processes, which are traditionally energy-intensive and contribute to high levels of emissions. By leveraging innovative drying techniques, SuperDryer aims to minimize environmental impact while improving energy efficiency. The project addresses the critical need for sustainable practices in industries that rely heavily on drying processes, such as paper manufacturing and textile recycling.

Technology Basics and Background

The SuperDryer technology is rooted in advanced thermal and mechanical engineering principles that optimize the drying process. Unlike conventional methods that often utilize high temperatures and significant energy inputs, the SuperDryer employs a more sustainable approach. It harnesses low-temperature drying techniques that not only reduce energy consumption but also minimize emissions associated with the drying of materials.

The technological basis of SuperDryer involves the integration of smart sensors and control systems that monitor moisture levels in real-time, ensuring optimal drying conditions. This intelligent approach allows for significant reductions in energy usage and emissions, aligning with the broader goals of sustainability and environmental responsibility.

Furthermore, the SuperDryer technology has applications across various sectors, making it a versatile solution for addressing the challenges of waste management and resource recovery. By targeting industries that contribute to significant environmental footprints, the SuperDryer project aligns with EU sustainability goals and addresses pressing global challenges.

Conclusion

The EIC Accelerator program stands as a vital pillar in Europe’s innovation ecosystem, providing essential funding and support to startups and SMEs. By focusing on projects like TM System Finland Oy's SuperDryer, the EIC Accelerator not only catalyzes technological advancement but also drives progress toward sustainable practices in key industries. This program embodies Europe's commitment to fostering innovation and creating a greener future, reinforcing the significance of deep tech in addressing global challenges. For more information about TM System Finland Oy and its groundbreaking project, visit tmsystems.com.

2 The Funding Rounds

Financing Raised

TM System Finland Oy, a cleantech company specializing in sustainable industrial air and drying solutions, secured significant funding through the European Innovation Council (EIC) Accelerator programme. In October 2021, TM Systems was awarded a €2.5 million grant to support the commercial launch of its innovative SuperDryer™ product and emission-control system Zero-Ex®. These solutions aim to increase biomass value while eliminating emissions and improving energy efficiency.

Funding Rounds

The primary publicized funding round since TM Systems’ EIC Accelerator win is the EIC grant. No other major equity rounds or venture capital investments have been reported for TM System Finland Oy from 2021 through April 2025 in available sources. Information on additional private or institutional investment rounds is not documented in public databases or recent industry summaries.

Timing and Amount of Funding Rounds

• October 2021: €2.5 million non-dilutive grant from the European Innovation Council (EIC) Accelerator programme.
• No subsequent funding rounds (Series A, B, C) or new disclosed financing events are recorded as of April 2025.

Investor Information

The sole named investor in recent years is the European Innovation Council via its Horizon Europe framework programme. The EIC provided both financial support (grant component finalized; capital/equity component subject to further due diligence if applicable), along with access to coaching and mentoring services.

There is no evidence of involvement from venture capital funds, angel investors, or corporate backers during this period.

Company Valuations

No publicly available information exists regarding formal company valuations for TM System Finland Oy following their EIC Accelerator award. As they pursued growth primarily through revenue financing—emphasizing profitable sales expansion rather than repeated equity fundraising—valuation data typical of VC-backed startups has not been disclosed by either the company or third-party analytics providers.

Exit Events: IPOs, Buyouts & Acquisitions

There are no records indicating an initial public offering (IPO), acquisition/buyout event, merger activity, or other exit-related transactions involving TM System Finland Oy between October 2021 and April 2025 according to all available business registries and news coverage reviewed during this timeframe.

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Summary Table

Date	Round/Funding Type	Amount	Investors	Notes
Oct 2021	Grant	€2.5 million	European Innovation Council	For SuperDryer™/Zero-Ex® commercialization

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Additional Context

• The company’s strategy since winning EIC support has focused on expanding sales channels internationally using "profitable revenue financing" rather than seeking recurring external equity investment.
• Recognition includes industry awards for sustainability innovation but these do not include direct financial contributions beyond EU grants.

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Sources

• TM Systems company information - Dealroom
• Two Turku-based companies receive multi-million funding from EU Commission - Business Turku
• TM Systems company profile - Crustdata
• TM Systems recognitions page
• Strategy - TM Systems
• TM Systems information & investors - Winterthur Startup City

3 The Press Releases

TM System Finland Oy: A Leader in Sustainable Solutions

TM System Finland Oy, a renowned company based in Finland, has been a pioneer in developing innovative technologies that focus on energy efficiency and emission reduction. Since receiving EIC Accelerator funding in October 2021, the company has made significant strides in advancing sustainable solutions across various industries.

Technology Advancements

One of the key technologies developed by TM System Finland Oy is the SuperDryer(tm), a hybrid dryer designed to process wet biomass into dry, high-purity materials efficiently. This system harnesses waste heat and operates on renewable energies, making it a crucial component in achieving net-zero emissions. The SuperDryer(tm) is capable of turning the drying of market pulp, recycled pulp, sludge, and recycled textile fibers into an emission-free process that consumes less energy.

Another significant innovation is the Zero-Ex(r) technology, a patented system that enables the closed recirculation of process air, minimizing emissions and maximizing energy efficiency. Zero-Ex(r) is the first industrial-scale closed-loop system to capture airborne emissions, gases, CO2, odor, and visible vapor from industrial exhaust air. It not only solves industrial air pollution challenges but also provides remarkable energy capturing possibilities and water savings.

Partnerships and Collaborations

TM System Finland Oy has engaged in strategic partnerships to enhance its global presence and impact. For instance, in 2012, the company announced a strategic cooperation with GreenStream to expand into the Chinese energy efficiency market. This partnership aimed to accelerate the implementation of TM Systems' solutions in China, leveraging GreenStream's expertise in carbon asset management and energy efficiency projects.

Awards and Recognitions

The company received the Pentti Malaska Futures Award in 2023 for its groundbreaking Zero-Ex(r) emission capture technology. This award recognizes research-based and visionary innovations contributing to a more sustainable global future.

EIC Funding and Development

The EIC Accelerator funding received by TM System Finland Oy in October 2021 has been instrumental in supporting the development and commercialization of its innovative technologies. This funding has enabled the company to advance projects like the SuperDryer(tm), which is designed to transform the drying process into an emission-free operation.

Current Activities and Press Releases

TM Systems, the parent company of TM System Finland Oy, regularly updates its news section with developments in sustainable solutions, including participation in industry events and the launch of new technologies. The company's focus on sustainability and efficiency is highlighted through its involvement in projects such as the SuperDryer(tm) and Zero-Ex(r) systems, which are revolutionizing how industries manage energy and emissions.

Sources:

• News - TM Systems
• News - Page 2 of 8 - TM Systems
• Press release | University of Turku
• Pentti Malaska Futures Award to TM System Finland Oy
• GreenStream and TM System Finland Oy announce strategic cooperation
• Technology from Turku solves industrial energy problems around the world
• Two Turku-based companies receive multi-million funding from the EU Commission

4 The Technology Advancements

TM System Finland Oy: Current Capabilities and Advancements

TM System Finland Oy is a prominent developer and supplier of industrial air, drying, and emission control systems, primarily serving the paper, board, tissue, and other industries. Since receiving the European Innovation Council (EIC) Accelerator funding on October 6, 2021, the company has made significant advancements in technology and sustainability.

Current Capabilities

• Sustainability and Technology: TM System Finland Oy focuses on developing cutting-edge technologies to enhance energy efficiency, emission control, and the smart utilization of biomass across various industries. Their product development activities are centered on customer needs, ensuring solutions that address global market demands.
• Zero-Ex Technology: The company has developed the Zero-Ex emission capture technology, a patented, industrial-scale closed-loop re-circulation system. This technology captures airborne emissions, gases, CO2, odor, and visible vapor from industrial process exhaust air, providing controlled air cleaning and sustainable utilization of captured gases.

Advancements Since EIC Funding

• Funding and Recognition: In addition to the EIC funding, TM System Finland Oy received significant funding from the EU's Horizon Europe programme, acknowledging its innovative and globally impactful projects. The company also received the Pentti Malaska Futures Award for its Zero-Ex technology, highlighting its contribution to sustainability.
• Market Presence: TM Systems has continued to deliver projects efficiently, maintaining profitability and contributing positively to the Finnish economy. Their order backlog has shown positive movement, indicating strong market presence and future growth potential.
• Technological Improvements: The company's ongoing projects focus on waste and biomass recycling, as well as carbon capture, reflecting continuous innovation and improvement in its technologies.

Demonstrations and New Features

• Technology Demonstration: TM System Finland Oy has not explicitly reported on specific customer demonstrations or pilots since the EIC funding. However, their focus on customer needs suggests that technological advancements are being integrated into market solutions.
• New Patents and Studies: There is no recent information available on new patent filings or scientific studies published by the company. However, their ongoing research and development activities suggest continued innovation in sustainability and emission control technologies.

Conclusion

TM System Finland Oy has been at the forefront of developing sustainable industrial solutions, leveraging significant funding and recognition for its groundbreaking technologies like Zero-Ex. The company's commitment to innovation and market relevance positions it well for future growth and technological advancements in the field of emission control and sustainability.

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Sources: - Season's Greetings and Updates from 2023

• TM Systems Sustainability Report 2023
• TM System Finland Oy - Development Aid
• Two Turku-based companies receive multi-million funding from the EU Commission
• Pentti Malaska Futures Award to TM System Finland Oy

5 The Partnerships and Customers

TM System Finland Oy: Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding Since securing EIC Accelerator funding in October 2021, TM System Finland Oy has expanded its partnerships and customer base, leveraging its energy-efficient technologies to address global industrial challenges. Below is a detailed analysis of their collaborations and market positioning:

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Key Partnerships

• GreenStream Network: A strategic partnership established in 2012 with GreenStream Network focused on deploying energy efficiency projects in China using an ESCO (Energy Service Company) model. This collaboration aimed to finance TM Systems’ solutions through energy savings generated at client sites. While the partnership predates the EIC funding, it remains foundational for scaling in Asian markets.
• Microtec: Listed as a partner on System TM’s website (though not explicitly under TM System Finland Oy), Microtec represents an international collaboration in process technology.

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Recent Customers and Projects

• CH-Bioforce: In November 2024, TM Systems delivered its industrial-scale SuperDryer™ to CH-Bioforce’s biomass processing plant in Southwest Finland. The dryer processes 35,000 tons of wet biomass annually into high-purity materials for textiles and cosmetics industries. This project was directly supported by EIC Accelerator funding awarded in 2022.
• Undisclosed Global Clients: The company’s Turku-based test facility serves clients across multiple continents, enabling tailored solutions for raw material drying and air treatment optimization.

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Nature of New Relationships

• EIC-Funded Collaborations: Post-2021 EIC funding enabled full-scale commercialization of SuperDryer™ technology, fostering direct engagements with biomass processors like CH-Bioforce. These relationships emphasize joint R&D to refine drying parameters and integrate waste heat recovery.
• Academic/Industrial Networks: The test facility collaborates with researchers and students to explore new applications for Zero-Ex air treatment systems, enhancing carbon dioxide recovery capabilities.

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Market Positioning Through Partnerships

TM System Finland Oy now positions itself as a leader in circular economy solutions for heavy industries:

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Technology Advancements from Collaborations

• _SuperDryer™ Scaling_: Industrial deployments validated the hybrid dryer’s retrofit capabilities, allowing integration into existing plants without major structural changes.
• _Zero Ex Innovations_: Client feedback from diverse sectors drives iterative improvements in dust removal efficiency and carbon capture performance at the Turku test site.

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Sources Used

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6 The Hiring and Company Growth

TM System Finland Oy: Growth and Development

TM System Finland Oy, a Finnish company specializing in industrial air and drying solutions, received the EIC Accelerator funding in October 2021. Since then, the company has continued to focus on sustainable production solutions, contributing to its growth and expansion.

Current Headcount and Team Size

As of the latest available information, TM System Finland Oy employs a global team of 90 professionals. This includes various roles such as CEO, Sales Director, Sustainability Specialist, and Project Director, among others.

Hiring and Team Growth

There is no specific information available about whether TM System Finland Oy is currently hiring. However, the company's focus on a global team suggests an ongoing commitment to talent acquisition and team growth.

Key Positions and Recent Hires

The company's management team includes key positions such as:

• Markus Hallapuro, CEO
• Larri Fonsén, Sales Director
• Elina Ranta, Sustainability Specialist
• Jani Korvela, Project Director
• Riitta Leppämäki, Admin Manager
• Aleksi Hidén, SuperDryer™ Specialist.

These roles highlight the company's emphasis on both technical expertise and sustainability, indicating a strategic approach to growth and innovation.

Growth and Scaling

The EIC Accelerator funding has likely facilitated TM System Finland Oy's ability to scale and grow by investing in research and development, expanding its product offerings, and enhancing its global presence. However, specific details on the company's growth rate or new initiatives since receiving the funding are not publicly available.

Impact of New Team Members

The addition of new team members, particularly in specialized roles like sustainability and project management, underscores TM System Finland Oy's commitment to sustainable practices and project execution. These new members help the company align with global environmental standards and improve operational efficiency, which are crucial for scaling and expanding into new markets.

Management and Founding Team Changes

There is no recent information available regarding major changes in the management or founding team of TM System Finland Oy since the EIC Accelerator funding.

Sources

• TM Systems | Industrial air and drying solutions
• Contact us - TM Systems
• About us - TM Systems
• TM System Finland Oy Management Team | Org Chart - RocketReach

7 The Media Features and Publications

TM System Finland Oy: Media Presence and Industry Engagement Post-EIC Accelerator Funding While specific media features or interviews directly naming TM System Finland Oy could not be identified in publicly available sources, the company maintains an active presence in industrial collaborations and sector-specific events. Below is a synthesis of their engagements based on available data:

Event Participation & Conferences

• Forest-Based Industries Event (2024): TM Systems presented sustainable technologies for raw material optimization at the Finnish Forest Product Engineers’ Association event, emphasizing CO₂ reduction and circular economy solutions.
• SuperDryer™ Test Facility Collaboration: Hosted an excursion with BioDemo and KiertoaSuomesta projects to showcase pilot-scale drying solutions for bioeconomy applications.

Strategic Partnerships

• GreenStream Network Collaboration: Partnered to expand energy efficiency projects in China, leveraging ESCO financing models to reduce industrial energy consumption. This 2012 initiative demonstrated early cross-border collaboration but remains part of their operational history.
• EHEDG Membership: Joined the European Hygienic Engineering and Design Group to advance food safety standards through improved drying systems.

Operational Milestones

• SuperDryer™ Industrial Deployment: Scaled hybrid dryer technology for biomass processing, delivering a system capable of processing 35,000 tons annually at a Finnish plant (operational since October 2024).
• Shanying PM17 Project: Successfully commissioned high-efficiency paper production lines in China with Shanying International (October 2023).

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Sources

• Enhancing Paper Mill Efficiency with Dryer Section Ventilation Audits
• News - Page 2 of 8 - TM Systems
• GreenStream and TM System Finland Oy Announce Strategic Cooperation

+ Sustainable Technologies for Intelligent Raw Material Use

Note: No podcasts or direct media citations were found. The company primarily communicates updates through its website.