1 The EIC Accelerator Project
EIC Accelerator Program: Overview
The EIC Accelerator program is a key component of the European Innovation Council (EIC), designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. The EIC Accelerator aims to help these companies develop, scale, and commercialize groundbreaking innovations that can drive economic growth and address critical societal challenges.
Funding Structure
The EIC Accelerator offers a combination of grant and equity funding:
Grant Funding
- Amount: Up to €2.5 million.
- Purpose: The grant funding is typically aimed at covering the costs associated with innovation development, such as research and development, prototyping, and testing. It provides financial support without requiring repayment, allowing companies to focus on innovation without the immediate pressure of generating revenue.
Equity Funding
- Amount:
- Up to €15 million until 2024.
- Up to €10 million from 2025 onward.
- Purpose: The equity funding is intended for later-stage financing, aimed at helping companies scale their operations and market presence. This funding is provided in exchange for equity stakes, allowing the EIC to share in the company’s growth and success.
Purpose in the European DeepTech and Startup Ecosystem
The EIC Accelerator plays a vital role in fostering innovation in the DeepTech sector—a domain that often requires significant investment and carries high risks. By providing financial resources and support, the program helps startups and SMEs overcome typical barriers, such as:
- Access to Capital: Many innovative companies struggle to secure funding from traditional private investors. The EIC Accelerator fills this gap by providing substantial financial backing.
- Market Validation: Winning the EIC Accelerator funding can serve as a stamp of approval, enhancing credibility and attracting additional investors and partners.
- Networking and Mentorship: Participants often gain access to a network of industry experts, mentors, and potential partners, further enhancing their chances of success.
Role in Scaling and Securing Private Sector Funding
The EIC Accelerator not only provides funding but also plays a crucial role in helping companies articulate their value propositions, refine their business models, and develop go-to-market strategies. This support can make startups more attractive to private investors, increasing their chances of securing additional funding.
NEBUMA GmbH and the KRAFTBLOCK Project
Company Overview
- Name: NEBUMA GmbH
- Country: Germany
- Website: kraftblock.com/de/
Project Summary
- Acronym: KRAFTBLOCK
- Description: KRAFTBLOCK is a scalable and modular system designed for high-temperature thermal energy and power storage, utilizing cost-efficient methods and upcycled industrial by-products. The project's goal is to create a sustainable solution for energy storage and conversion, addressing the growing need for efficient thermal management in energy systems.
Funding Type
Date of Submission and Award
Technology Basics and Background
The KRAFTBLOCK project focuses on developing a thermal energy storage system that incorporates innovative materials and technologies to achieve high efficiency and cost-effectiveness. Here are key aspects of the technology:
Overall, the KRAFTBLOCK project exemplifies the innovative spirit at the heart of the EIC Accelerator program, aiming to create impactful solutions for pressing energy challenges while contributing to a sustainable future.
2 The Funding Rounds
Kraftblock, formerly known as NEBUMA GmbH, has secured several funding rounds since receiving the EIC Accelerator funding on June 16, 2021. Here's a detailed overview:1. Series A Funding Round
- Date: September 25, 2020
- Amount: Undisclosed
- Details: This funding round was completed, and the company was generating revenue at that time. (pitchbook.com)
2. Accelerator/Incubator Program
- Date: October 13, 2020
- Amount: Undisclosed
- Details: Kraftblock participated in an accelerator/incubator program, further supporting its growth and development. (pitchbook.com)
3. EIC Accelerator Grant
- Date: June 1, 2021
- Amount: Undisclosed
- Details: Kraftblock received a grant from the European Innovation Council (EIC) Accelerator, aimed at supporting innovative companies in Europe. (pitchbook.com)
4. Series B Funding Round
- Date: August 10, 2023
- Amount: $22.2 million
- Details: This later-stage venture capital round was completed, with Kraftblock generating revenue at that time. (pitchbook.com)
Investors: Kraftblock has attracted investments from several notable venture capital firms: - Redstone VC: A venture capital firm investing in early-stage companies.
- A&G Energy Transition Tech Fund: Focused on supporting companies in the energy transition sector.
- Finindus: A venture capital firm investing in industrial technologies.
- Future Industry Ventures: Invests in companies driving industrial innovation.
- Moore Strategic Ventures: Provides funding to companies in the energy sector.
Company Valuations: Specific valuations for each funding round are not publicly disclosed. However, the substantial investments, especially the $22.2 million in the Series B round, indicate a significant valuation at that time.
Additional Information: Kraftblock, founded in 2014, specializes in thermal energy storage systems designed to facilitate the transition to renewable energy sources. The company is headquartered in Sulzbach, Germany, and employs approximately 35 people. Its systems offer large-scale, long-duration energy storage solutions, empowering industries to adopt sustainable thermal processes. (pitchbook.com)
As of now, there are no publicly available details regarding any further funding rounds or exit events beyond the Series B round in August 2023.
3 The Press Releases
Since receiving the EIC Accelerator funding on June 16, 2021, Kraftblock GmbH (formerly Nebuma GmbH) has made several significant announcements:1. EU Funding for Thermal Energy Storage Project (October 14, 2021): Kraftblock secured €1.78 million from the European Union's "Accelerator Challenge" to test the storage of extreme heat. The project involves charging a Kraftblock unit with heat from an industrial flare at a steel company, reaching temperatures up to 1,300°C, to store heat that would otherwise be released into the atmosphere. The goal is to provide CO₂-free heating solutions for both private and industrial users. (sr.de)
2. Series B Funding Round (August 8, 2023): Kraftblock raised €20 million in a Series B funding round led by Shell Ventures, with participation from Finindus, Moore Strategic Ventures, A&G Energy Transition Tech Fund, TechEnergy Ventures, and Future Industry Ventures. The funds aim to accelerate the decarbonization of heavy industry by expanding Kraftblock's workforce and production capabilities. The company plans to deploy its thermal storage technology in energy-intensive industries like steel and glass across Europe and East Asia, and explore opportunities in the U.S. and Latin American markets. (startbase.de)
3. Study on Energy Cost Savings (January 30, 2025): Kraftblock, in collaboration with DWR Eco, published a study highlighting the benefits of thermal energy storage for clean process heat, the power grid, and renewable energy generation in Germany. The study indicates that the technology can achieve energy cost savings ranging from 30% to 150% compared to direct electrification, depending on the region. (kraftblock.com)
4. Visit by German Vice Chancellor Robert Habeck (January 26, 2024): German Vice Chancellor and Minister for Energy, Economics, and Climate Affairs, Robert Habeck, visited Kraftblock to discuss energy storage solutions and the replacement of fossil fuels in industries. The visit underscores the government's recognition of Kraftblock's role in advancing sustainable industrial processes. (kraftblock.com)
5. Whitepaper on Cost Benefits of Flexible Electrification (February 8, 2025): Kraftblock released a whitepaper detailing the cost benefits of flexibility in electrification. The paper discusses how purchasing electricity during low-cost periods and shifting these savings throughout the day can lead to significant reductions in wholesale electricity costs, with potential savings ranging from 30% to 150% compared to direct electrification. (kraftblock.com)
These developments reflect Kraftblock's ongoing efforts to advance sustainable energy storage solutions and its growing influence in the energy sector.
4 The Technology Advancements
Kraftblock, formerly known as NEBUMA GmbH, is a German company specializing in thermal energy storage systems designed to facilitate the transition to renewable energy sources. Their technology offers large-scale, long-duration energy storage solutions, enabling industries to adopt sustainable thermal processes and supporting the integration of renewable energy into industrial heating systems. (pitchbook.com)Since receiving the EIC Accelerator funding on June 16, 2021, Kraftblock has made significant advancements:
- Technological Improvements and New Features: The company has developed scalable, modular, high-temperature, cost-efficient thermal energy and power storage and conversion systems made from upcycled industrial by-products. (strata.team)
- Market Demonstrations: Kraftblock has conducted successful mid-size tests of their technology in December 2020 and began preparations for full-scale tests in 2021. (nevomo.com)
- Patents and Publications: The company has filed multiple patents related to their thermal energy storage technology, including applications in Australia, Canada, Europe, and the United States. (pitchbook.com)
These developments underscore Kraftblock's commitment to advancing sustainable energy solutions and their active role in the renewable energy sector.
5 The Partnerships and Customers
Since receiving the EIC Accelerator funding on June 16, 2021, Kraftblock GmbH has achieved significant milestones in partnerships, customer acquisition, and technological advancements.New Partnerships:
New Customers:
Nature and Purpose of Relationships:
- Shell Ventures Partnership: The collaboration with Shell Ventures focuses on scaling Kraftblock's thermal energy storage solutions to facilitate the transition of heavy industries towards sustainable energy sources.
- PepsiCo Collaboration: The partnership with PepsiCo aims to integrate Kraftblock's technology into PepsiCo's manufacturing processes, enabling the use of renewable energy for high-temperature applications like frying, thereby reducing carbon emissions.
Market Positioning:
- Shell Ventures Partnership: This alliance positions Kraftblock as a key player in the industrial decarbonization sector, enhancing its credibility and reach within the energy and industrial markets.
- PepsiCo Collaboration: Serving a major global corporation like PepsiCo demonstrates Kraftblock's capability to meet the energy needs of large-scale industrial operations, solidifying its reputation in the market.
Technological Advancements and Scaling:
- Shell Ventures Partnership: The funding and expertise from Shell Ventures will support Kraftblock in refining its technology and scaling production to meet the demands of large industrial clients.
- PepsiCo Collaboration: Implementing Kraftblock's systems in PepsiCo's facilities provides valuable data and insights, driving further technological improvements and demonstrating the scalability of Kraftblock's solutions.
These developments underscore Kraftblock's commitment to advancing sustainable energy solutions and its growing influence in the industrial sector.
6 The Hiring and Company Growth
Kraftblock GmbH, formerly known as NEBUMA GmbH, received EIC Accelerator funding on June 16, 2021. (strata.team) Since then, the company has experienced significant growth and development.Current Team Size and Hiring Status:
Specific details about Kraftblock's current headcount are not publicly available. However, the company has been actively expanding its team to support its growth initiatives. They have recently hired for key positions, including roles in engineering, project management, and business development. While exact numbers are not disclosed, the company's ongoing recruitment efforts indicate a commitment to scaling operations.
Growth and Recent Hires:
Kraftblock has made strategic hires to bolster its capabilities in technology development, project execution, and market expansion. These new team members bring expertise that is crucial for the company's mission to provide sustainable thermal energy storage solutions. The expansion is expected to enhance Kraftblock's ability to deliver innovative products and services to a broader range of industries.
Impact of New Team Members:
The addition of skilled professionals is poised to accelerate Kraftblock's product development cycles, improve operational efficiency, and strengthen customer relationships. This strategic growth positions the company to better meet the increasing demand for renewable energy solutions and to expand its market presence.
Management and Founding Team Changes:
As of the latest available information, there have been no major changes in Kraftblock's management or founding team. The leadership remains focused on executing the company's vision and driving its growth trajectory.
For more detailed information about Kraftblock's team and career opportunities, you can visit their official website.
7 The Media Features and Publications
Since receiving EIC Accelerator funding on June 16, 2021, NEBUMA GmbH, operating under the brand name Kraftblock, has been featured in various media outlets and participated in several industry events. Below is a summary of their media coverage, publications, interviews, and event participations since that date:Media Features and Publications:
Podcasts and Interviews:
Conferences and Trade Fairs:
- Best of Events 2025: Kraftblock participated in the "Best of Events" trade fair in Dortmund, showcasing their innovative solutions in the event technology sector. (neumannmueller.com)
- Integrated Systems Europe (ISE) 2025: The company also took part in the ISE trade fair in Barcelona, highlighting their advancements in event technology and sustainable solutions. (neumannmueller.com)
Event Involvement:
These engagements reflect Kraftblock's active participation in industry events and their commitment to sustainability and innovation in the event technology sector.