1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The EIC Accelerator program is a key initiative of the European Innovation Council (EIC), aimed at supporting small and medium-sized enterprises (SMEs) and startups that are developing groundbreaking innovations. Designed to foster the growth of European DeepTech, the program provides funding and support to companies working on high-risk, high-potential projects. It primarily targets those with ambitious plans that could significantly impact the market and society.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers two primary types of funding: grants and equity investments.

Purpose of the EIC Accelerator

The EIC Accelerator plays a crucial role in the European startup ecosystem by bridging the financing gap that many innovative companies face in their growth journey. It not only provides essential financial resources but also offers mentoring, networking opportunities, and access to a broad support system. This program aims to enhance the competitiveness of European startups, particularly in the DeepTech sector, by enabling them to scale rapidly and access private funding more effectively.

Role in Scaling Companies

By easing the initial burdens of scaling, the EIC Accelerator helps companies demonstrate their potential to private investors. The combination of grant funding and equity investment allows startups to refine their technologies and business models, making them more attractive to venture capitalists and other private sector investors. This support is particularly vital for companies in the DeepTech domain, where innovation cycles can be lengthy and capital-intensive.

Case Study: CHAINCRAFT BV and the CircularChain Project

Company Overview: CHAINCRAFT BV is a Netherlands-based company focused on sustainable solutions in the field of biochemistry. The company has developed an innovative approach to producing medium chain fatty acids (MCFAs), which are essential components in numerous applications, ranging from food and cosmetics to pharmaceuticals.

Project Description: The EIC Accelerator project, known as CircularChain, involves the development of a full-scale plant dedicated to the production of sustainable medium chain fatty acids. The project aims to create an efficient and environmentally friendly manufacturing process that leverages organic waste materials, thereby contributing to a circular economy.

Technology Background: The technology underpinning CircularChain revolves around the conversion of organic waste into valuable chemical products. By utilizing advanced fermentation techniques, CHAINCRAFT BV is able to transform various types of organic waste into MCFAs. This process not only reduces waste but also minimizes the reliance on fossil fuels and conventional agricultural practices, presenting a more sustainable alternative.

The innovative nature of CircularChain lies in its ability to integrate waste management with chemical production, paving the way for a more sustainable industrial ecosystem. The project is aligned with broader EU goals of sustainability and environmental responsibility, making it a prime candidate for EIC Accelerator support.

Conclusion

The EIC Accelerator program serves as a vital mechanism for fostering innovation within the European DeepTech landscape. By offering substantial financial support in the form of grants and equity, it empowers companies like CHAINCRAFT BV to scale their innovative projects effectively. The CircularChain project exemplifies how targeted funding can drive sustainable practices and contribute to a circular economy, ultimately benefiting not just the companies involved but society as a whole.

2 The Funding Rounds

Financing Raised

ChainCraft BV, a Dutch company focused on producing circular chemicals from food waste through fermentation technology, has raised a total of approximately $11.05 million (about €11 million) over two disclosed funding rounds since its founding in 2010.

Funding Rounds: Timing and Amounts

The available data identifies two key funding rounds:

Seed Round: March 10, 2015

Amount: Not publicly disclosed

Series A: September 6, 2022

Amount: $11.05 million (approximately €11 million)

The Series A round was explicitly intended to finance the construction of ChainCraft’s first industrial-scale plant and to accelerate growth at its Amsterdam demo facility.

Investor Information

ChainCraft’s Series A round involved both new and returning investors:

• Lead Investor: Convent Capital (specifically via the Agri Food Growth Fund)
• Other Participants: SHIFT Invest, Horizon 3 (an investor since at least 2012), and Participatiefonds Duurzame Economie Noord-Holland (PDENH). Existing investors have continued their support through multiple rounds.

No detailed information on additional or previous investors prior to these funds is currently available.

Company Valuations

Publicly accessible sources do not disclose specific valuation figures for ChainCraft BV during any funding round. The reported data only confirms the amount raised without naming company valuations.

Exit Events

There are no records of exit events such as an IPO, buyout, or acquisition involving ChainCraft BV up to May 2025. The company remains privately held and continues to expand operations using capital from recent fundraising efforts.

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Sources

• Convent leads €11m investment round in circular scale-up Chaincraft
• ChainCraft Stock Price, Funding, Valuation, Revenue & Financials - CB Insights
• Funding of ChainCraft by Convent Capital - Investec
• ChainCraft raises €11M to produce biochemicals from organic waste
• News - ChainCraft
• ChainCraft Products & Financial Summary - CB Insights

3 The Press Releases

CHAINCRAFT BV: Post-EIC Accelerator Funding Developments CHAINCRAFT BV, a Dutch circular biotechnology company, secured €2.5 million in grants and up to €15 million in equity investments through the EIC Accelerator’s June 2023 cut-off. The funding supports its proprietary fermentation technology to convert organic waste into biochemicals like Medium Chain Fatty Acids (MCFA), targeting applications in animal feed, lubricants, and polymers.

Key Developments Since Funding:

• Scaling Production: The grant will finance a new factory capable of producing 20,000 tons annually of circular chemicals.
• Technology Focus: Their C6 fatty acid (Caproic Acid) serves as a foundational platform for sustainable chemical alternatives.
• Financial Milestones: Closed an €11 million funding round alongside EIC funding to accelerate commercialization.

While CHAINCRAFT’s website (chaincraft.nl) was not accessible via provided sources, recent research publications describe a separate blockchain-based supply chain platform named ChainCraft using IoT and blockchain for secure logistics—though this appears distinct from CHAINCRAFT BV’s operations in biotech. No press releases or blog posts from chaincraft.nl were identified directly; updates are primarily disseminated through third-party platforms like StartLife and industry reports.

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Sources

• EIC Accelerator winners and statistics June 2023
• News - ChainCraft
• 3 StartLife Startups Receive €6.4M from European Innovation Council
• Chaincraft: Crafting the Future of Supply Chains with IoT and Blockchain Brilliance (PDF)

+ Note: The IJISRT paper describes a blockchain/IoT platform unrelated to CHAINCRAFT BV’s biochemical focus but shares the "Chaincraft" name.

4 The Technology Advancements

ChainCraft BV: Post-EIC Accelerator Funding Advancements

Since securing €2.5M in EIC Accelerator funding in June 2023, ChainCraft has accelerated its mission to produce circular biochemicals through proprietary fermentation technology. Below are key advancements made by the Dutch scale-up:

Current Capabilities

ChainCraft operates a demonstration plant in Amsterdam and is preparing to construct a full-scale commercial factory in the northern Netherlands, aiming for 20,000 tons/year production capacity post-completion. Their core technology converts organic waste (e.g., potato residues) into Medium Chain Fatty Acids (MCFAs) like Caproic Acid, which serve as intermediates for sustainable chemicals in animal feed, lubricants, polymers, and fragrances.

Technology and Market Developments

• Collaboration with Eternis Fine Chemicals: Announced in March 2025, this partnership focuses on developing low-carbon aroma chemicals using ChainCraft’s SensiCraft® fatty acids. The collaboration leverages Eternis’ chemocatalytic expertise to expand applications in perfumery and personal care.
• Factory Expansion: Supported by NOM and other investors, ChainCraft is finalizing plans for its northern Netherlands facility. Pre-financing efforts include technical design validation and consortium-backed funding involving Shift Invest, Convent Capital Agri Food Growth Fund, Horizon 3, and PDENH.
• Market Demonstration: While no new customer pilots are explicitly detailed beyond existing partnerships (e.g., with waste processors), their Amsterdam demonstration plant remains operational. The SensiCraft® range has gained traction as a fossil-free alternative for fragrance ingredients.

Intellectual Property and Research Outputs

No specific mentions of new patents or peer-reviewed studies since 2023 were identified. However:

• Existing processes rely on patented fermentation technology licensed to waste processors.
• Continued R&D focus includes optimizing yield efficiency at scale ahead of the new factory’s launch.

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Sources

• ChainCraft - Turning chemistry circular
• Collaboration with Eternis Fine Chemicals
• Bio-based aroma chemicals development
• Northern Netherlands factory plans

+ EIC Accelerator grant details

5 The Partnerships and Customers

ChainCraft BV: Partnerships and Advancements

ChainCraft BV, a Netherlands-based company known for its innovative approach to producing circular chemicals from food waste, has been actively engaging in strategic partnerships and collaborations. Since receiving the EIC Accelerator funding in June 2023, ChainCraft has focused on expanding its network and capabilities.

Partnerships and Customers

ChainCraft has established significant partnerships with several entities:

• Eternis Fine Chemicals: Announced a strategic collaboration to develop low-carbon, bio-based chemicals, marking a step towards sustainable chemical production.
• Royal Avebe: Entered into a Heads of Agreement to convert residual potato juice into high-value circular fatty acids and fertilizers. This collaboration aligns with both companies' commitment to sustainability and the circular economy.
• Agrifirm: Partnered for the upcycling of organic residues into valuable feed ingredients, enhancing sustainability in animal feed.
• Looop: Partnered to utilize organic co-products for sustainable chemical production, furthering ChainCraft's mission of converting waste into valuable materials.
• Ecover: Supplies fatty acids derived from food waste for Ecover’s "Too Good To Waste" household cleaners, showcasing a successful application of ChainCraft's technology in consumer products.

New Relationships and Market Positioning

These partnerships position ChainCraft BV as a leader in the circular bioeconomy, emphasizing its role in transforming waste into high-quality, sustainable chemicals. The relationships with companies like Royal Avebe and Agrifirm highlight ChainCraft's ability to collaborate across industries, from agriculture to consumer goods, to drive environmental sustainability.

Technology Advancements and Scaling

The partnerships are crucial for ChainCraft's technology advancements and scaling:

• Fermentation Technology: The collaboration with Royal Avebe will help scale up ChainCraft’s fermentation technology to convert residual streams into valuable products, marking a significant milestone in commercializing their innovations.
• Market Expansion: The partnerships facilitate entry into new markets, such as animal feed and fertilizers, while reinforcing existing ones like consumer goods.
• Sustainability: By leveraging these partnerships, ChainCraft further solidifies its commitment to reducing environmental impact through sustainable practices.

These strategic alliances not only enhance ChainCraft's capabilities but also accelerate its mission to transform the chemical industry into a more circular and sustainable sector.

Sources

• ChainCraft News
• ChainCraft News Archive
• New Ecover "Too Good To Waste" House Hold Cleaners
• From Organic Waste Streams to High-Quality Chemicals
• Royal Avebe and ChainCraft Announce Strategic Collaboration

6 The Hiring and Company Growth

ChainCraft BV: Team Growth and Scaling Strategy Post-EIC Accelerator Funding

Since securing EIC Accelerator funding in June 2023, ChainCraft BV has maintained a trajectory focused on scaling production capacity and expanding its team to meet operational demands. While exact headcount figures are not publicly disclosed, the company’s organizational structure includes a management team of at least six members, including CEO Marc den Hartog and Founder Niels van Stralen, alongside specialized roles in R&D, operations, finance, and commercial operations. The broader team spans technical (e.g., process engineers, researchers) and administrative functions (e.g., HR officers), reflecting a multidisciplinary approach to scaling its circular chemistry solutions.

Key Hiring Activity

Recent hires emphasize expertise in process engineering, R&D, and commercial development. For example:

• Dilek Ersu (Senior Business Development Manager) to drive partnerships.
• Andreas Christofi (Process Engineer) for plant optimization.
• Maddalena Cesaro (Application Scientist) for product innovation.

These roles support ChainCraft’s strategy to operationalize its next-phase factory—a facility ten times larger than its current 2,000-ton demonstration plant—while advancing proprietary fermentation technology for medium-chain fatty acids (MCFAs).

Growth Trajectory

The company is actively pursuing financing rounds to fund expansion into multiple international production sites over the next decade. This aligns with efforts to localize supply chains and avoid escalating transport costs associated with organic waste sourcing. Collaboration with Wageningen University continues through joint R&D projects involving PhD students, ensuring access to cutting-edge research talent.

Management Stability

No major changes in leadership are reported since 2021. Niels van Stralen remains central as Founder & Chief Growth Officer alongside Marc den Hartog as CEO, indicating continuity in strategic vision during the post-EIC scale-up phase.

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Sources

• ChainCraft Team Structure
• 4TU Case Study on ChainCraft’s Expansion
• ChainCraft Commercial Partnerships & Production Goals

7 The Media Features and Publications

ChainCraft BV: EIC Accelerator Winner from the Netherlands

ChainCraft BV, a pioneering biotechnology company from the Netherlands, achieved a significant milestone by winning the EIC Accelerator funding in June 2023. This company specializes in producing circular chemicals from organic waste streams, contributing significantly to the circular economy and sustainability.

Media Features and Publications

ChainCraft BV has been featured in various publications and media outlets, primarily for its innovative approach to producing bio-based chemicals from food waste. Their breakthrough technology involves fermentation processes that transform organic waste into valuable circular chemicals, such as medium-chain fatty acids. These are used in the agri-food and chemical & material industries, offering a sustainable alternative to traditional chemicals derived from fossil fuels or palm oil.

ChainCraft's journey began with a breakthrough discovery at Wageningen University, which laid the groundwork for their disruptive circular innovation. Over the years, the company has scaled up from laboratory to pilot scale and is now operating a demonstration factory capable of producing up to 2,000 tons of medium-chain fatty acid salts annually.

Content from Publications

Publications highlight ChainCraft's commitment to turning the chemical industry circular by leveraging food waste as a raw material. Their focus on creating price-competitive, fully bio-based chemicals has been recognized as a key step towards reducing waste and carbon footprint in industrial processes.

Podcasts and Interviews

Currently, there is limited information available on specific podcasts or interviews featuring the team of ChainCraft BV. However, their participation in various industry forums and conferences underscores their role in promoting sustainable chemistry practices.

Conference and Fair Visits, Presentations or Participations

ChainCraft BV actively participates in industry events, showcasing its expertise in biotechnology and circular chemical production. Their involvement in conferences and trade fairs helps in networking with potential partners and investors, further solidifying their position in the sustainable chemistry sector. For instance, their plans to establish a full-scale plant in the Northern Netherlands demonstrate their commitment to expanding their operations and engaging with regional stakeholders.

Involvement in Events

ChainCraft's engagement with events often centers around sharing knowledge and best practices in circular economy solutions. Their collaboration with regional bodies like the NOM and involvement in funding initiatives such as the European Innovation Council (EIC) highlight their proactive approach to innovation and sustainability.

Funding and Investments

ChainCraft received significant funding of $11 million (approximately €11 million) in a Series A round, led by Convent Capital and supported by other investors like SHIFT Invest and Horizon 3. This funding has been instrumental in laying the groundwork for a full-scale industrial plant and accelerating their growth plans.

Conclusion

ChainCraft BV's success in securing the EIC Accelerator funding in June 2023 marks a critical milestone in their journey towards commercializing circular chemicals. Their innovative approach, combined with strategic investments and partnerships, positions them as a leading player in sustainable biotechnology.

Sources

• ChainCraft - Turning chemistry circular
• Chaincraft Amsterdam B.V. full company profile on Creditsafe
• ChainCraft - Products, Competitors, Financials, Employees ...
• ChainCraft - The Netherlands - Chemical Parks in Europe
• Ambitious ChainCraft chooses northern Netherlands