1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is a vital initiative designed to support startups and small to medium-sized enterprises (SMEs) that focus on high-risk, innovative projects. This program particularly emphasizes the development of deep technology and groundbreaking solutions that can significantly impact various industries. By providing both financial and non-financial support, the EIC Accelerator aims to facilitate the commercialization of innovative products and services, thereby accelerating growth and enhancing competitiveness within the European market.

Funding Structure

The EIC Accelerator program offers a unique blended finance model, combining grants and equity investment. The maximum grant available under this program is up to €2.5 million, which can be utilized to cover costs associated with the development and implementation of innovative projects. This grant funding is particularly suited for early-stage development, allowing companies to navigate the initial hurdles of transforming innovative ideas into viable products.

In addition to grants, the EIC Accelerator provides equity funding, which has evolved over the years. Until 2024, startups can secure up to €15 million in equity investment, which is designed to support scaling efforts and enhance market readiness. From 2025 onwards, this equity funding cap will be adjusted to €10 million. This dual funding approach enables companies to leverage public financial support while simultaneously attracting private investments, thereby fostering a robust ecosystem for innovation and scaling.

Purpose in the DeepTech and Startup Ecosystem

The EIC Accelerator serves a critical role in the European deep tech and startup ecosystem by addressing the funding gap often encountered by innovative startups. Many of these companies face challenges in securing sufficient funding from traditional private investors due to the high-risk nature of their projects. By providing a combination of grants and equity, the EIC Accelerator mitigates some of these risks, enabling companies to focus on development and scale their innovations effectively.

Moreover, the program facilitates connections between startups and potential investors, enhancing networking opportunities that can lead to further funding rounds. By supporting innovative projects, the EIC Accelerator contributes to the overall advancement of technology, sustainability, and economic growth within Europe.

EIC Accelerator Winner: Excess Engineering AS

Excess Engineering AS, a Norwegian company, was a recent winner of the EIC Accelerator program with their project titled "Electric Actuator (The Missing Link)." This project focuses on the electrification of heavy machinery, a critical advancement in the effort to reduce emissions and enhance efficiency in various industrial sectors.

Project Overview: Electric Actuator

The "Electric Actuator" project addresses the pressing need for sustainable solutions in heavy machinery operations. Traditional machinery often relies on hydraulic systems, which are not only less efficient but also contribute significantly to carbon emissions. The Electric Actuator aims to replace these hydraulic systems with electric alternatives, thereby improving energy efficiency and reducing environmental impact.

Technology Basics and Background

The technology behind the Electric Actuator is grounded in advanced electric motor systems and control algorithms designed for heavy machinery applications. Electric actuators provide precise control over movement and force, which is critical in heavy machinery operations. They offer several advantages over traditional hydraulic systems, including:

Excess Engineering AS's focus on electrification aligns with global trends towards sustainability and efficiency in heavy industry. By leveraging the EIC Accelerator's funding structure, the company is positioned to advance its innovative solution and drive significant change within the heavy machinery landscape.

In summary, the EIC Accelerator program plays a vital role in fostering innovation within Europe's deep tech ecosystem. By providing substantial funding and support, it helps companies like Excess Engineering AS turn ambitious projects into reality, paving the way for a more sustainable industrial future.

2 The Funding Rounds

# Excess Engineering AS: EIC Accelerator Success and Funding Journey

Excess Engineering AS, a Norwegian technical service provider to the oil, gas, and renewable energy markets, has established itself as an innovative force in the industry since its founding in 2011. The company, based in Sandnes, Norway, has achieved significant milestones in funding and development, most notably becoming an EIC Accelerator winner in 2023.

Funding History

Excess Engineering has secured several significant funding rounds throughout its development: 2021 Funding: In 2021, Excess Engineering was awarded 6 million NOK (approximately €600,000) for developing a cone pressuremeter tool for offshore geotechnical investigation. This funding represented an important step in the company's R&D efforts.

2022 Recognition: The company received the Seal of Excellence from the European Commission, often a precursor to larger funding opportunities. Additionally, Excess Engineering was awarded ENOVA funding for piloting a fully electric wheel loader.

2023 EIC Accelerator Funding: In a major achievement, Excess Engineering was named an EIC Accelerator Winner in 2023, securing a substantial €2.5 million grant combined with equity investments through the EIC Fund. This prestigious funding is designed to support innovative companies with high growth potential.

Company Development and Achievements

Founded by Ole Gabriel Ørjan Kverneland and Ove Kalvatn in 2011, Excess Engineering initially operated primarily as a consultancy for senior engineers. The company has since evolved into a comprehensive technical service provider with a focus on electrification and automation systems.

Core Business Areas:

• Electrification and automation systems
• Engineering and product development services
• Innovative solutions for reduced carbon emissions

Notable Achievements:

• In 2022, Excess Engineering obtained ISO 14001 (Environmental Management System) and ISO 9001 (Quality Management Systems) certifications
• Successfully tested their developed cyclic cone penetration testing (CPT) tool in Le Havre, France in 2022
• Listed as a Gaselle Company by Dagens Næringsliv in both 2021 and 2022
• In 2024, the company's innovative product was nominated for Innovation Awards at INTERMAT Construction 2024
• Selected as one of only 15 EIC-funded SMEs to showcase at the EIC Pavilion during the Mobile World Congress (MWC) 2024

Current Projects and Contracts

Excess Engineering continues to develop innovative solutions and secure important contracts:

• Contract awarded for piloting Subsea Electric Drive, with delivery scheduled for Q1 2024
• Piloting All-Electric Wheel Loader, with delivery scheduled for Q2 2024

Company Structure and Leadership

Excess Engineering is part of Kverneland Industrier and maintains offices and workshop facilities in Sandnes, Norway. The company is led by CEO Ove Kalvatn, who emphasizes their expertise and inventive approach to providing advanced and dependable solutions in the industry.

The company's vision is to be "the preferred supplier for our customers in the transition towards a sustainable future", highlighting their commitment to innovation and environmental responsibility.

EIC Accelerator Funding Context

The EIC Accelerator funding received by Excess Engineering in 2023 is particularly significant as it represents one of Europe's most competitive and prestigious funding programs for innovative SMEs. The program typically supports companies with disruptive technologies and significant growth potential, providing both grant funding and equity investment through the EIC Fund.

The €2.5 million combined funding (grant plus equity) positions Excess Engineering for accelerated growth and continued innovation in sustainable energy solutions, particularly in their electrification and automation systems for the oil, gas, and renewable energy markets.

Sources: - Company Information - Excess Engineering

Technology: Research and Development - Excess Engineering

3 The Press Releases

Excess Engineering AS: A Pioneer in Electrification and Automation

Company Overview

Excess Engineering AS is a Norwegian company, founded in 2011 by Ole Gabriel Ørjan Kverneland and Ove Kalvatn. It operates as an international technical service provider to the oil, gas, and renewable energy markets. The company specializes in electrification and automation, offering comprehensive engineering and product development services with a focus on reducing costs and carbon emissions.

Technology and Innovations

Excess Engineering has developed a fluid-free electric actuator capable of rivaling hydraulic systems in heavy machinery. This actuator can handle loads from 1 to 80+ tons with up to 3 meter stroke lengths and adaptable speeds. The technology is being piloted in construction and mining environments, which are among the most demanding conditions.

EIC Accelerator Funding

In March 2023, Excess Engineering was awarded the EIC Accelerator funding, receiving a grant of 2.5 MEUR combined with equity investments through the EIC Fund. This funding supports the development and market introduction of innovative technologies like their electric actuators.

Recent Developments

• Piloting Projects: The company is currently piloting a Subsea Electric Drive with delivery expected in Q1 2024 and an All-Electric Wheel Loader with delivery anticipated in Q2 2024.
• Innovation Awards: Excess Engineering's innovative product was nominated for Innovation Awards at INTERMAT Construction 2024.
• EIC Pavilion: Selected as one of the 15 EIC-funded SMEs to showcase at the EIC Pavilion during the Mobile World Congress, MWC 2024.

Patents and Certifications

Excess Engineering has filed several patents for internal development projects and external customers. In 2022, they obtained ISO 14001 for Environmental Management Systems and ISO 9001 for Quality Management Systems.

Press Releases and Updates

Information on press releases or blog posts directly from Excess Engineering's website or social media accounts is not available in the provided sources. However, updates on their projects and achievements can be found through their company information and recent announcements related to the EIC Accelerator funding.

Partnerships

Excess Engineering is part of Kverneland Industrier and has partnerships such as representing Trendsetter Engineering in Norway, which provides specialized subsea solutions for the oil and gas sector.

Sources

• Excess Engineering AS - European Innovation Council (EIC) datahub
• EIC Accelerator winners and statistics March 2023
• Company Information - Excess Engineering
• Excess Engineering AS

4 The Technology Advancements

Excess Engineering AS: Post-EIC Accelerator Innovations and Market Progress Since winning the EIC Accelerator in 2023, which included a €2.5 million grant and equity investment, Excess Engineering AS has advanced its electrification-focused technologies for heavy machinery and subsea applications. The company’s patented electric actuators—designed to replace hydraulic systems in construction equipment—remain central to its growth, with pilot projects and new collaborations demonstrating market readiness.

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Technological Advancements

• All-Electric Construction Machinery: The company is piloting a fully electric wheel loader (scheduled for Q2 2024 delivery) under an ENOVA-funded project. This builds on their core actuator technology, which enables high-load operations with reduced emissions.
• Subsea Electric Drive: A contract was awarded in 2023 for piloting a subsea electric drive system (delivery Q1 2024), targeting offshore energy markets.

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Market Demonstrations

• INTERMAT Innovation Nomination: Their electric actuator technology was nominated for an innovation award at INTERMAT Construction 2024, highlighting industry recognition.
• MWC Barcelona Showcase: Selected as one of 15 EIC-funded SMEs to exhibit at the Mobile World Congress (MWC) in February 2024, providing visibility to global investors and partners.

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Intellectual Property & Publications

While no new patents are explicitly mentioned post-2023, the company holds six approved patents for its actuator technology as of earlier updates. Publicly available scientific studies or whitepapers are not cited in recent disclosures.

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Strategic Positioning

Excess Engineering’s focus on compact, high-efficiency electrification aligns with Norway’s push toward net-zero industrial solutions. Their ISO certifications (9001/14001) since 2022 further reinforce operational credibility.

Sources:

5 The Partnerships and Customers

Excess Engineering AS: Partnership and Customer Overview

Excess Engineering AS, a Norwegian company specializing in electrification and automation solutions for the oil, gas, and renewable energy sectors, has received significant recognition, including the EIC Accelerator funding in March 2023. This funding marked a pivotal moment in the company's growth trajectory.

Partnerships and Associations

• Kverneland Industrier: Excess Engineering is part of Kverneland Industrier, which provides a comprehensive turnkey service for the global market, including design, project management, automation, and fabrication.
• Trendsetter Engineering: The company serves as the Norwegian representative for Trendsetter Engineering, a provider of specialized subsea solutions.
• European Commission: Through the EIC Accelerator, Excess Engineering has been recognized as a leader in innovation, receiving a grant and equity investments.

Customers and Market Position

While specific customer names are not detailed, Excess Engineering's focus on electrification and automation places it at the forefront of the transition towards sustainable energy solutions. The company's expertise in subsea engineering and renewable energy technologies positions it well to support clients in these sectors.

New Relationships and Purpose

Since receiving the EIC funding, Excess Engineering has continued to innovate and expand its offerings. The company's development of electric actuators and all-electric construction machinery aligns with global trends toward sustainability and reduced emissions. These advancements likely attract new customers seeking environmentally friendly solutions.

Impact on Market Position and Technology Advancements

The EIC Accelerator funding and recognition have bolstered Excess Engineering's reputation as a leader in sustainable technology. This positioning helps in technology advancements by providing resources for ongoing research and development, particularly in electrification and automation. Scaling will be facilitated through increased visibility and credibility in the market, allowing the company to expand its client base and further develop its innovative solutions.

Scaling and Technology Advancements

Excess Engineering's commitment to R&D, especially in renewable energies and subsea engineering, ensures continuous innovation. The company's focus on sustainable solutions aligns with global environmental goals, potentially attracting new partnerships and collaborations in these areas.

Sources

• Excess Engineering AS Company Information
• Excess Engineering AS
• Excess Engineering Company Information
• Research and Development

6 The Hiring and Company Growth

Excess Engineering AS: Team Growth and Strategic Expansion Post-EIC Accelerator Funding Excess Engineering, a Norwegian technical service provider specializing in electrification and automation for energy markets, has demonstrated significant growth since winning the EIC Accelerator grant (2.5 MEUR plus equity) in 2023. While specific headcount figures are not publicly disclosed, the company’s project pipeline and awards suggest strategic scaling:

• Hiring and Team Growth: The company’s portfolio—including subsea electric drives, all-electric construction machinery, and geotechnical tools—implies specialized engineering recruitment. The EIC funding likely supports roles in R&D, project delivery (e.g., subsea pilot projects), and automation.
• Recent Milestones:
• 2024 Deliverables: Pilot deployments of an all-electric wheel loader (Q2 2024) and subsea electric drive system (Q1 2024).
• Innovation Recognition: Nominated for INTERMAT Construction’s Innovation Awards (2024) and showcased at MWC Barcelona under the EIC Pavilion.
• Management Stability: Co-founders Ole Gabriel Ørjan Kverneland and Ove Kalvatn remain actively involved as of 2024, with no reported leadership changes.

The influx of talent post-EIC Accelerator aligns with Excess Engineering’s focus on high-efficiency electrification solutions. New hires likely bolster their capacity to meet deadlines for pilot projects while advancing patented technologies like cyclic cone penetration testing tools—critical for offshore renewable energy markets.

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Sources

• Excess Engineering Official Website
• Company Information Page
• EIC Accelerator Winner Announcement (embedded in timeline)

7 The Media Features and Publications

Excess Engineering AS: A Norwegian Innovator in Engineering

Excess Engineering AS, located in Norway, has made significant strides in the engineering sector, particularly since receiving the EIC Accelerator funding in March 2023. The company specializes in designing and manufacturing compact electric actuators, with a strong focus on energy efficiency and reduced emissions for heavy-duty applications.

Media Features and Publications

There is limited specific media coverage directly naming Excess Engineering AS in major publications, but the company's innovative approach and products, including electric actuators and participation in projects like piloting a fully electric wheel loader, suggest a growing presence in the industry.

Podcasts and Interviews

Currently, there are no publicly available podcasts or interviews featuring the team of Excess Engineering AS. However, the company's leadership, such as CEO Ove Kalvatn, might participate in industry-specific events and discussions.

Conference and Fair Visits

Excess Engineering AS has been recognized for its innovative products and was selected as one of the 15 EIC-funded SMEs to showcase at the EIC Pavilion during the Mobile World Congress in 2024. This participation highlights the company's involvement in major industry events.

Events and Involvement

The company has been involved in several significant projects and events, including the development of a cone pressuremeter tool for offshore geotechnical investigations and the piloting of a subsea electric drive. These activities demonstrate Excess Engineering's commitment to innovation and technological advancement in the energy sector.

EIC Accelerator Funding

Receiving the EIC Accelerator funding in March 2023 marked a significant milestone for Excess Engineering. The grant of 2.5 million euros combined with equity investments through the EIC Fund supports the company's strategic growth and innovation goals.

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Sources

• Excess Engineering
• Company Information - Excess Engineering