1 The EIC Accelerator Project

The EIC Accelerator program is a pivotal initiative under the European Innovation Council (EIC) that aims to support innovative small and medium-sized enterprises (SMEs) and startups in Europe, particularly those developing deep-tech solutions. Designed to provide both financial and non-financial support, the EIC Accelerator offers a unique blend of grant funding and equity investment, facilitating the advancement of high-potential innovations from concept to market.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers blended finance, comprising two main components: grants and equity investments. The grant component can provide up to €2.5 million, aimed at covering the costs of innovation, including research and development, prototyping, and testing. This non-repayable funding is critical for companies seeking to mitigate risks associated with early-stage innovation.

In addition to grants, the EIC Accelerator also offers equity investment, which can reach up to €15 million until 2024, and is set to decrease to a maximum of €10 million starting in 2025. This equity funding is designed to help companies scale effectively and attract further investment from private sectors. By combining grants with equity, the EIC Accelerator creates a comprehensive financial package that supports the growth of startups and SMEs.

Purpose of the EIC Accelerator

The EIC Accelerator plays a significant role in the European deep-tech and startup ecosystem by providing essential resources for innovative businesses. Its primary focus is on supporting companies that are developing groundbreaking technologies that can lead to transformative changes in their respective fields. The program aims to bridge the gap between research and market deployment, ensuring that promising innovations receive the support they need to succeed.

The EIC Accelerator also enhances the visibility of participating companies, making it easier for them to connect with potential investors, partners, and customers. By fostering collaboration between the public and private sectors, the program encourages the commercialization of innovative solutions, ultimately contributing to the growth of a competitive and sustainable European economy.

Role in Scaling Companies

The EIC Accelerator is instrumental in helping companies scale their operations and secure additional funding from private investors. Through its funding mechanisms, the program reduces the financial burden on startups, allowing them to focus on developing their technologies and entering new markets. The equity investment component further enhances the credibility of participating companies, making them more attractive to private investors who are often wary of funding early-stage projects.

Moreover, the EIC Accelerator offers mentoring and coaching services, connecting companies with industry experts and experienced entrepreneurs. This support helps businesses refine their strategies, improve their market positioning, and enhance their chances of success in the competitive landscape.

Case Study: GBM Works B.V. and the SIMPLE Project

GBM Works B.V., a Netherlands-based company, has emerged as a winner of the EIC Accelerator program with their project titled SIMPLE, which stands for Simple Installation of MonoPiLEs. The project was submitted as part of the Step 2 proposal on June 15, 2022, and subsequently won funding through the Step 3 interview process.

Project Overview: SIMPLE

The SIMPLE project aims to revolutionize the installation process of MonoPiLEs, a type of foundation commonly used in marine and offshore structures, including wind turbines and other large installations. Traditional installation methods for MonoPiLEs can be cumbersome, costly, and time-consuming. The SIMPLE approach seeks to streamline this process, making it more efficient and cost-effective.

Technology Basics and Background

MonoPiLEs are large, cylindrical steel piles driven into the seabed to provide a stable foundation for offshore structures. Their installation typically involves significant logistical challenges and heavy machinery, which can lead to increased project timelines and costs. The SIMPLE project addresses these challenges by introducing innovative installation techniques and technologies.

GBM Works B.V. has developed a proprietary system that enhances the installation efficiency of MonoPiLEs. This system utilizes advanced engineering methods and automation to minimize the time and resources required for installation. By simplifying the installation process, the SIMPLE project not only reduces costs but also mitigates environmental impacts associated with traditional methods, thereby aligning with sustainability goals in the offshore energy sector.

The technology is grounded in extensive research and development, leveraging the expertise of GBM Works B.V. in engineering and project management. The project has the potential to significantly improve the competitiveness of offshore renewable energy projects, contributing to the broader transition toward sustainable energy sources.

In conclusion, the EIC Accelerator program serves as a critical enabler of innovation in Europe, providing essential funding and support for companies like GBM Works B.V. and their SIMPLE project. By facilitating the development and scaling of groundbreaking technologies, the EIC Accelerator plays a vital role in strengthening the European deep-tech ecosystem and driving economic growth.

2 The Funding Rounds

# GBM Works: Silent Innovation in Offshore Wind Installation

GBM Works B.V., a pioneering Dutch company based in Amsterdam, has developed an innovative silent installation technique for offshore wind monopiles called the Vibrojet®. As a spin-off from Delft University, GBM Works is focused on revolutionizing the offshore wind industry by addressing key environmental challenges related to noise pollution during installation.

Funding History

GBM Works has secured significant financial backing to support its innovative technology development:

Seed Funding (December 2024)

In December 2024, GBM Works announced the successful first close of a minimum €6 million seed funding round. The funding could potentially reach €7.5 million with oversubscription from co-investors. This investment came from a strong consortium comprising:

• Rotterdamse Havendraken
• Katapult Ocean
• EIC Fund
• Existing shareholders

The seed funding will enable GBM Works to accelerate the development and commercialization of its Vibrojet® technology, particularly supporting:

• The SIMPLE III offshore test planned for March 2025
• First commercial deployment with Ecowende in the Hollandse Kust West VI windfarm in early 2026

EIC Accelerator Funding (2022)

GBM Works was awarded funding from the European Innovation Council (EIC) Accelerator program after successfully submitting a Step 2 proposal on June 15, 2022, and winning in the subsequent Step 3 interview. The EIC Fund later became an investor in the company's seed funding round in December 2024.

SIMPLER Project Funding

The company is currently working on developing a reusable Vibrojet® through the SIMPLER (Silent Installation of Monopiles – Reusable) project, which is partially subsidized by the European Innovation Council.

Company Valuation

According to available data, GBM Works has an estimated enterprise value of $26-40 million. The company appears to be in the growth stage, having successfully developed its core technology and secured significant funding to bring it to market.

Business Operations and Growth

GBM Works employs between 11-50 people and was incorporated in 2016. The company is headquartered in Amsterdam, North Holland, and operates within the engineers and technical design industry.

The company's Vibrojet® technology offers significant advantages over traditional pile-driving methods:

• Significantly reduces underwater noise pollution
• Ensures compliance with stricter marine noise regulations
• Provides a more environmentally friendly alternative for offshore wind development
• Protects marine ecosystems during installation

Strategic Partnerships

GBM Works has established significant industry partnerships to advance its technology:

• The SIMPLE III offshore test planned for March 2025 is co-funded by 13 industry partners including Shell, Eneco, Vattenfall, EnBW, Ecowende, Seaway7, Atlantic Shores Offshore Wind, DEME Offshore, CAPE Holland, Van Oord, GROW, Deltares, and TNO.
• The company has secured a contract with Ecowende to demonstrate the Vibrojet® technology for installing monopiles in three selected locations in the Hollandse Kust West VI offshore wind farm.

Exit Strategy and Future Outlook

While there is no specific information about IPO plans or acquisition targets, GBM Works appears to be focused on commercializing its technology and establishing itself as a leader in environmentally conscious innovation for the renewable energy sector. The significant industry partnerships and investor interest suggest strong growth potential in the expanding offshore wind market.

The company's focus on addressing environmental challenges in the offshore wind industry positions it well for future growth as global renewable energy goals drive expansion in this sector.

Sources: - GBM Works Secures First Close of Minimum €6 Million Seed Funding

• GBM Works secures first close of €6 million seed funding round
• GBM Works company information
• GBM Works Secures €6 Million to Revolutionize Offshore Wind Installation
• GBM Works | A silent method for installing offshore wind turbines

3 The Press Releases

GBM Works B.V. Overview and Developments

GBM Works B.V. is a Dutch company that has been at the forefront of innovative offshore wind installation technology. Since receiving EIC Accelerator funding in June 2022, the company has made significant strides in developing and commercializing its groundbreaking Vibrojet technology.

Technology Advancements

Vibrojet Technology: GBM Works' Vibrojet system is a silent installation technique designed for offshore wind monopiles. It combines vibratory driving with water injection near the bottom of the pile, effectively reducing underwater noise pollution compared to traditional pile-driving methods. This technology is crucial for compliance with stricter marine noise regulations and promotes more sustainable offshore wind projects.

Partnerships and Collaborations

• Dieseko Group Partnership: GBM Works has signed a Letter of Intent with Dieseko Group, a world leader in deep foundation vibro technology, to collaborate on advancing the Vibrojet system.
• Katapult Ocean Accelerator Program: GBM Works was selected for the Katapult Ocean Accelerator Program in 2024, highlighting its commitment to innovative solutions in the marine sector.
• SIMPLE III Project: GBM Works is part of the SIMPLE III project, which involves several industry partners, including Shell, Eneco, and Vattenfall. This project aims to test the Vibrojet technology offshore in March 2025.
• Ecowende Collaboration: GBM Works has a contract with Ecowende to install monopiles using the Vibrojet technology in the Hollandse Kust West VI wind farm, with plans for commercial deployment in early 2026.

Funding and Financial Updates

Seed Funding Round: In December 2024, GBM Works successfully secured a minimum of €6 million in seed funding, with potential oversubscription up to €7.5 million. This investment comes from a consortium including Rotterdamse Havendraken, Katapult Ocean, and the EIC Fund, supporting the further development and commercialization of the Vibrojet technology.

Team and Organizational Updates

Leadership and Expertise: The company has a team of experienced professionals, including former industry leaders who provide strategic and operational guidance. This expertise is crucial in advancing the Vibrojet technology and its market introduction.

Press Releases and Blog Posts

GBM Works regularly publishes press releases and updates on its website, detailing progress in technology development, partnerships, and funding rounds. These include announcements about the seed funding round, participation in the Katapult Ocean Accelerator Program, and key milestones in the SIMPLE III project.

Sources:

• GBM Works Blog
• GBM Works Secures First Close of Minimum €6 Million Seed Funding
• GBM Works New Tech Challenges Noise Pollution In Wind
• Partnership Announcement - GBM Works B.V. and Dieseko Group B.V.
• GBM Works secures first close of €6 million seed funding round for Vibrojet monopile silent installation technique
• GBM Works takes a major step in developing silent offshore pile-driving technology with data tooling as the foundation
• GBM Works Secures First Close of Minimum €6 Million Seed Funding to Revolutionize Offshore Wind Installation with Silent Technology

4 The Technology Advancements

Current Capabilities of GBM Works B.V.

GBM Works B.V., a Netherlands-based company, specializes in developing silent installation methods for offshore wind turbine foundations. Their primary technology, Vibrojet, combines vibrations with water jetting to facilitate quieter and more efficient installation of monopiles, reducing environmental impacts on marine life.

Advancements Since June 2022

Since receiving funding in June 2022, GBM Works has made significant advancements:

• Funding: The company secured a first close of €6 million in a seed funding round, with potential for up to €7.5 million, to accelerate the development and commercialization of Vibrojet technology. This investment supports the final development phases and the first commercial deployment.
• Technological Improvements: The Vibrojet technology has been improved to reduce noise pollution by using vibrations and water jetting instead of traditional piling methods. This approach eliminates the need for bubble curtains, reduces steel usage, and potentially lowers CO₂ emissions.
• Market Demonstrations: GBM Works is currently conducting large-scale tests of Vibrojet technology in projects such as SIMPLE III, scheduled for March 2025, and plans for its first commercial deployment in the Hollandse Kust West VI wind farm in early 2026.

New Features and Demonstrations

In addition to its core Vibrojet technology, GBM Works has introduced features like the combination of vibrations with patented jetting technology inside the monopile, enhancing efficiency and reducing environmental impact. Collaboration with MSA-Service utilizes the multiped data acquisition platform to monitor and analyze the technology's effectiveness during tests.

Patents, Studies, and Whitepapers

While there is no specific information on new patents filed or scientific studies published directly related to the advancements since the EIC Accelerator funding, GBM Works continues to refine its patented silent installation method. The company's focus remains on demonstrating the technology's viability through pilot projects and commercial applications.

Sources:

• GBM Works and Partners Celebrate Key Milestones in the SIMPLE III Project Vibrojet Offshore Test I
• GBM Works | A silent method for installing offshore wind turbines
• GBM Works secures first close of €6 million seed funding round for Vibrojet monopile silent installation technique
• GBM Works - Products, Competitors, Financials, Employees
• GBM Works secures funding to accelerate the development its Vibrojet technology
• GBM Works' New Tech Challenges Noise Pollution in Wind Turbine Installation
• GBM Works' New Tech Challenges Noise Pollution In Wind
• GBM Works accelerates installation of offshore wind turbines and minimizes noise pollution
• GBM Works to support wind farm developer Ecowende with innovative silent installation technology

5 The Partnerships and Customers

GBM Works B.V. Partnerships and Market Positioning Post-EIC Accelerator Funding

Since receiving EIC Accelerator funding in 2022, GBM Works B.V., a Dutch innovator in offshore wind installation technology, has solidified partnerships and customer relationships critical to advancing its Vibrojet® silent monopile installation system. Below is an analysis of its collaborations and market impact:

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Key Partners & Customers

• DEME Offshore: A strategic partner and investor (24.01% stake), DEME acts as a launching customer for Vibrojet® technology, supporting pilot projects to validate silent monopile installation.
• Ecowende: Signed a contract to install three monopiles at the Hollandse Kust West VI wind farm using Vibrojet®, marking a direct commercial application.
• Van Oord: Collaborates on operational readiness for offshore deployment, leveraging Van Oord’s expertise in large-scale installation.
• Deltares: Provides validation for environmental compliance, ensuring reduced underwater noise impacts.
• Katapult Ocean: Selected GBM Works for its 2024 accelerator program to enhance scalability and industry connections.
• FORWARD.one: A venture capital investor supporting early-stage development due to Vibrojet®’s disruptive potential.

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New Relationships & Strategic Purpose

• MSA-Service/Multiped Partnership: Integrates advanced data tooling with Vibrojet® during SIMOX/SIMPLE III tests to optimize pile-driving efficiency and noise reduction.
• Shell, Vattenfall, Eneco, etc.: Participate in the SIMPLE III consortium (launched August 2023) to validate offshore capabilities ahead of March 2025 real-world trials.

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Market Positioning & Technological Advancements

GBM Works is transitioning from R&D-focused operations into offshore equipment manufacturing through:

The partnerships accelerate market entry by combining technical expertise (e.g., Heerema’s offshore experience) with financial backing (€6M seed funding led by FORWARD.one and Katapult Ocean), positioning GBM Works as a leader in sustainable offshore wind foundations.

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Sources Used:

-ORGANISATION | Gbmworks -Press release: GBM Works Secures First Close of Minimum €6 Million Seed Funding -DEME Half Year Report 2024 -SIMPLE IIB - GROW -GBM Works secures first close of €6 million seed funding round -SIMPLE III Project Update -Data Tooling Partnership with MSA-Service -Ecowende Partnerships Page

6 The Hiring and Company Growth

GBM Works B.V. Team Growth and Hiring Overview Since securing EIC Accelerator funding in June 2022, GBM Works has focused on scaling its operations to advance its Vibrojet® technology, a silent monopile installation system for offshore wind projects. While specific hiring timelines post-2022 are not publicly detailed, the company’s strategic collaborations and growth trajectory provide insights into its team dynamics.

Key Details

• Current headcount: Estimated between 11–50 employees, with no explicit updates post-EIC funding.
• Hiring activity: No direct announcements, but partnerships (e.g., Ecowende, Heerema) suggest demand for specialized roles in R&D and offshore operations.
• Key positions: Likely include geotechnical engineers, project managers, and offshore installation specialists to support field testing and commercialization of Vibrojet®.
• Growth drivers: Collaborations with industry leaders like Sif Group (monopile manufacturing) and Allnamics Geotechnical (drivability studies) imply a focus on technical talent acquisition to refine their methodology.

Strategic Impact of New Hires

Expanding the team would enable GBM Works to:

Management Stability

No recent changes in leadership are noted publicly; however, advisors include seasoned professionals such as René Raaijmakers (former CEO at Groendus) and Wouter Remmelts (ex-Director of BAM International), indicating access to strategic guidance without direct management shifts.

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Sources

• ORGANISATION | Gbmworks – Advisor roles and partnership details with Sif/Heerema/FORWARD.one/Allnamics.
• GBM Works Dealroom Profile – Employee range and investor data.
• Dutch Offshore Wind Innovation Guide 2025 – Ecowende collaboration announcement.
• Research & Development | Gbmworks – Core technology development timeline.

Note: Specific hiring figures post-EIC award remain undisclosed; growth inferences derived from partnerships.

7 The Media Features and Publications

GBM Works B.V.: Media Features, Publications, and Industry Engagement

GBM Works B.V., a Dutch innovator in silent offshore wind installation technology, has garnered significant media attention and industry recognition since its EIC Accelerator funding round. Below is a detailed account of its public engagements and coverage:

Media Features

• Funding Announcements: Multiple outlets covered GBM Works’ €6 million seed funding round (first close), emphasizing its Vibrojet® technology’s role in reducing marine noise pollution. The round included investors like Katapult Ocean and the EIC Fund.
• Technology Profiles: Outlets highlighted the Vibrojet®’s environmental advantages over traditional pile-driving methods, particularly for compliance with strict noise regulations.
• Project Milestones: Coverage included the SIMPLE III offshore test (March 2025) and Ecowende’s deployment at Hollandse Kust West VI (2026).

Publications Naming GBM Works

• Industry Reports: GBM Works has been featured in renewable energy publications for its partnership with Ecowende and participation in large-scale tests subsidized by the Netherlands Enterprise Agency (RVO).
• Technical Papers: While direct citations are limited to conference proceedings (e.g., Stress Wave Theory conferences), the company collaborates with research institutions like Deltares and TNO.

Podcasts & Interviews

No direct podcasts featuring GBM Works’ team were identified. However, search results reference unrelated content from a similarly named “GBM Podcast” focused on digital entrepreneurship, which does not involve this company.

Conference & Fair Participation

• SIMPLE III Initiative: Co-funded by 13 industry partners including Shell, Vattenfall, and DEME Offshore, this project positions GBM Works as a key player in sustainable offshore wind testing.
• Katapult Ocean Accelerator Program 2024: Participation underscored its alignment with ocean-impact startups advancing climate solutions.

Event Involvement

Stakeholder Collaborations: Public updates emphasize partnerships for pilot projects at Maasvlakte (2019) and Hollandse Kust West VI wind farm[£3][£5]. No standalone event hosting is documented beyond project-specific milestones.

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Sources

PRESS RELEASE: Seed Funding Round | Silicon Canals Coverage | TU Delft Campus Announcement | WindpowerNL RVO Subsidy Article