1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The European Innovation Council (EIC) Accelerator program is a cornerstone initiative designed to support small and medium-sized enterprises (SMEs) and startups in Europe, particularly those operating in the deep technology (DeepTech) sector. This program aims to stimulate innovation by providing funding and resources to high-potential companies that are tackling significant societal challenges through disruptive technologies.

Funding Structure: Grants and Equity

The EIC Accelerator offers a unique funding structure composed of both grants and equity options. The grant component allows eligible companies to receive funding of up to €2.5 million, which can be utilized for various purposes, including the development of prototypes, testing, and market entry strategies. This non-repayable grant is particularly beneficial for startups looking to validate their innovative solutions without incurring debt.

In addition to grants, the EIC Accelerator also provides equity funding. Until 2024, companies can secure up to €15 million in equity investments, while this cap reduces to €10 million starting in 2025. This equity investment enables companies to attract additional private sector funding, thereby enhancing their financial stability and growth potential. By blending grants with equity, the EIC Accelerator creates a comprehensive funding mechanism that addresses the diverse needs of innovative startups.

Purpose in the European DeepTech and Startup Ecosystem

The primary purpose of the EIC Accelerator is to foster a vibrant ecosystem for innovation and entrepreneurship across Europe. By focusing on DeepTech—an area encompassing advanced technologies such as artificial intelligence, robotics, and biotechnology—the program aligns with the European Union's broader goals of sustainability and economic resilience. It aims to support projects that can lead to ground-breaking advancements in various sectors, ultimately enhancing Europe's competitive edge on a global scale.

Role in Scaling and Funding

The EIC Accelerator plays a crucial role in helping companies scale their operations and secure private sector investments. By providing initial funding, the program acts as a catalyst for startups, allowing them to develop their technologies and validate market demand. This initial support is often pivotal in attracting venture capital and private investors who may be more willing to invest once a startup demonstrates traction and potential for growth.

Furthermore, the EIC Accelerator offers mentoring, coaching, and access to a vast network of industry experts and potential investors. This wealth of resources enables companies to refine their business models and improve their chances of success in a competitive market.

Summary of EIC Accelerator Winner: HARDT BV and their Project

HARDT BV, a Netherlands-based company, is a prominent winner of the EIC Accelerator, recognized for its innovative project titled "Hyperloop for Sustainable Freight Transport." This initiative aims to revolutionize freight logistics by leveraging hyperloop technology to create a smarter, faster, and greener transportation solution.

Project Overview: Hyperloop for Sustainable Freight Transport

The Hyperloop project seeks to develop a transport system that utilizes low-pressure tubes to move freight at high speeds, significantly reducing transit times and emissions compared to traditional freight transport methods. By integrating magnetic levitation and vacuum technologies, the Hyperloop system minimizes air resistance and energy consumption, making it an environmentally friendly alternative.

The project aligns with global sustainability goals by promoting efficient logistics that can reduce congestion and pollution in urban areas. The initial focus on freight transport also allows for a quicker return on investment, with plans to later expand into passenger transport.

Technology Basics and Background

The Hyperloop concept was first proposed by entrepreneur Elon Musk in 2013 as a high-speed transportation system. It relies on a combination of several advanced technologies, including:

By addressing the challenges of traditional freight transport—such as speed, cost, and environmental impact—HARDT BV's Hyperloop project stands as a beacon of innovation within the European DeepTech ecosystem. The backing from the EIC Accelerator will facilitate its development and enhance its potential to transform logistics on a global scale.

For more information, HARDT BV can be explored further at hardt.global.

2 The Funding Rounds

Hardt Hyperloop, a Dutch company specializing in hyperloop technology, has secured several funding rounds since receiving the EIC Accelerator funding on June 16, 2021.

Funding Rounds and Amounts:

• October 14, 2021: Hardt Hyperloop was awarded €15 million by the European Commission's EIC Accelerator Fund. This grant was the first of its kind for a hyperloop company and aimed to accelerate the development of the European Hyperloop Center in Groningen. (hardt.global)
• December 21, 2022: The company secured additional funding from key investors, including POSCO International (South Korea) and Urban Impact Ventures (Netherlands). This investment was intended to expedite the construction of the European Hyperloop Center. (hardt.global)
• July 5, 2023: Hardt Hyperloop announced a €12 million investment from a consortium of public and private investors. This funding supported the completion of the European Hyperloop Center and the development of Hardt's hyperloop test vehicle, with testing operations slated to commence in 2024. (hardt.global)

Investor Information:

The funding rounds involved a diverse group of investors:

• European Commission's EIC Accelerator Fund: Provided a €15 million grant in October 2021 to support Hardt Hyperloop's development efforts. (hardt.global)
• POSCO International: A South Korean trading company and subsidiary of POSCO Holdings, POSCO International invested in Hardt Hyperloop in December 2022. (hardt.global)
• Urban Impact Ventures: A Dutch impact venture capital firm focused on sustainable urban transformation, Urban Impact Ventures participated in the December 2022 funding round. (hardt.global)
• First Dutch Capital: An investment firm led by entrepreneur Peter Goedvolk, First Dutch Capital invested in Hardt Hyperloop in July 2023. (hardt.global)
• InnovationQuarter and Investment Fund Groningen: Regional investment funds from the Dutch provinces of South Holland and Groningen, respectively, also participated in the July 2023 funding round. (hardt.global)

Company Valuations:

Specific valuations for Hardt Hyperloop during these funding rounds are not publicly disclosed. However, as of June 2023, the company had raised a total of $36.28 million. (o.parsers.vc)

Additional Information:

Hardt Hyperloop has been actively developing the European Hyperloop Center in Groningen, aiming to demonstrate lane-switching technology for high-speed hyperloop by 2023. (hardt.global) The center is expected to be a pivotal facility for hyperloop innovation in Europe.

In summary, since receiving the EIC Accelerator funding in June 2021, Hardt Hyperloop has secured multiple funding rounds totaling over €30 million, involving a mix of public and private investors, to advance its hyperloop technology and infrastructure projects.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, Hardt Hyperloop has made significant strides in advancing hyperloop technology and infrastructure. The company has published several press releases detailing these developments, highlighting key partnerships, technological advancements, and team updates.

July 5, 2023: Securing EUR 12 Million Investment for the European Hyperloop Center

Hardt Hyperloop announced a substantial investment of EUR 12 million from a consortium of public and private investors, including the EU's €1.1 billion European Innovation Council (EIC) Fund, Dutch regional investment funds InnovationQuarter and Investment Fund Groningen, and entrepreneur Peter Goedvolk through his fund First Dutch, in partnership with Platform Zero. This funding is earmarked for the completion of the European Hyperloop Center (EHC) and Hardt's hyperloop test vehicle, with testing operations slated to commence in 2024. The EHC, a 420-meter-long test facility featuring a lane switch, is designed to validate all essential hyperloop technologies and serves as a collaborative platform for other hyperloop developers and companies interested in hyperloop components. (hardt.global)

October 14, 2022: Awarded €15 Million from the European Commission

The European Commission awarded Hardt Hyperloop €15 million through the EIC Accelerator funds, marking the first time a hyperloop company received such financial support from Brussels. This investment underscores the Commission's recognition of hyperloop as a sustainable transportation solution and aims to accelerate the development of hyperloop technology in Europe. The funding is intended to bolster the European Hyperloop Center in Groningen and support the integration of hyperloop networks alongside existing transportation modalities. (hardt.global)

April 15, 2024: Completion of the European Hyperloop Center Test Track

Hardt Hyperloop announced the completion of the test track at the European Hyperloop Center (EHC), marking a significant milestone in hyperloop technology development. With the EHC now operational, the company is poised to begin testing and validating various hyperloop technologies. This development necessitates a realignment of Hardt's workforce and resources to focus on the skills and competencies required for the next phase of hyperloop technology advancement. (hardt.global)

December 21, 2022: Securing Funding from Key Investors

Hardt Hyperloop secured additional funding from key industry and investment partners, including POSCO International (South Korea) and Urban Impact Ventures (Netherlands). This investment solidifies Hardt's plan to realize the European Hyperloop Center in the coming year. POSCO International, a subsidiary of POSCO Holdings, has developed a hyperloop-specific steel alloy in collaboration with Tata Steel Europe, which will be utilized for the hyperloop tubes at the EHC. Urban Impact Ventures, a Dutch impact venture capital firm, focuses on the sustainable transformation of the urban environment, aligning with Hardt's mission to develop sustainable transportation solutions. (hardt.global)

September 9, 2024: Successful Completion of First Test at the European Hyperloop Center

Hardt Hyperloop successfully completed the first test of its hyperloop vehicle at the European Hyperloop Center (EHC) in Veendam. During the test, the vehicle demonstrated its traction technologies, including magnetic levitation, guidance, and propulsion systems, moving smoothly through the first 90 meters of the 420-meter-long EHC facility at a speed of almost 30 km/h. This achievement marks a significant step forward in the development of hyperloop technology in Europe and globally. (hardt.global)

These developments reflect Hardt Hyperloop's ongoing commitment to advancing hyperloop technology, fostering strategic partnerships, and achieving significant milestones in the establishment of sustainable and high-speed transportation solutions.

4 The Technology Advancements

Hardt Hyperloop, a Dutch company specializing in the development of hyperloop technology, has made significant advancements since receiving €15 million in funding from the European Innovation Council (EIC) Accelerator on October 14, 2021. (hardt.global)

Current Capabilities

Hardt Hyperloop is at the forefront of hyperloop innovation, focusing on creating a sustainable and high-speed transportation system. The company has developed a fully operational hyperloop lane-switching technology, enabling vehicles to change lanes without additional or moving components. This innovation is crucial for the implementation of hyperloop networks, allowing for direct journeys without the need for intermediate stops. (hardt.global)

Advancements Since EIC Accelerator Funding

Following the EIC Accelerator funding, Hardt Hyperloop has achieved several milestones:

• European Hyperloop Center (EHC): The company secured over €12 million in additional funding to establish the EHC, a 420-meter-long test facility located in Veendam, Netherlands. This center is designed to demonstrate all essential hyperloop technologies, including the lane-switching system, and is scheduled to commence testing operations in 2024. (hardt.global)
• Collaborations and Investments: Hardt Hyperloop attracted investments from key partners such as POSCO International and Urban Impact Ventures, further solidifying its position in the hyperloop industry. (hardt.global)

Technology Improvements and New Features

The development of the lane-switching technology represents a significant advancement in hyperloop systems. This feature allows vehicles to change lanes without additional or moving components, enhancing the efficiency and safety of the transportation system. (hardt.global)

Market Demonstrations

Hardt Hyperloop has been actively engaging with governmental agencies and business partners to solidify plans for infrastructure development and potential pilot routes. The EHC will serve as an open testing facility, inviting other hyperloop developers and companies to perform tests, fostering a collaborative environment within the hyperloop ecosystem. (hardt.global)

Intellectual Property and Publications

While specific details about new patents, scientific studies, clinical trials, or whitepapers are not readily available, Hardt Hyperloop's continuous innovation and development efforts suggest ongoing research and potential intellectual property activities.

In summary, Hardt Hyperloop has made substantial progress in advancing hyperloop technology, securing significant investments, and preparing for real-world demonstrations of its systems.

5 The Partnerships and Customers

Hardt Hyperloop, a Netherlands-based company specializing in hyperloop technology, has established several strategic partnerships and secured significant investments to advance its mission of developing sustainable, high-speed transportation systems.

Key Partnerships and Collaborations:

• Rete Ferroviaria Italiana (RFI) and FS Italiane Group: In May 2023, Hardt Hyperloop formalized a collaboration with RFI, a subsidiary of the FS Italiane Group, to continue joint studies and innovation activities in hyperloop technology. This partnership aims to analyze potential hyperloop corridors and integrate them with the existing European transport network. (hardt.global)
• Zeleros: In October 2023, Hardt Hyperloop and the Spanish company Zeleros signed a Memorandum of Understanding to accelerate the technical and commercial development of hyperloop systems. The collaboration focuses on achieving technology convergence and interoperability, with plans to test and demonstrate hyperloop technologies at the European Hyperloop Center in the Netherlands and the HyperTrack in Spain. (hardt.global)
• Tata Steel, Royal IHC, and Koninklijke BAM: In May 2023, Hardt Hyperloop announced a declaration of intent with these leading corporations to support the development of hyperloop technology. The partnership aims to pool knowledge and expertise to develop an international standard for hyperloop systems. (hardt.global)
• Prysmian Group: In May 2021, Hardt Hyperloop and Prysmian Group partnered to develop the motor circuit for the first full-scale operational European hyperloop system. This collaboration focuses on creating innovative solutions for the propulsion system, contributing to the commercialization of hyperloop technology. (prysmian.com)
• POSCO International and Urban Impact Ventures: In December 2022, Hardt Hyperloop secured funding from these investors to advance the construction of the European Hyperloop Center. POSCO International, a South Korean trading company, and Urban Impact Ventures, a Dutch impact venture capital firm, are supporting Hardt's efforts to realize a commercial hyperloop line before 2030. (hardt.global)
• European Innovation Council (EIC) Fund, InnovationQuarter, and Investment Fund Groningen: In July 2023, Hardt Hyperloop secured over €12 million in funding from these entities to complete the European Hyperloop Center and its hyperloop test vehicle, setting the stage for testing operations to commence in 2024. (hardt.global)

Impact on Market Position and Technological Advancements:

These partnerships and investments position Hardt Hyperloop as a leading entity in the hyperloop industry, enhancing its credibility and accelerating the development of sustainable transportation solutions. Collaborations with established corporations like Tata Steel, Royal IHC, and Koninklijke BAM provide access to advanced materials and construction expertise, facilitating the development of efficient and cost-effective hyperloop infrastructure. The partnership with Zeleros and the support from the EIC Fund and regional investors underscore the growing confidence in Hardt's technology and its potential to revolutionize transportation. These relationships collectively contribute to Hardt Hyperloop's goal of creating a sustainable, high-speed transportation network across Europe and beyond.

6 The Hiring and Company Growth

Hardt Hyperloop, a Dutch company specializing in hyperloop technology, received EIC Accelerator funding on June 16, 2021. (strata.team) Since then, the company has demonstrated significant growth and development in various aspects.

Team Growth and Hiring

While specific details about Hardt Hyperloop's current headcount and team size are not publicly disclosed, the company has been actively expanding its workforce. Their careers page indicates ongoing recruitment efforts, suggesting a proactive approach to scaling their team.

Recent Hires and Key Positions

Although precise information about recent hires and key positions filled is not readily available, the company's expansion efforts imply the addition of professionals across various domains to support their growing operations.

Impact of New Team Members

The influx of new talent is expected to bolster Hardt Hyperloop's capabilities in research and development, project management, and operational execution. This strategic expansion is crucial for advancing their hyperloop technology and accelerating the commercialization of sustainable transportation solutions.

Management and Founding Team Changes

There is no publicly available information indicating major changes in Hardt Hyperloop's management or founding team since the receipt of the EIC Accelerator funding. The company's leadership appears to remain consistent, focusing on executing their strategic vision for the future of transportation.

In summary, Hardt Hyperloop has been actively expanding its team and operations since receiving EIC Accelerator funding in June 2021. This growth is pivotal for the company's mission to revolutionize transportation through sustainable and efficient hyperloop technology.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, Hardt Hyperloop, a Netherlands-based company specializing in hyperloop technology, has achieved significant milestones and garnered substantial media attention.

Media Features and Publications:

• October 19, 2021: The European Innovation Council awarded Hardt Hyperloop a €15 million investment, marking the first time the European Commission supported a hyperloop company. This funding aims to accelerate the development of the hyperloop, aligning with the European Green Deal's goals for sustainable and smart mobility. (bits-chips.nl)
• July 5, 2023: Hardt Hyperloop secured an additional €12 million investment from key public and private investors, including the EIC Fund, InnovationQuarter, and Investment Fund Groningen. This funding supports the completion of the European Hyperloop Center (EHC) and the development of Hardt's hyperloop test vehicle, with testing operations set to commence in 2024. (hardt.global)

Podcasts and Interviews:

Specific details regarding podcasts or interviews featuring Hardt Hyperloop's team since June 16, 2021, are not readily available in the provided sources.

Conference and Fair Participation:

Information about Hardt Hyperloop's participation in conferences, fairs, or presentations since June 16, 2021, is not explicitly detailed in the available sources.

Event Involvement:

The available sources do not provide specific details about Hardt Hyperloop's involvement in events since June 16, 2021.

For the most current and detailed information, it is recommended to visit Hardt Hyperloop's official website at hardt.global or consult their latest press releases and news updates.