1 The EIC Accelerator Project

The EIC Accelerator program, a key component of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups that are developing cutting-edge technologies within the European Union. This program is particularly focused on DeepTech sectors, which include advanced technologies such as artificial intelligence, biotech, and clean energy, among others. The EIC Accelerator aims to foster innovation and scale-up potential by providing financial backing and resources to companies that demonstrate high growth and significant market impact.

Funding Structure

The EIC Accelerator offers a combination of grants and equity investments to eligible companies. The grant component can reach up to €2.5 million, which is intended to cover costs associated with research and development, prototyping, and market entry. This grant is particularly valuable for companies that require substantial funding to advance their innovative projects without immediately diluting equity.

In addition to grants, the EIC Accelerator provides equity funding, which can be up to €15 million until 2024 and reduced to €10 million from 2025 onward. This equity financing is aimed at helping companies scale operations, expand their market reach, and attract additional private investment. By aligning public funding with private sector interests, the EIC Accelerator plays a crucial role in enhancing the growth trajectory of high-potential startups.

Purpose in the Ecosystem

The EIC Accelerator serves multiple purposes within the European DeepTech and startup ecosystem. It not only provides essential financial resources but also acts as a catalyst for collaboration among innovators, researchers, and industry players. By enabling startups to scale effectively, the program strengthens the overall innovation landscape in Europe, making it more competitive on a global scale.

Furthermore, the EIC Accelerator serves as a bridge between startups and potential investors. By validating the technologies and business models of supported companies, the program enhances their credibility, making it easier for these firms to attract follow-on investments from private equity and venture capital.

Case Study: Levistor Ltd and LevistorGridBoost

Levistor Ltd, a UK-based company, is a recipient of funding from the EIC Accelerator for their project titled LevistorGridBoost. This project focuses on the development of a flywheel grid boost technology aimed at ultra-rapid electric vehicle (EV) charging. The company submitted its Step 2 proposal on June 15, 2022, and successfully progressed to the Step 3 interview, leading to their award.

Technology Overview

The core innovation behind LevistorGridBoost lies in the use of flywheel energy storage systems. Flywheels store energy in the form of kinetic energy, rotating at high speeds. When energy demand spikes, such as during rapid EV charging, the flywheel can quickly release stored energy, providing a reliable and instantaneous power boost.

This technology is particularly relevant in the context of growing EV adoption, which often leads to increased demand on electrical grids. Traditional grid infrastructure may struggle to meet sudden surges in power requirements, especially in urban areas where charging stations are densely located. LevistorGridBoost addresses this challenge by enabling faster and more efficient charging without compromising the stability of the electrical grid.

The flywheel system offers several advantages, including high energy efficiency, long cycle life, and low maintenance requirements compared to conventional battery systems. Additionally, the technology supports sustainability goals by enabling the integration of renewable energy sources into the charging infrastructure, thus reducing reliance on fossil fuels.

Conclusion

The EIC Accelerator program provides essential support for innovative companies like Levistor Ltd, facilitating the development of transformative technologies such as LevistorGridBoost. By offering substantial funding and fostering connections within the innovation ecosystem, the EIC Accelerator plays a vital role in nurturing startups that are poised to drive technological advancements and contribute to a sustainable future. The success of LevistorGridBoost exemplifies the potential of the EIC Accelerator to empower entrepreneurs and accelerate the transition toward cleaner energy solutions in the electric vehicle sector.

2 The Funding Rounds

# Levistor Ltd: EIC Accelerator Winner Profile

Levistor Ltd is a cleantech startup based in the United Kingdom that develops renewable energy storage technology for ultra-rapid EV charging. The company was incorporated on February 22, 2021, and is headquartered in London. Levistor secured funding through the European Innovation Council (EIC) Accelerator program in the June 2022 cut-off, positioning itself among 75 innovative companies selected from over 986 proposals.

EIC Accelerator Funding

Levistor was among the winners of the highly competitive EIC Accelerator June 2022 call, which distributed approximately €400 million in total funding across the 75 selected companies. The program had a success rate of less than 8%, highlighting the significant achievement of Levistor in securing this funding.

According to Tom Andrews, a representative from Levistor, the company received up to €2.5 million in funding from the EIC Accelerator program. This substantial amount is particularly valuable for an early-stage company like Levistor, as it provides a two-year runway to reach the sales stage—a critical milestone that is often difficult to finance through traditional venture capital, which typically prefers companies with established sales.

The EIC Accelerator grant was particularly attractive to Levistor due to its two-year duration and administration structure. The company viewed this funding as a significant vote of confidence in their technology and business model.

Funding History and Rounds

Prior to the EIC Accelerator funding, Levistor had secured a Seed funding round of £1.4 million, though the exact date of this round is not specified in the available information.

The company's financing structure appears to be in its early stages, with the EIC Accelerator grant representing a major milestone in their funding journey. The EIC funding is expected to help Levistor strengthen its partnership with a regional equipment manufacturer and expand its international demonstrators, bringing the company closer to commercialization.

Company Financials

As of the most recent available financial information:

• Levistor's net assets stood at £600.48K, which represents a slight decrease of £9.87K (-2%) from the previous reporting period
• The company has a debt ratio of 23%, showing an increase of 2.65% (+13%) compared to the previous period
• Levistor is classified as a small company with a balance sheet under £10.2M and fewer than 50 employees

The company submitted abridged accounts on October 25, 2024, and a confirmation statement on July 4, 2024. Their next accounts are due by November 30, 2025, covering the period ending February 28, 2025.

Business Model and Growth Strategy

Levistor's business model centers on providing advanced energy storage solutions using flywheel technology to support rapid EV charging, particularly in locations where the electrical grid is weak or difficult to upgrade. Revenue generation comes primarily from selling these flywheel systems, with potential additional income from maintenance and support services.

The EIC Accelerator funding is enabling Levistor to:

Recent developments include the expansion of their engineering team, bringing in experts with experience in high-speed machinery and advanced electric motors to enhance their technological capabilities.

Strategic Partnerships

Levistor has secured a partnership with Highways England to demonstrate their flywheel technology's effectiveness in delivering rapid EV charging across the country. This collaboration is a significant step in proving the practical applications and scalability of their solution for the growing electric vehicle market.

The company also worked with Strata, a consulting firm, on their successful EIC Accelerator application. This partnership was instrumental in navigating the competitive application process that ultimately led to their funding success in June 2022.

No information about potential exit events such as IPOs, buyouts, or acquisitions for Levistor is available in the provided search results.

Sources: - EIC Accelerator winners and statistics June 2022 - Strata.team

• Levistor, the company that is enabling the future of electric transport through fast charging
• LEVISTOR company information, funding & investors | Dealroom.co
• Levistor Ltd - Company Profile - Endole
• EIC Accelerator - 2022 Report Web | Lira | Venture Funding Advisory

3 The Press Releases

Levistor Ltd: EIC Accelerator-Funded Innovations in EV Fast-Charging Technology

Levistor Ltd, a UK-based company specializing in flywheel energy storage systems (FESS), secured EIC Accelerator funding in June 2022 under a highly competitive call that awarded nearly €400 million to 75 European startups. The company’s kinetic battery technology addresses critical grid constraints and aims to revolutionize EV charging infrastructure.

Key Developments Post-Funding

• Technology Advancements: Levistor’s FESS acts as a “mechanical battery,” storing grid energy during low demand and releasing it for ultra-fast EV charging. Their system delivers 100 miles of range in just 5 minutes, mitigating range anxiety and enabling cost-effective deployment in grid-limited areas like highways.
• Partnerships: Levistor announced collaboration with National Highways (England) to trial its commercial product at a development center, validating its ability to support super-fast charging without costly grid upgrades. The company also strengthened ties with a regional equipment manufacturer post-EIC funding to accelerate commercialization.
• Team Expansion: In early 2022, Levistor onboarded engineering experts, including Rob Stevens (experienced in high-speed rotating machinery), to transition from R&D to manufacturing within 12–18 months.
• Commercial Strategy: The EIC grant provided €2.5 million over two years, enabling Levistor to focus on scaling production and expanding into European markets before global outreach.

Impact of EIC Funding

The non-dilutive grant allowed Levistor to bridge the gap between prototyping and sales—a phase often deemed too risky by private investors. CEO Matt Journee emphasized the grant’s role in securing partnerships and advancing demonstrator projects critical for market entry.

---

Sources

• EIC Accelerator winners June 2022
• Levistor’s collaboration with Strata
• National Highways trial announcement

4 The Technology Advancements

Current Capabilities of Levistor Ltd

Levistor Ltd, a UK-based company, specializes in developing innovative flywheel energy storage systems (FESS) designed to support super-fast charging of electric vehicles (EVs). Their technology, often referred to as a "kinetic battery," stores energy from the grid during low-demand periods and releases it rapidly when needed, allowing for high-powered EV charging. This capability is particularly beneficial in locations where the existing grid infrastructure cannot support fast charging, such as along motorways.

Advancements Since EIC Accelerator Funding

Since receiving funding in June 2022, Levistor has made significant advancements in its technology and market presence. The company has been working closely with partners like Ansys through their Startup Programme, leveraging virtual engineering and multiphysics optimization to enhance the safety and efficiency of its products. Additionally, Levistor has collaborated with the WMG Skills Centre at the University of Warwick on initiatives related to workforce development in the sector.

One of the key developments is Levistor's partnership with National Highways for commercial trials of its energy storage system. These trials, scheduled for early 2025, aim to demonstrate the ability of Levistor's technology to overcome grid constraints and enable super-fast EV charging on the UK's motorway network.

Technology Improvements and Demonstrations

Levistor's technology has been improved through its unique laminated flywheel design, which enhances safety and cost-effectiveness by eliminating the need for expensive containment systems. The company has also highlighted the ease of deployment of its systems, which can be easily connected to local grids and placed above or below ground in various settings.

The upcoming trials with National Highways serve as a significant demonstration of Levistor's technology in a real-world setting. These trials will run alongside other energy storage and generation methods, providing valuable insights into its effectiveness and potential for widespread adoption.

New Features, Patents, and Publications

While specific details on new patents or scientific publications since the funding are not available, Levistor's continued innovation in flywheel technology and its collaboration with academic and industry partners suggest ongoing development in these areas. The company's focus on sustainability and scalability reflects its commitment to enhancing its technology for a net-zero future.

Sources

• Levistor | Boosting the grid for ultra-rapid energy transfer
• News & Press - Levistor
• National Highways to trial Levistor's energy storage system - Zapmap
• Levistor develops commercial energy storage trial
• National Highways to test energy storage to offer fast EV charging
• National Highways energy storage system trial to offer super-fast EV charging
• Levistor trials energy storage solution for fast EV charging on the SRN

5 The Partnerships and Customers

Levistor Ltd: Partnerships and Progress Since EIC Accelerator Funding

Overview

Levistor Ltd, a UK-based company, has been at the forefront of developing innovative flywheel energy storage solutions for ultra-rapid EV charging. Since winning the EIC Accelerator funding in June 2022, Levistor has continued to expand its partnerships and technological advancements.

Partnerships and Customers

• National Highways: Levistor is partnering with National Highways to test its Flywheel Energy Storage System (FESS) alongside batteries and solar installations. This trial aims to support EV charging on the UK's motorway network, particularly where the existing grid infrastructure is insufficient for super-fast charging.
• City, University of London: Levistor collaborated with City University to develop its patented flywheel technology, enabling fast charging of electric vehicles.
• Ansys: Levistor benefits from Ansys's Startup Programme, leveraging virtual engineering, multiphysics, and optimization tools to enhance product safety and efficiency.
• Strata: Strata has worked closely with Levistor, assisting in successful EIC application processes, which have provided significant funding for Levistor's growth.

New Partners and Customers

While specific new partners or customers are not detailed in recent updates, Levistor's engagement with Ansys and Strata continues to support its technological development. The company's focus on expanding within the UK and Europe suggests potential future collaborations with regional equipment manufacturers and infrastructure providers.

Nature of New Relationships

The primary purpose of Levistor's partnerships is to enhance its flywheel technology and scale its deployment. Collaborations with Ansys and Strata are crucial for advancing product design and securing funding necessary for commercialization. The partnership with National Highways will help validate the technology's feasibility in real-world applications, paving the way for wider adoption in the EV charging sector.

Market Positioning

Levistor's partnerships will position the company as a leader in sustainable, high-power energy storage solutions, particularly in the context of EV charging. By addressing the power mismatch issue prevalent in many grid infrastructures, Levistor can capitalize on the growing demand for rapid EV charging. The EIC funding has provided a significant boost, allowing Levistor to transition towards commercialization and expand its international presence.

Technology Advancements and Scaling

The partnerships will drive technology advancements by providing access to advanced engineering tools and funding. Ansys's support enables Levistor to optimize its products for better safety and efficiency, while Strata's assistance in securing EIC funding helps bridge the gap to commercial-scale production. The trials with National Highways will validate the technology's practical application, which is essential for scaling up Levistor's solutions in the EV charging market.

Sources

• Levistor
• Levistor - ECF Research
• News & Press - Levistor
• Levistor, the company that is enabling the future of electric transport through fast charging
• Levistor Secures UK Government Grant to Speed Up EV Charging in Rural Areas
• National Highways to trial Levistor's energy storage system - Zapmap

6 The Hiring and Company Growth

Levistor Ltd: Growth and Development Since EIC Accelerator Funding

Levistor Ltd, based in the United Kingdom, received EIC Accelerator funding on June 15, 2022. Since then, the company has made significant strides in its growth and development.

Current Headcount and Team Size

While specific details about Levistor's current headcount or team size are not readily available, the company is recognized for its technical expertise and commercial experience, with a team that includes four mechanical and electrical engineering PhDs. This indicates a strong foundation in specialized fields like flywheel technology and power systems.

Hiring and Team Growth

There is no explicit information on whether Levistor is currently hiring or the extent of their recent growth. However, their involvement in advanced prototyping and their partnership with Ansys suggest ongoing innovation and potential expansion.

Growth and Expansion

Levistor has been growing and evolving, driven by a mission to revolutionize energy storage for a net-zero future. The company's unique laminated flywheel design offers a safer and more cost-effective solution for energy storage, positioning it for significant growth in the clean energy sector.

Key Positions and Recent Hires

No specific information is available regarding key positions or recent hires at Levistor. However, the company's leadership includes experienced professionals like Matt Journee, who serves as the CEO and has a background in working with multiple deep-tech startups.

Impact of New Team Members

New team members would likely contribute to Levistor's ability to scale and grow by enhancing its technical capabilities and commercial reach. This could involve expanding its flywheel energy storage technology to more applications, improving product efficiency, and increasing market presence.

Management and Founding Team Changes

There are no reported major changes in Levistor's management or founding team since receiving the EIC Accelerator funding. The company was founded by a team that includes Matt Journee, Tom Andrews, Ivan Roitch, and Keith Pullen, and they continue to drive its innovative approach to flywheel technology.

Future Prospects

Levistor's participation in trials with National Highways marks a significant step forward, demonstrating the potential of its technology to address grid constraints and support rapid EV charging. This, combined with its focus on sustainable and scalable solutions, positions the company well for future growth and success in the energy storage market.

Sources

• Levistor | Boosting the grid for ultra-rapid energy transfer
• National Highways to trial Levistor's energy storage system
• News & Press - Levistor
• Top 5 Advanced Flywheel Energy Storage Startups
• National Highways to test energy storage to offer fast EV charging

7 The Media Features and Publications

Overview of Levistor Ltd

Levistor Ltd, a UK-based company specializing in flywheel technology for energy storage, won the EIC Accelerator funding in June 2022. Here is an overview of the company's media features, publications, interviews, conference participations, and event involvements.

Media Features and Publications

Levistor Ltd has been featured in several publications and media outlets focusing on its innovative flywheel technology and energy storage solutions. Notable mentions include Current News, which highlighted Levistor's partnership with National Highways for a trial of its energy storage technology to power electric vehicle (EV) charging points. Additionally, Renewable Energy Magazine covered Levistor's trial with National Highways, emphasizing the company's role in overcoming grid constraints for EV charging infrastructure.

Podcasts and Interviews

There is no specific mention of podcasts or interviews featuring Levistor Ltd's team in the available sources. However, the company's CEO, Matt Journee, has been quoted in articles discussing their technology and partnerships, such as the National Highways trial.

Conference and Fair Visits, Presentations

While there is no detailed information on specific conferences or fairs that Levistor Ltd has participated in, the company's advanced technology and involvement in significant energy storage trials suggest potential participation in industry events focused on clean energy and transportation.

Events and Involvement

Levistor Ltd is set to participate in a significant trial with National Highways early in 2025, focusing on using its flywheel energy storage system to support fast EV charging on the UK's motorway network. This trial reflects the company's active engagement in pushing the boundaries of energy storage and supporting the transition to a net-zero future.

Additional Details

Levistor's innovative laminated flywheel design is highlighted for its safety, cost-effectiveness, and high-performance capabilities, making it a viable solution for short-duration energy storage needs such as EV charging. The company's technology has been recognized for its potential to address grid constraints and enhance EV charging infrastructure across the UK.

Sources: - LEVISTOR LTD overview

• LEVISTOR LTD people
• Levistor
• LEVISTOR LTD Company Profile
• Levistor Ltd - Company Profile
• National Highways to trial Levistor energy storage system
• Levistor Archives
• Levistor