1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator (European Innovation Council Accelerator) is a key funding initiative under the European Union’s Horizon Europe program, designed to support innovative startups and small to medium-sized enterprises (SMEs) that are developing breakthrough technologies and innovations. The program aims to foster the growth of DeepTech companies by providing them with the financial resources and support they need to scale their operations, commercialize their innovations, and ultimately contribute to job creation and economic growth within the EU.

Funding Structure

The EIC Accelerator offers a unique combination of grant and equity funding:

1. Grant Funding: Companies can receive grants of up to €2.5 million to cover various costs related to research and development, prototyping, testing, and other activities essential for bringing their innovation to market. This grant funding is non-repayable, enabling companies to utilize these funds without the burden of repayment.

2. Equity Funding: The EIC Accelerator also provides equity investments to selected companies. Until 2024, companies can receive up to €15 million in equity funding, which will be reduced to €10 million starting in 2025. This equity investment is designed to help companies secure the necessary capital to scale their operations and accelerate growth.

Purpose in the European DeepTech and Startup Ecosystem

The EIC Accelerator plays a critical role in the European DeepTech and startup ecosystem by:

Promoting Innovation: It supports groundbreaking technologies that can address significant societal and environmental challenges.
Fostering Collaboration: The program encourages collaboration between startups, research institutions, and industry stakeholders, creating a robust innovation ecosystem.
Facilitating Market Entry: By providing financial support and mentorship, the EIC Accelerator helps companies transition from the idea stage to market-ready products, fostering a culture of innovation and entrepreneurship in Europe.

Role in Scaling Companies and Securing Private Funding

The EIC Accelerator supports companies in various ways:

Providing Financial Resources: The combination of grants and equity funding allows startups to cover their operational costs, reduce financial risks, and invest in growth.
Access to Networks and Mentorship: The program connects companies with a network of investors, mentors, and industry experts who can provide valuable guidance, helping them navigate the complexities of scaling their businesses.
Attracting Private Investment: By demonstrating the backing of a reputable European funding initiative, EIC Accelerator winners often find it easier to attract additional private investment, as it serves as a vote of confidence in their business model and technology.

EIC Accelerator Winner: N2 APPLIED AS

Company Overview

Company Name: N2 APPLIED AS
Project Acronym: SmartNitroFarm Scale-up
Website: n2applied.com
Country: Norway
Funding Type: Equity only
Date of Submission: June 16, 2021

Project Description

N2 APPLIED AS's project, SmartNitroFarm Scale-up, focuses on developing a groundbreaking solution for producing renewable fertilizer from atmospheric nitrogen. This innovative approach not only addresses the increasing global demand for sustainable agricultural practices but also aims to reduce the carbon footprint associated with traditional fertilizer production.

Technology Basics and Background

The technology behind the SmartNitroFarm project is centered on nitrogen fixation, a process that converts atmospheric nitrogen (N2) into a usable form for plants, typically ammonia (NH3). Traditional methods of producing ammonia are energy-intensive and rely heavily on fossil fuels, leading to significant greenhouse gas emissions.

N2 APPLIED AS utilizes a novel approach that leverages renewable energy sources and innovative chemical processes to extract nitrogen from the air and convert it into a sustainable fertilizer. The key components of the technology include:

1. Electrochemical Nitrogen Reduction: This process uses renewable electricity to drive the conversion of nitrogen gas into ammonia, allowing for the production of fertilizer without the carbon emissions associated with conventional methods.

2. Modular and Scalable Design: The SmartNitroFarm system is designed to be modular, enabling easy scalability to meet the varying needs of different agricultural operations. This flexibility allows for localized production of fertilizer, reducing transportation costs and emissions.

3. Sustainability Focus: By producing fertilizer on-site using renewable resources, N2 APPLIED AS contributes to sustainable agricultural practices, helping farmers reduce their reliance on fossil fuel-based fertilizers and lower their overall environmental impact.

In summary, N2 APPLIED AS's SmartNitroFarm project exemplifies the kind of innovative, sustainable solutions that the EIC Accelerator aims to promote within the European startup ecosystem. By enabling companies like N2 APPLIED AS to access critical funding and support, the EIC Accelerator is playing a vital role in driving technological advancements and fostering a greener future for agriculture in Europe and beyond.

2 The Funding Rounds

Since receiving the EIC Accelerator funding on June 16, 2021, N2 Applied AS, a Norwegian agritech company, has secured additional funding to advance its sustainable fertiliser production technology.

Funding Rounds:

1. January 2023: €10 Million (NOK 105 Million)

Amount and Timing: In January 2023, N2 Applied raised €10 million (approximately NOK 105 million) to further develop its fertiliser technology and expand its commercial use.
Investors: The funding comprised €5 million from the European Innovation Council (EIC) and an additional €5 million from existing shareholders, including Blue River Invest, Holta Invest, NorgesGruppen, and Rasmussengruppen. (n2applied.com)

2. September 2021: €15 Million from the EU

Amount and Timing: In September 2021, N2 Applied secured €15 million in funding from the European Innovation Council (EIC).
Purpose: This funding aimed to support the commercialisation of N2 Applied's technology, which enables farmers to produce sustainable fertiliser locally, reducing emissions and reliance on fossil-based chemical fertilisers. (n2applied.com)

3. February 2020: NOK 74.4 Million

Amount and Timing: In February 2020, N2 Applied completed a fundraising of NOK 74.4 million from new and existing investors.
Investors: New shareholders included NorgesGruppen and Joh. Johannson, who committed a combined sum of over NOK 30 million. Existing shareholders such as Rasmussengruppen, Holta Invest, and Blue River Invest also participated. (n2applied.com)

Investor Information:

European Innovation Council (EIC): The EIC has been a significant investor, providing €15 million in September 2021 and an additional €5 million in January 2023. (n2applied.com, n2applied.com)
Blue River Invest, Holta Invest, NorgesGruppen, and Rasmussengruppen: These existing shareholders have consistently supported N2 Applied, contributing to the funding rounds in February 2020 and January 2023. (n2applied.com, n2applied.com)

Company Valuations:

Specific valuations for N2 Applied during these funding rounds are not publicly disclosed. However, the substantial investments from both the EIC and private investors indicate strong confidence in the company's technology and market potential.

Additional Information:

N2 Applied's technology focuses on enabling farmers to produce their own sustainable fertiliser locally, reducing emissions and reliance on fossil-based chemical fertilisers. The company has conducted pilot projects across various farms in Europe, demonstrating the effectiveness of its plasma technology in treating livestock slurry and enhancing fertiliser quality. (n2applied.com)

As of April 2025, there are no publicly available records of new funding rounds or exit events for N2 Applied beyond the information provided above.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, N2 Applied AS has published several press releases detailing their advancements, partnerships, and technological developments. Below is a summary of these releases:

1. N2 Applied Raises €15 Million from the EU (October 15, 2021): N2 Applied secured €15 million in funding from the European Commission’s European Innovation Council (EIC). This grant aims to support the commercialization of their innovative technology designed to reduce agricultural emissions and enhance sustainable fertilizer production. (n2applied.com)

2. N2 Applied Raises NOK 83 Million for International Commercial Rollout (September 21, 2021): The company raised NOK 83 million to fund the international rollout of its methane-eliminating agricultural technology. This investment is intended to accelerate the deployment of their solution across various markets, promoting sustainable farming practices globally. (n2applied.com)

3. N2 Applied Begins First UK Trial of Agricultural Emissions Technology (July 20, 2021): N2 Applied initiated its first UK trial of agricultural emissions technology, marking a significant step in demonstrating the effectiveness of their solution in reducing emissions from livestock slurry. (n2applied.com)

4. N2 Applied Granted “Green Deal” Fund of €2.5 Million from the European Innovation Council (May 11, 2021): The European Innovation Council awarded N2 Applied €2.5 million under the "Green Deal" fund. This grant is intended to support the development and scaling of their technology aimed at reducing agricultural emissions and promoting sustainable farming practices. (n2applied.com)

5. N2 Applied Raises NOK 74 Million for Next Phase Expansion (February 20, 2020): N2 Applied completed a fundraising of NOK 74.4 million from new and existing investors, including NorgesGruppen and Joh. Johannson. The funds are designated for the next phase of expansion, focusing on the commercialization of their sustainable fertilizer production technology. (n2applied.com)

Partnerships and Technological Advancements:

Strategic Partnership with GEA (November 15, 2022):

N2 Applied entered a strategic partnership with GEA, a leading provider of agricultural equipment, to accelerate the production and adoption of the N2 Unit, a sustainable manure processing system. Manufacturing commenced in 2023 at GEA’s German factory, with plans to offer the system initially in Northern Europe, Scandinavia, and the US, followed by a global rollout. (dairyreporter.com)

Technology Utilization by Food Industry Giant (September 11, 2023):

N2 Applied announced that its technology would be utilized by a major food industry player, indicating the growing acceptance and application of their sustainable fertilizer solutions in large-scale food production. (n2applied.com)

Expansion into Other Agricultural Sectors (January 19, 2023):

The company is exploring opportunities to scale its green fertilizer technology into other farming sectors, such as pork and seafood. This expansion aims to address broader agricultural emissions and promote sustainable practices across various industries. (dairyreporter.com)

Team Updates:

Appointment of New Chairman (March 15, 2022):

An experienced industrial leader was appointed as the new Chairman of N2 Applied, bringing valuable expertise to guide the company's strategic direction and growth. (n2applied.com)

Patents and Intellectual Property:

Specific details regarding patents or intellectual property developments are not explicitly mentioned in the available press releases. For comprehensive information on patents, it is advisable to consult N2 Applied's official communications or contact the company directly.

These press releases highlight N2 Applied's ongoing efforts to advance sustainable agriculture through innovative technologies, strategic partnerships, and significant investments.

4 The Technology Advancements

N2 Applied AS, a Norwegian company specializing in sustainable agricultural technology, has made significant advancements since receiving €15 million in equity investment from the European Innovation Council (EIC) Accelerator on June 16, 2021. (n2applied.com)

Current Capabilities:

N2 Applied has developed a plasma-based technology that enables farmers to produce their own sustainable fertilizers by converting livestock manure into valuable plant nutrients. This process not only enhances fertilizer efficiency but also reduces harmful emissions and odors associated with traditional manure management. (n2applied.com)

Technological Advancements:

Since the EIC funding, N2 Applied has achieved several key milestones:

Strategic Partnerships: In November 2022, N2 Applied entered a strategic partnership with GEA, a global leader in agricultural equipment, to accelerate the adoption of its technology in the dairy farming sector. (n2applied.com)
Additional Funding: In January 2023, the company raised €10 million (NOK 105 million) to further develop its fertilizer technology and expand its commercial use. (n2applied.com)

Market Demonstrations:

N2 Applied has demonstrated its technology through various pilot projects and collaborations:

Pilot Projects: The company has conducted trials across multiple countries, including Denmark, the UK, the Netherlands, and Norway, confirming the effectiveness of its plasma technology in reducing emissions and improving crop yields. (n2applied.com)
Industry Events: N2 Applied showcased its technology at EuroTier 2022 in Hanover, Germany, in collaboration with GEA Farm Technologies, highlighting its commitment to sustainable livestock farming solutions. (n2applied.com)

Intellectual Property and Research Publications:

While specific details about new patents or scientific publications are not readily available, N2 Applied has been actively involved in research collaborations:

EU Projects: The company has participated in EU-funded projects, such as the EIC Accelerator Pilot – Green Deal, aimed at piloting and commercializing its technology. (n2applied.com)
Academic Collaborations: N2 Applied has collaborated with institutions like Aarhus University in Denmark and the Norwegian University of Life Sciences (NMBU) to study the environmental benefits of its technology, including reductions in ammonia emissions and methane formation. (n2applied.com)

These efforts underscore N2 Applied's commitment to advancing sustainable agricultural practices through innovative technology and strategic partnerships.

5 The Partnerships and Customers

Since receiving the EIC Accelerator funding on June 16, 2021, N2 Applied AS has established several significant partnerships and collaborations to advance its sustainable fertiliser production technology.

New Partners:

1. Felleskjøpet Agri: In March 2024, N2 Applied entered into an agreement with Felleskjøpet Agri, a major Norwegian agricultural cooperative. (n2applied.com)

2. GEA Farm Technologies: In November 2022, N2 Applied and GEA, a leading provider of agricultural equipment, formed a strategic partnership to promote sustainable dairy farming practices. (n2applied.com)

3. NorgesGruppen and Joh. Johannson: In February 2020, N2 Applied raised NOK 74 million from new and existing investors, including NorgesGruppen and Joh. Johannson, Norway's largest grocery chain. (n2applied.com)

Nature and Purpose of Relationships:

Felleskjøpet Agri: The partnership aims to integrate N2 Applied's technology into Felleskjøpet Agri's operations, enhancing sustainable fertiliser production and promoting environmentally friendly farming practices among Norwegian farmers.
GEA Farm Technologies: This collaboration focuses on implementing N2 Applied's plasma technology in dairy farming, aiming to reduce emissions and improve resource efficiency in the dairy sector.
NorgesGruppen and Joh. Johannson: The investments are intended to support N2 Applied's expansion and the commercialization of its sustainable fertiliser production technology, contributing to more sustainable agriculture in Norway.

Market Positioning:

These partnerships position N2 Applied as a key player in sustainable agriculture, leveraging collaborations with major industry stakeholders to expand its market reach and influence.

Technology Advancements and Scaling:

The collaborations with Felleskjøpet Agri and GEA Farm Technologies facilitate the scaling of N2 Applied's technology, enabling broader adoption and further technological advancements in sustainable fertiliser production.

These strategic partnerships collectively enhance N2 Applied's ability to deliver innovative, sustainable solutions to the agricultural sector, aligning with global efforts to promote environmentally responsible farming practices.

6 The Hiring and Company Growth

Since receiving €15 million in funding from the European Innovation Council (EIC) on June 16, 2021, N2 Applied AS, a Norwegian agricultural technology company, has demonstrated significant growth and strategic developments.

Current Headcount and Team Size: Specific details regarding N2 Applied's current headcount are not publicly disclosed. However, the company has expanded its operations internationally, with offices in Oslo/Asker and a test center in Svene, Norway, as well as branches in Wageningen, Netherlands, and York/Edinburgh, UK. (n2applied.com)

Hiring Status: N2 Applied has been actively recruiting to support its growth initiatives. Recent job postings include positions such as Software Product Manager and Marketing Manager, indicating ongoing expansion in their team. (job-boards.greenhouse.io, job-boards.greenhouse.io)

Growth and Key Hires: The company has secured additional funding, including a €10 million investment in January 2023, to further develop its fertiliser technology and expand its commercial use. (n2applied.com) In November 2022, N2 Applied entered a strategic partnership with GEA, a global provider of equipment to the beef and dairy industry, to accelerate the adoption of its fertiliser technology. (n2applied.com) Additionally, in March 2022, Rasmus Sunde, an experienced industrial leader, was appointed as the new Chairman of N2 Applied, bringing valuable expertise to the company's leadership. (n2applied.com)

Impact of New Team Members: The strategic partnership with GEA is expected to enhance N2 Applied's market reach and accelerate the adoption of its sustainable fertiliser technology within the beef and dairy sectors. The appointment of Rasmus Sunde as Chairman is anticipated to provide strong leadership and strategic direction, supporting the company's growth and scaling efforts.

Management Changes: In March 2022, Rasmus Sunde was appointed as the new Chairman of N2 Applied, succeeding the previous chairman. This leadership change is expected to bring fresh perspectives and drive the company's strategic initiatives forward. (n2applied.com)

Overall, N2 Applied has demonstrated substantial growth and strategic development since receiving EIC funding in 2021, positioning itself as a leader in sustainable fertiliser production.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, N2 Applied AS has been featured in various media outlets, participated in industry events, and engaged in strategic partnerships. Below is a summary of their activities and media coverage:

Media Features and Publications:

February 4, 2025: N2 Applied, Hennig-Olsen, and Q-Meieriene received support from NorgesGruppen’s Sustainability Fund to develop a more climate-friendly ice cream. (n2applied.com)
January 16, 2025: Danish studies demonstrated a substantial reduction in ammonia emissions from field application and long-term chemical stability of NEO, N2 Applied's organic fertilizer. (n2applied.com)
November 8, 2024: A new study showed that the N2-process deactivates indicator organisms of Salmonella, E. coli, and A. suum in both digestate and cow dung. (n2applied.com)
March 19, 2024: Felleskjøpet Agri and N2 Applied entered into an agreement. (n2applied.com)
January 31, 2024: A study from the Norwegian University of Life Sciences (NMBU) showed complete elimination of methane formation in stored livestock manure using N2’s plasma technology. (n2applied.com)
August 31, 2023: N2 Applied’s technology was set to be used by a food industry giant. (n2applied.com)
January 11, 2023: N2 Applied raised €10 million (NOK 105 million) to expand the use of its breakthrough plasma treatment technology for sustainable fertilizer production. (n2applied.com)
November 16, 2022: N2 Applied and GEA entered a strategic partnership in sustainable dairy farming. (n2applied.com)
November 2, 2022: N2 Applied participated in EuroTier ’22 in Hanover. (n2applied.com)
September 14, 2022: Members of Parliament visited N2 Applied's pilot project as part of the UK Food Security Inquiry. (n2applied.com)
July 12, 2022: A Scottish institution became the first UK purchaser of an N2 Applied unit for ultra-low emission slurry production and circular agriculture. (n2applied.com)
May 3, 2022: N2 Applied and Aarhus University collaborated in testing plasma technology at the Foulum Biogas plant in Denmark. (n2applied.com)
April 7, 2022: New trial data showed that treated organic fertilizer can reduce dependence on chemical nitrogen fertilizer. (n2applied.com)
March 30, 2022: Momentum built on a project aiming to revolutionize the management of livestock slurry across Wales. (n2applied.com)
March 25, 2022: N2 Applied released the NEO Performance Report. (n2applied.com)

Podcasts and Interviews:

August 17, 2022: N2 Applied was featured on the "Theory-N2-Practice" podcast. (podbay.fm)

Conferences and Industry Events:

November 2, 2022: N2 Applied participated in EuroTier ’22 in Hanover. (n2applied.com)
September 14, 2022: Members of Parliament visited N2 Applied's pilot project as part of the UK Food Security Inquiry. (n2applied.com)
July 12, 2022: A Scottish institution became the first UK purchaser of an N2 Applied unit for ultra-low emission slurry production and circular agriculture. (n2applied.com)
May 3, 2022: N2 Applied and Aarhus University collaborated in testing plasma technology at the Foulum Biogas plant in Denmark. (n2applied.com)
April 7, 2022: New trial data showed that treated organic fertilizer can reduce dependence on chemical nitrogen fertilizer. (n2applied.com)
March 30, 2022: Momentum built on a project aiming to revolutionize the management of livestock slurry across Wales. (n2applied.com)
March 25, 2022: N2 Applied released the NEO Performance Report. (n2applied.com)

Involvement in Events:

September 14, 2022: Members of Parliament visited N2 Applied's pilot project as part of the UK Food Security Inquiry. (n2applied.com)
July 12, 2022: A Scottish institution became the first UK purchaser of an N2 Applied unit for ultra-low emission slurry production and circular agriculture. (n2applied.com)
May 3, 2022: N2 Applied and Aarhus University collaborated in testing plasma technology at the Foulum Biogas plant in Denmark. (n2applied.com)
April 7, 2022: New trial data showed that treated organic fertilizer can reduce dependence on chemical nitrogen fertilizer. (n2applied.com)
March 30, 2022: Momentum built on a project aiming to revolutionize the management of livestock slurry across Wales. (n2applied.com)
March 25, 2022: N2 Applied released the NEO Performance Report. (n2applied.com)

For more detailed information, you can visit N2 Applied's official website at n2applied.com.

N2 APPLIED AS

N2 APPLIED AS Secures EIC Accelerator Funding to Advance Sustainable Fertilizer Technology

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