1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is part of the European Innovation Council (EIC), designed to support small and medium-sized enterprises (SMEs) and startups that focus on innovative technologies and scalable business models. The primary aim of the program is to foster deep-tech innovations in Europe, providing funding and support to help companies transition from research and development to market-ready products. By promoting high-risk, high-reward projects, the EIC Accelerator seeks to bolster the European startup ecosystem, facilitating the growth of pioneering businesses that can contribute to both economic growth and sustainability.

Funding Structure

The EIC Accelerator offers a unique funding model known as blended finance, which combines grants and equity investments.

Purpose and Impact on the Startup Ecosystem

The EIC Accelerator plays a critical role in the European DeepTech and startup ecosystem by addressing the funding gap that often exists for innovative startups. Many of these companies face challenges in securing sufficient funding from traditional sources, particularly for high-risk projects. By providing significant financial support and facilitating access to private investors, the EIC Accelerator enhances the potential for successful scaling of innovative technologies.

The program also fosters collaboration between startups and established companies, encouraging partnerships that can lead to market penetration and growth. By supporting projects that contribute to sustainability and technological advancement, the EIC Accelerator aligns with broader European goals of innovation, economic resilience, and climate action.

Case Study: NoPalm Ingredients BV

Company Overview: NoPalm Ingredients BV, based in the Netherlands, has emerged as a notable winner of the EIC Accelerator program. The company focuses on creating sustainable alternatives to palm oil through innovative fermentation technology.

Project Overview: The EIC Accelerator project, titled NoPalm Oil, aims to develop a unique fermentation platform that utilizes bio-waste streams to produce a local, circular, and sustainable substitute for palm oil. This initiative not only addresses the environmental concerns associated with palm oil production but also promotes the circular economy by utilizing bio-waste as a feedstock.

Technology Background: The fermentation platform developed by NoPalm Ingredients leverages advanced biotechnological processes to convert organic waste into valuable products. Traditional palm oil production is often linked to deforestation, biodiversity loss, and significant carbon emissions. By contrast, NoPalm Ingredients’ technology provides a sustainable alternative that minimizes ecological impact while meeting the increasing global demand for palm oil substitutes.

The fermentation process involves the use of specific microorganisms that break down the bio-waste, transforming it into oil-like compounds. These compounds can then be processed and refined to mimic the functional properties of palm oil, making them suitable for various applications in the food, cosmetics, and biofuels industries.

Conclusion

The EIC Accelerator program represents a vital mechanism for supporting innovative startups like NoPalm Ingredients BV, which are poised to make significant contributions to sustainability and technological advancement. By offering blended finance solutions, the program not only assists in the development of groundbreaking projects but also helps integrate these innovations into the broader market, fostering a more resilient and sustainable economy in Europe. With the NoPalm Oil project, NoPalm Ingredients is set to revolutionize the palm oil industry while promoting environmental stewardship through its unique fermentation approach.

2 The Funding Rounds

NoPalm Ingredients BV: Recent Funding and Developments

NoPalm Ingredients BV, a Dutch biotechnology company, has been making significant strides in the industry since receiving the EIC Accelerator funding in March 2024. This funding is part of a broader strategy to support innovative technologies with high growth potential.

Financing Raised

NoPalm Ingredients has secured two significant funding rounds in recent times. In July 2024, the company closed a €5 million seed funding round led by Rubio Impact Ventures, with participation from Oost NL, Fairtree Elevant Ventures, Willow Capital Investments, and The Netherlands Enterprise Agency (RVO). Additionally, NoPalm Ingredients received €2.5 million from the EIC Accelerator, along with potential equity investment, marking another crucial milestone in their fundraising efforts.

Funding Rounds

Timing and Amount of Funding Rounds

• EIC Accelerator Funding: Secured in August 2024, following the submission of the proposal in March 2024.
• Seed Funding Round: Announced on July 24, 2024, with the round led by Rubio Impact Ventures.

Investor Information

Key investors in NoPalm Ingredients include: - Rubio Impact Ventures: Led the €5 million seed funding round.

• Oost NL: Co-led the funding round.
• Fairtree Elevant Ventures: Co-led the funding round.
• Willow Capital Investments: Participated in the funding round.
• The Netherlands Enterprise Agency (RVO): Contributed to the funding round.

Information Related to Funding Rounds

The funding rounds have been instrumental in driving NoPalm Ingredients' mission to create sustainable palm oil alternatives. The company uses non-GMO proprietary yeasts and low-capex technology to convert upcycled agri-food sidestreams into high-quality yeast oils, achieving a 90% reduction in CO2 emissions and a 99% decrease in land use compared to traditional palm oil production.

Company Valuations

As of the latest funding rounds, specific company valuations for NoPalm Ingredients are not publicly disclosed. However, the successful closure of these rounds indicates growing investor confidence in the company's innovative approach and market potential.

Exit Events

There are no reported exit events such as IPOs, buyouts, or acquisitions for NoPalm Ingredients BV at this time.

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Sources: - NoPalm Ingredients secures €2.5 Million in EIC Accelerator Funding

• Dutch startup NoPalm Ingredients secures €5 million to scale sustainable palm oil alternative
• NoPalm Ingredients bags €5M for sustainable palm oil alternative
• Dutch startup NoPalm Ingredients bags €5M
• NoPalm Ingredients secures €5m to scale up palm oil alternative
• Dutch biotech startup NoPalm Ingredients raises €5M seed round

3 The Press Releases

NoPalm Ingredients BV: A Dutch Biotechnology Pioneer

NoPalm Ingredients BV, based in the Netherlands, made significant strides in 2024 after securing funding from the prestigious EIC Accelerator program. This achievement marked a pivotal moment in the company's journey to revolutionize the oil industry.

Funding and Recognition

NoPalm Ingredients received €2.5 million in funding, along with potential equity investment, from the EIC Accelerator in March 2024. This grant was part of a larger allocation of €411 million to 68 innovative companies across Europe. The funding has been instrumental in accelerating the company's scale-up and commercialization plans, helping NoPalm Ingredients move closer to its vision of transforming the oil industry globally.

Technology and Innovation

The company utilizes a unique fermentation platform to produce microbial oils from locally sourced agri-food byproducts such as potato peels and whey permeate. This approach not only provides a sustainable alternative to palm oil but also achieves a 90% reduction in CO2 emissions and a 99% decrease in land use compared to traditional palm oil production.

Partnerships and Scaling

NoPalm Ingredients has partnered with notable industry firms, including Colgate-Palmolive, Unilever, and Zeelandia. The company has also successfully scaled its fermentation-based oil production to an industrial level, reaching a 120,000-liter fermentation scale. This milestone demonstrates the feasibility of converting food industry side streams into high-quality oils and fats.

Brand Development

In addition to its core technology, NoPalm Ingredients has launched a new brand called Revóleo, which marks the company's transition from a pioneering startup to a scale-up leader in sustainable oils and fats production. Under Revóleo, the company offers two products: Revóleo Soft and Revóleo Silk, designed to replace palm oil and other fats in various applications.

Funding and Investments

Before the EIC Accelerator funding, NoPalm Ingredients secured €5 million in a seed funding round led by Rubio Impact Ventures, with participation from Fairtree Elevant Ventures, Oost NL, Willow Capital Investments, and the Netherlands Enterprise Agency (RVO). This investment further supports the company's mission to provide a local, circular, and sustainable solution to the global palm oil market.

Sources

• NoPalm Ingredients secures €2.5 Million in EIC Accelerator Funding
• Dutch biotech NoPalm Ingredients secures €2.5M from EIC Accelerator
• NoPalm Ingredients scales fermentation-derived oils to industrial level
• NoPalm Ingredients secures € 5M to accelerate scale up and deliver sustainable palm oil alternative globally
• Regulatory & Price Pressure Makes Palm Oil Alternatives A Growing Industry

4 The Technology Advancements

NoPalm Ingredients BV: Post-EIC Accelerator Funding Advancements

Since securing €2.5 million in EIC Accelerator funding in August 2024 (submitted Step 2 proposal on March 13, 2024, and won Step 3 interview), NoPalm Ingredients has accelerated its scale-up and commercialization efforts. Below are key advancements:

Technological and Operational Progress

• Industrial-Scale Fermentation: In February 2025, NoPalm achieved a milestone by scaling fermentation to 120,000 liters, converting agri-food side streams into food-grade oils at industrial capacity. This validated their low-capex technology’s feasibility for large-volume production.
• Emission Reductions: Their proprietary yeast-based fermentation process maintains a 90% reduction in CO₂ emissions and 99% lower land use compared to conventional palm oil.
• Demo-Commercial Scale Preparation: Partnering with NIRAS, the company is designing scalable bioreactor systems to transition from pilot to demo-commercial production by 2025.

Market Demonstrations and Partnerships

• Customer Pilots: The company has completed industrial-scale testing with partners including Colgate-Palmolive, Unilever, and Zeelandia. These trials validate the oil’s performance as a drop-in replacement for palm oil without recipe reformulation.
• Commercialization Roadmap: The EIC funding supports plans to produce 1.5 million kilograms of sustainable oil annually, targeting full commercial deployment post-trials.

Intellectual Property & Research Outputs

While recent patents or studies are not explicitly detailed in public reports, their core technology relies on non-GMO yeast strains and patented low-capex processes developed pre-funding. No new whitepapers or clinical trials were reported post-August 2024.

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Sources

• NoPalm Ingredients Secures €2.5 Million in EIC Accelerator Funding (August 2024)
• Scale Yeast Oil Fermentation Milestone Hit (February 2025)
• NIRAS Collaboration for Bioreactor Design (February 2025)
• EIC Accelerator Funding Announcement (August 2024)

5 The Partnerships and Customers

NoPalm Ingredients BV: Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding Since securing EIC Accelerator funding in March 2024, NoPalm Ingredients BV has accelerated collaborations with multinational corporations and scaled its fermentation technology to disrupt the palm oil industry. Below is an analysis of its key partnerships, customers, and market strategy:

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Key Partnerships & Customers

• Colgate-Palmolive: Entered a multi-year partnership in March 2025 to industrialize soap bars using NoPalm’s yeast-derived oils. The collaboration focuses on replacing palm oil in personal care products while complying with deforestation regulations like the EUDR.
• Unilever: Engaged through the 100+ Accelerator program to test NoPalm’s oils in products such as bouillon powder. The partnership validates performance in real-world applications.
• Zeelandia: A global bakery ingredients supplier testing NoPalm’s oils as a sustainable alternative for baked goods.
• Lamb-Weston/Meijer (LWM): While not explicitly detailed, recent reports emphasize partnerships with "industry giants" across food manufacturing sectors, suggesting expanded collaboration networks.

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Nature of Relationships & Strategic Goals

• Technology Validation: Partners like Colgate-Palmolive and Unilever are critical for proving NoPalm’s oils as drop-in replacements without reformulation needs. These trials verify functionality under industrial production conditions.
• Regulatory Compliance: Relationships target compliance with EUDR and sustainability mandates by offering traceable, deforestation-free alternatives.
• Circular Economy Focus: By upcycling food-industry side streams (e.g., agricultural waste), collaborations reduce reliance on tropical oils while cutting CO₂ emissions by 90% compared to conventional palm oil.

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Market Positioning & Scaling Impact

By aligning with multinational leaders and leveraging fermentation scalability, NoPalm is positioned as a frontrunner in sustainable lipid innovation for the €50B+ global palm oil market.

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Sources

6 The Hiring and Company Growth

NoPalm Ingredients BV: Team Growth and Scaling

NoPalm Ingredients BV, a Dutch biotechnology company specializing in sustainable palm oil alternatives through yeast oils, has experienced significant growth and development since receiving funding from the EIC Accelerator in early 2024. Here's an overview of their team growth and scaling efforts:

Current Headcount and Team Size

As of the latest available information, NoPalm Ingredients has a team of approximately 25 members. There is no specific recent update on the exact current headcount, but the company has been expanding its operations and partnerships.

Hiring and Team Growth

NoPalm Ingredients has been actively expanding its team, though specific job openings are not detailed in recent reports. The company's growth in team size is part of its overall strategy to scale up production and commercialize its innovative products.

Recent Hiring and Key Positions

While specific recent hires are not listed, the company has key positions such as Chief Executive Officer (Lars Langhout), Chief Technology Officer (Jeroen Hugenholtz), and Chief Operations Officer (Jeroen Blansjaar). Other roles include Fermentation Scientists, Process Engineers, and Business Development Heads, indicating a diverse and specialized team.

Growth and Scaling

Since the EIC Accelerator funding, NoPalm Ingredients has made significant strides in scaling its production. In February 2025, the company achieved an industry-first milestone by scaling fermentation-derived oils to an industrial level of 120,000 liters. This achievement positions them well for further commercialization and expansion.

Impact of New Team Members

The addition of new team members, particularly in specialized roles like fermentation science and process engineering, is crucial for NoPalm Ingredients' ability to scale and innovate. These experts help refine production processes, improve product quality, and enhance the company's capacity to meet growing demand for sustainable palm oil alternatives.

Changes in Management or Founding Team

There are no reported changes in the management or founding team since the funding. The core leadership remains consistent, with Lars Langhout and Jeroen Hugenholtz leading the company's strategic direction.

Future Prospects

NoPalm Ingredients is poised for significant growth, driven by its successful scaling of yeast oil production and strong partnerships with industry giants like Colgate-Palmolive and Unilever. The company's focus on sustainability and reducing environmental impact aligns well with global trends, positioning it favorably for future expansion and market penetration.

Sources

• NoPalm Ingredients
• NoPalm Ingredients secures €5M to accelerate scale up and deliver sustainable palm oil alternative globally
• Dutch biotech startup NoPalm Ingredients raises €5M seed round
• Scale yeast oil fermentation milestone hit by NoPalm Ingredients
• About - NoPalm Ingredients

7 The Media Features and Publications

NoPalm Ingredients BV: Media Presence and Industry Engagement Since EIC Accelerator Funding

Founded in 2021 and headquartered in Wageningen, Netherlands, NoPalm Ingredients has emerged as a key innovator in sustainable palm oil alternatives. While specific media features directly tied to its March 2024 EIC Accelerator win are not publicly documented, the company’s recent activities highlight notable visibility across industry channels.

Media Features & Publications

NoPalm’s €5 million Seed funding round announced in July 2024 garnered attention for its focus on scaling yeast-based oils to replace palm oil in food, cosmetics, and home care products. Though no direct media citations are listed post-March 2024, earlier collaborations with multinationals like Unilever and Colgate-Palmolive during pilot phases likely generated trade-specific coverage. The company’s mission—addressing deforestation linked to palm oil production while repurposing food-industry waste—positions it as a recurring subject in sustainability-focused publications.

Podcasts & Interviews

Publicly available interviews or podcasts featuring NoPalm’s founders or team members have not been explicitly documented. However, co-founders Lars Langhout and Prof. Dr. Jeroen Hugenholtz are likely contributors to biotech and circular economy forums given their roles in advancing fermentation-based solutions.

Conference Participation & Events

NoPalm actively engages with industry networks:

• Industrial scale-up trials: Post-funding efforts emphasize preparing large-scale production runs for client testing, often discussed at biotechnology or sustainability conferences (specific events unnamed).
• Investor-backed outreach: Participation in impact-focused events is inferred through partnerships with backers like Rubio Impact Ventures and Oost NL, though exact event details remain unspecified.

The company’s zero-waste fermentation technology—converting potato peels and vegetable waste into specialty fats—aligns with themes at cleantech expositions such as those hosted by the Dutch biotech sector.

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Sources

• NoPalm Ingredients secures €5M funding
• Collaborations with Unilever/Colgate-Palmolive
• Founder profiles
• Scale-up plans
• Investor network
• Fermentation technology details (Note: URL corrected from source data)