1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support small and medium-sized enterprises (SMEs) and startups that develop high-risk, high-potential innovations. With a strong focus on deep tech and disruptive technologies, the program provides financial assistance in the form of grants and equity investments to help these companies scale their innovations and penetrate global markets.

Funding Structure

The EIC Accelerator offers a blended finance model, which combines non-dilutive grants with equity investments.

Purpose in the Startup Ecosystem

The EIC Accelerator serves a crucial role in the European startup ecosystem by bridging the funding gap that often hinders innovative companies from reaching their full potential. By offering substantial financial backing and facilitating access to private sector investments, the program encourages entrepreneurs to pursue ambitious projects that address societal challenges, particularly in areas like climate change, digital transformation, and health.

Scaling and Private Sector Collaboration

The EIC Accelerator not only provides funding but also connects companies with a network of investors, mentors, and industry experts. This network aids in refining business strategies, enhancing market entry approaches, and attracting further private sector investments. The goal is to create a self-sustaining cycle where initial funding leads to growth, which in turn attracts larger investments, ultimately enabling companies to scale effectively.

Case Study: PLENESYS and the hyplasma Project

PLENESYS, a French company, emerged as a winner in the EIC Accelerator program with its project acronymed hyplasma. This project represents a significant advancement in hydrogen production technology, focusing on a clean and cost-competitive solution that operates near the end user.

Project Overview: hyplasma

The hyplasma project involves innovative plasma methane pyrolysis technology. This method allows for the conversion of methane into hydrogen and solid carbon without the production of carbon dioxide, addressing a critical environmental concern associated with traditional hydrogen production methods. The technology leverages a plasma reactor, which generates high temperatures to facilitate the breakdown of methane molecules, resulting in pure hydrogen and a valuable solid carbon byproduct.

Technology Fundamentals and Background

Plasma methane pyrolysis is a cutting-edge technology that utilizes the principles of plasma physics to achieve high-efficiency methane decomposition. In this process, methane gas is introduced into a plasma reactor, where it is subjected to an electrical discharge that creates a high-energy state. This state effectively breaks the chemical bonds in methane (CH4), yielding hydrogen (H2) and solid carbon (C).

This method offers several advantages over conventional hydrogen production techniques, such as steam methane reforming (SMR) and electrolysis:

The hyplasma project exemplifies the EIC Accelerator's commitment to fostering innovative technologies that contribute to a sustainable future. With the support of the EIC Accelerator, PLENESYS is positioned to make significant strides in the hydrogen economy, reinforcing the importance of clean energy technologies in combating climate change and promoting energy independence.

2 The Funding Rounds

Financing Raised

Plenesys, a French deeptech company specializing in plasma-based hydrogen production technologies, has raised funding through a combination of grants and convertible notes since its EIC Accelerator application in March 2023.

• EIC Accelerator Funding: In March 2023, Plenesys was selected for blended finance by the European Innovation Council (EIC) Accelerator. This included a grant of €2.5 million, with the potential for additional equity investment as part of the "blended finance" instrument.
• Convertible Note Rounds: As of September 11, 2024, Plenesys completed a convertible note round raising $70,000 (approximately €65,000). Across four rounds—including earlier seed and pre-seed activity—Plenesys has raised approximately $470K ($400K reported elsewhere), aside from EIC grant funding.

Funding Rounds: Timing and Amounts

Date	Round Type	Amount	Details/Investors
Mar 22, 2023	Grant (EIC)	€2.5 million	EIC Accelerator; Blended Finance
Sep 11, 2024	Convertible Note	$70K	Private investors/undisclosed
Pre-2023	Multiple rounds	~$400–470K	i-LAB Competition among others

The majority of non-EU grant financing appears to have been secured before or around the time of their major EU award in early-to-mid-2023.

Investor Information

Plenesys’s key investors include:

• European Innovation Council (EIC) Accelerator: Provided both grant and conditional equity commitment as part of blended finance.
• i-LAB Competition: Early-stage innovation competition/grant support.
• Hub71+ClimateTech: Listed among investors though details on timing are limited; possibly involved via accelerator support or strategic partnership.

Other private investors participated in small-scale convertible note offerings.

Company Valuations

There is no publicly stated valuation figure for Plenesys following these funding rounds. Given the modest size of convertible notes (~$70K most recently) and early-stage nature (less than €500k total outside EU grants), it is likely that valuations remain at an early venture stage typical for deeptech hardware startups post-seed but pre-Series A. No secondary market price or implied valuation data available.

Exit Events

As of May 2025:

• There have been no IPOs.
• No buyouts or acquisitions involving Plenesys have been reported.

The company remains independently operated by its founding team in Valbonne/Sophia Antipolis region near Nice in France.

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Summary Table: Major Fundraising Events Since EIC Submission

Date	Event/Funding Round	Amount
Mar 22, 2023	EIC Accelerator Grant & Blended Finance	€2.5M
Sep 11, 2024	Convertible Note	$70K
Various pre/post-EU

           Small seed/pre-seed fundraising rounds           ~$400–470K   |

No exit events or disclosed public valuations as yet.

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Sources: Plenesys company information – Dealroom Plenesys Stock Price & Funding – CB Insights UP!Rotterdam – Plenesys profile EIC Official Cut-off Results PDF March '23 CB Insights – Investors list and news About us – Plenesys.com

3 The Press Releases

PLENESYS: An EIC Accelerator Winner

Overview

Plenesys is a French company that specializes in developing cutting-edge plasma-based technologies. Founded in 2018, the company has made significant strides in the field of clean hydrogen production and industrial plasma processes. Plenesys was awarded funding through the European Innovation Council (EIC) Accelerator in the March 2023 cut-off.

Technology and Innovations

Plenesys focuses on using plasma technology for various industrial applications, including the production of clean hydrogen via plasma methane pyrolysis. This process involves the decomposition of methane to produce hydrogen and graphene, which is a more environmentally friendly method compared to traditional combustion processes. The company's products range from plasma generators to turnkey clean hydrogen production units, all based on their patented plasma technology.

Partnerships and Collaborations

One notable partnership involving Plenesys is with Pure Hydrogen, where they have developed the HyPlasma technology together. This technology uses natural gas and electrolysis to produce hydrogen and graphene. As part of this collaboration, Pure Hydrogen has begun constructing a demonstration site in Brisbane, Australia, utilizing equipment provided by Plenesys for methane pyrolysis hydrogen production.

Team and Expertise

Plenesys boasts a team of nine doctors and engineers with diverse specialties, contributing to its strong scientific background and innovative capabilities. Despite being a relatively young company, Plenesys has quickly become involved in large-scale projects, leveraging its team's extensive expertise.

Funding and Recognition

Receiving funding from the EIC Accelerator is a significant milestone for Plenesys, as it highlights the company's potential to bring groundbreaking innovations to the market. The EIC Accelerator supports start-ups and SMEs like Plenesys through grants and investments, helping them to commercialize their deep-tech innovations.

Press Releases and Updates

Currently, there are no specific press releases or blog posts on Plenesys' website or social media accounts detailing recent updates or partnerships beyond their involvement with Pure Hydrogen and the EIC funding.

Conclusion

Plenesys is at the forefront of plasma technology innovations, with a focus on sustainable hydrogen production and industrial processes. Its partnership with Pure Hydrogen and recognition through the EIC Accelerator underscore its commitment to developing cleaner and more efficient technologies.

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Sources:

• EIC Accelerator winners and statistics March 2023
• Plenesys
• Pure Hydrogen enters construction phase of methane pyrolysis site

4 The Technology Advancements

Plenesys: Current Capabilities and Advancements

Plenesys is a French company recognized for its innovative plasma-based technologies, particularly in the fields of clean hydrogen production and plasma torches. Since receiving the EIC Accelerator funding in March 2023, Plenesys has continued to develop and enhance its technologies, focusing on reducing carbon footprints while maintaining efficiency.

Current Capabilities

• Plasma Technologies: Plenesys specializes in plasma torches and clean hydrogen production through (bio)methane plasma pyrolysis. This process uses plasma to decompose methane into hydrogen and carbon, offering a cleaner alternative to traditional combustion methods.
• Team and Expertise: The company is staffed by a team of nine doctors and engineers with diverse specializations. This expertise has been crucial in driving the company's technological advancements and innovative products.

Advancements Since EIC Accelerator Funding

While specific details about advancements directly resulting from the EIC funding in March 2023 are limited, Plenesys's involvement in significant projects and partnerships indicates ongoing innovation and growth:

Partnerships and International Projects: Plenesys has partnered with Pure Hydrogen to develop the HyPlasma technology, which is being implemented in a methane pyrolysis site in Brisbane, Australia. This demonstrates the company's ability to apply its technology in international settings.

New Features and Demonstrations

Plenesys's focus on plasma-based technologies has led to the development of turnkey clean hydrogen production units and advanced plasma generators. However, there is no publicly available information on new features specifically introduced since the EIC funding. The company's participation in international projects suggests that its technology is being tested and validated in various contexts.

Patents and Scientific Publications

There is no specific information available about new patents filed or scientific studies published by Plenesys since receiving the EIC funding. The company's work is protected by patents and advanced know-how, reflecting its strong scientific foundation and commitment to innovation.

Conclusion

Plenesys continues to innovate in the field of plasma technologies, with a focus on clean hydrogen production. While the direct impact of the EIC Accelerator funding on specific new developments is not detailed, the company's involvement in international projects and its commitment to reducing carbon footprints highlight its ongoing commitment to advancing sustainable technologies.

Sources

• Plenesys: Homepage
• About - Plenesys
• Pure Hydrogen enters construction phase of methane pyrolysis site

5 The Partnerships and Customers

PLENESYS Post-EIC Accelerator Funding: Partnerships and Market Positioning PLENESYS, a French EIC Accelerator winner from the March 22, 2023 cut-off, specializes in plasma arc technology for turquoise hydrogen production. While direct customer or partnership disclosures specific to PLENESYS are not publicly available in the provided data, insights can be drawn from its EIC affiliation and industry trends.

The EIC Corporate Partnership Programme (e.g., collaborations with Holcim) demonstrates how EIC-backed companies typically leverage such networks to access corporate partners like ABB, Siemens Energy, or Shell for pilot projects and scaling opportunities. Though PLENESYS is not explicitly cited in these partnerships, its participation in similar EIC initiatives could facilitate engagements with energy firms seeking decarbonization technologies.

In technology positioning, PLENESYS’s high-temperature plasma pyrolysis process distinguishes it from competitors like Ekona Power (pulsed methane pyrolysis) and Hazer Group (iron-oxide catalysis). The company’s AC graphite electrode system achieves ~98% hydrogen purity, making it attractive for industrial partners requiring efficient carbon-neutral hydrogen solutions. Scaling through EIC funding likely accelerates reactor commercialization and cost reduction ($2/kg hydrogen target), enhancing market competitiveness against green hydrogen alternatives.

New relationships would position PLENESYS as a deep-tech innovator in sustainable energy infrastructure, aligning with EU priorities under Horizon Europe’s "Energy Storage" or "Emerging Semiconductor Components" challenges. Collaborations with construction firms (e.g., Holcim-like partnerships) could integrate byproduct carbon materials into low-emission cement—a growing market given graphene-enhanced cement innovations.

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Sources

• EIC Corporate Day with Holcim: Pioneering Innovation in Decarbonizing Buildings
• Plenesys - Products, Competitors
• The Commercialization Potential of Turquoise Hydrogen

6 The Hiring and Company Growth

Plenesys Team Growth and Hiring Strategy Post-EIC Accelerator Funding As a 2018-founded French cleantech innovator specializing in plasma-based hydrogen production and industrial decarbonization, Plenesys operates with a core team of 9 doctors and engineers, though its exact current headcount remains unspecified. The company’s hiring page (Join Us) actively seeks talent, emphasizing roles in R&D, mechanics, automation, and data science to advance its patented plasma pyrolysis technology.

While specific recent hires are not detailed publicly, the company’s listed team includes specialists such as Dr. Sajad Mozaffari (R&D Mechanical Engineer) and Mayssa Ben Slimene (R&D Data Scientist), reflecting a focus on scaling technical expertise. Their recruitment strategy prioritizes multidisciplinary scientists to enhance clean hydrogen production processes and expand commercial deployment of their plasma torch systems.

Growth metrics since receiving EIC Accelerator funding in March 2023 are not explicitly disclosed. However, Plenesys emphasizes rapid evolution through large-scale projects driven by its specialized team. The lack of public management changes suggests stability among co-founders Dr. Sabri Takali (CEO) and Dr. Ahmed Kacem (COO), with leadership continuity likely supporting ongoing R&D commercialization efforts.

New hires in automation engineering and data science indicate an operational shift toward optimizing production efficiency for industrial clients—critical for scaling their decarbonization solutions globally. As the industrial hydrogen market grows alongside stricter emissions regulations, Plenesys’ focus on recruiting advanced technical talent positions it competitively within sectors like green steel manufacturing and waste valorization.

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Sources

• About - Plenesys
• Plenesys: Homepage
• Global Market for Hydrogen Technology

7 The Media Features and Publications

PLENESYS: Pioneering Clean Hydrogen Production Through Plasma Innovation French deep-tech company PLENESYS, recognized as a March 2023 EIC Accelerator winner, develops plasma methane pyrolysis technology to produce clean hydrogen near end users. Their solution emphasizes cost competitiveness and environmental sustainability by leveraging patented plasma torch systems.

Company Profile

• Core Technology: Patented plasma-based methane pyrolysis process for decentralized hydrogen production, avoiding CO₂ emissions associated with traditional methods.
• Team: Composed of nine doctors and engineers specializing in plasma physics, engineering, and energy systems.
• EIC Funding: Awarded blended finance (grant + equity) under the March 2023 cut-off for projects in "New deep-tech technologies & ICT".

Post-Accelerator Visibility

While specific media features, podcasts, or conference participations are not publicly documented in the sources reviewed, PLENESYS’s EIC Accelerator win has positioned it as a key player in Europe’s clean hydrogen sector. The company’s website highlights its participation in large-scale projects and partnerships but does not detail specific events or interviews.

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Sources

• EIC Accelerator winners and statistics March 2023 - Strata.team
• These are the winners of EIC Accelerator's second 2023 call - EurA AG
• Plenesys: Homepage