1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator is a key component of the European Innovation Council (EIC) aimed at supporting innovative small and medium-sized enterprises (SMEs) and startups with high growth potential. The program is particularly focused on deep-tech solutions and aims to bridge the gap between research and commercialization. It offers a unique blend of funding options, mentorship, and networking opportunities, making it an integral part of the European startup ecosystem.

Funding Structure

The EIC Accelerator offers a grant of up to €2.5 million. This funding is aimed at covering the costs associated with the development of innovative products or services, particularly in the early stages of commercialization. The grant can be used for R&D, prototyping, testing, and pilot projects.

The program also provides equity financing of up to €15 million until 2024, and up to €10 million starting in 2025. This funding is provided in exchange for equity stakes in the companies, allowing them to scale without the burden of immediate repayment. This flexible model supports companies in achieving significant growth while attracting private investors.

Purpose in the European DeepTech and Startup Ecosystem

The EIC Accelerator plays a crucial role in fostering innovation within the European deep-tech sector. Its primary objectives include:

• Promoting Innovation: By providing financial support, the EIC Accelerator encourages the development of breakthrough technologies and innovative solutions that can address societal challenges.
• Boosting Competitiveness: The program aims to enhance the global competitiveness of European startups, helping them to bring cutting-edge technologies to market.
• Encouraging Collaboration: The EIC Accelerator fosters collaboration between startups, industry, academia, and public entities, creating a vibrant ecosystem that nurtures innovation.

Role in Scaling and Securing Funding

The EIC Accelerator not only provides direct funding but also plays a vital role in helping companies scale by:

• Networking Opportunities: Winner companies gain access to a network of potential investors, partners, and mentors, enabling them to form strategic alliances.
• Investor Readiness: The program prepares startups to engage with private investors by providing coaching and support in developing strong business cases.
• Follow-on Funding: By securing EIC funding, companies increase their attractiveness to private investors, thereby facilitating additional funding rounds.

Summary of EIC Accelerator Winner: STABL Energy GmbH

• Company Name: STABL Energy GmbH
• Project Acronym: SMART BATTERY
• Description: The SMART BATTERY project focuses on increasing the efficiency, sustainability, and lifecycle of battery systems through advanced module-level power electronics.
• Funding Type: Blended finance
• Website: stabl.com
• Country: Germany
• Cut-off Date for Proposal: June 16, 2021

Project Details: SMART BATTERY

The SMART BATTERY project by STABL Energy GmbH aims to revolutionize battery technology by integrating advanced module-level power electronics. This innovative approach seeks to enhance the overall performance and longevity of battery systems, which are essential for various applications, including electric vehicles, renewable energy storage, and portable electronics.

Technology Basics and Background

1. Battery Systems:

Battery systems are essential for energy storage, enabling the efficient use of renewable energy sources like solar and wind power. They are also critical for electric vehicles, where performance and lifecycle are paramount.

2. Module-Level Power Electronics:

Traditional battery systems often use centralized power management, which can lead to inefficiencies and reduced battery life. STABL’s approach involves integrating power electronics at the module level, allowing for more precise control over battery performance.

3. Efficiency Improvements:

By optimizing how energy is distributed and managed within the battery, STABL Energy GmbH aims to achieve significant improvements in energy efficiency, which can lead to longer battery life and reduced costs over time.

4. Sustainability:

The project also focuses on sustainability by utilizing materials and processes that minimize environmental impact, aligning with the European Union's goals for a greener economy.

In summary, STABL Energy GmbH’s SMART BATTERY project represents a significant advancement in battery technology, addressing critical issues of efficiency and sustainability in a rapidly evolving market. The support from the EIC Accelerator will enable STABL to bring this innovative solution to a broader market, ultimately contributing to the transition to sustainable energy systems.

2 The Funding Rounds

Since receiving the EIC Accelerator funding on June 16, 2021, STABL Energy GmbH has secured two significant funding rounds:

• Amount and Timing: In October 2021, STABL Energy completed a €4.5 million seed financing round.
• Investors: The round was led by the Smart Energy Innovation Fund of Energie 360°, with participation from UVC Partners, the Initiative for Industrial Innovators, and various business angels. (stabl.com)
• Use of Funds: The capital was allocated towards product development, certification, and team expansion.

• Amount and Timing: In August 2023, STABL Energy secured €15 million in a financing round.
• Investors: The round included new investments from Nordic Alpha Partners' Northern European Growth Fund and the European Innovation Council (EIC) Fund. Existing investors, such as UVC Partners with the Unternehmertum VC Fund III and the Smart Energy Innovation Fund of Energie 360°, also participated. (stabl.com)
• Use of Funds: The funds were intended to expand the customer base and further develop the technological infrastructure.

Regarding company valuations, specific figures for these funding rounds are not publicly disclosed. However, according to Munich Startup, STABL Energy's enterprise valuation is estimated between €18 million and €27 million. (munich-startup.de)

In summary, since June 2021, STABL Energy GmbH has raised a total of €19.5 million across two funding rounds, with investments from both new and existing investors, to support its growth and technological advancements.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, STABL Energy GmbH has published several press releases detailing their advancements, partnerships, and achievements. Below is a summary of these press releases:

1. Seed Financing of €4.5 Million (October 18, 2021): STABL Energy successfully completed a financing round of €4.5 million, led by Energie 360°’s Smart Energy Innovation Fund, with UVC Partners joining as a new investor. Existing investors, including the Initiative for Industrial Innovators and various business angels, also participated. The funds are allocated for product development, certification, and team expansion. (stabl.com)

2. Implementation of First Second-Life Storage System (October 18, 2021): STABL Energy installed its first second-life storage system, utilizing 24 used battery modules from old KIA Soul EVs, totaling 72 kWh. This project, in collaboration with partners like encore, inno2grid, and Dellcon, showcases the company's commitment to sustainable energy solutions. (stabl.com)

3. €15 Million Funding Round (August 9, 2023): The company secured €15 million in funding, marking one of the largest growth financing rounds in the DACH region for 2023. New investors include Nordic Alpha Partners’ Northern European Growth Fund and the European Innovation Council (EIC) Fund. Existing investors, such as UVC Partners and the Smart Energy Innovation Fund of Energie 360°, also participated. The capital is intended for customer base expansion and technological infrastructure development. (stabl.com)

4. Strategic Partnership with NOVUM Engineering (May 31, 2024): STABL Energy announced a strategic partnership with NOVUM Engineering GmbH, a Dresden-based company specializing in battery diagnostics. This collaboration aims to enhance the quality and safety of industrial energy storage systems, emphasizing the sustainable use of batteries in the energy industry. (novum-engineering.com)

5. Strategic Partnership with ACCURE Battery Intelligence (June 12, 2023): STABL Energy partnered with ACCURE Battery Intelligence, an Aachen-based provider of battery analytics software. This alliance focuses on integrating second-life storage solutions with AI-driven battery analytics to promote sustainability throughout the battery lifecycle. (pressebox.com)

These press releases highlight STABL Energy's commitment to advancing sustainable energy storage solutions, securing significant investments, and forming strategic partnerships to drive innovation in the industry.

4 The Technology Advancements

STABL Energy GmbH, based in Munich, Germany, specializes in developing energy storage systems utilizing discarded electric vehicle (EV) batteries, commonly known as second-life batteries. Their innovative technology enables the safe and efficient integration of these batteries into stationary storage solutions, thereby extending their lifecycle and contributing to the energy transition. (stabl.com)

Advancements Since EIC Accelerator Funding on June 16, 2021:

Since receiving the EIC Accelerator funding in June 2021, STABL Energy has achieved several significant milestones:

In August 2023, STABL Energy successfully completed a €15 million financing round, securing investments from Nordic Alpha Partners and the European Innovation Council. This funding has been instrumental in advancing their technology and expanding their market presence. (stabl.com)

STABL Energy has developed the SI100, a modular multi-level converter for battery storage systems. This technology replaces traditional battery inverters, achieving a conversion efficiency of up to 99.4%. The SI100 allows for the integration of battery modules with varying residual capacities, making it particularly suitable for second-life applications. (etn.news)

The company has implemented its first second-life storage system, consisting of 24 used battery modules from old KIA Soul EVs, totaling 72 kWh. This system is operational at the Euref Campus and serves as a public demonstration of their technology. (stabl.com)

• In May 2024, STABL Energy partnered with NOVUM engineering GmbH to enhance the quality and safety of their industrial energy storage systems. This collaboration underscores their commitment to sustainable battery usage in the energy sector. (pressebox.com)
• In March 2025, they initiated a strategic partnership with Nobina, a public transportation company, to repurpose decommissioned bus batteries for energy storage systems. This partnership aims to develop sustainable solutions by extending the lifecycle of bus batteries and enhancing energy security. (prnewswire.co.uk)

In May 2022, STABL Energy's SI100 technology won the ees AWARD, recognizing its innovative approach to energy storage and its potential impact on the industry. (etn.news)

STABL Energy has filed patents related to their modular battery storage system, indicating ongoing research and development efforts to refine their technology. (freepatentsonline.com)

These developments highlight STABL Energy's commitment to advancing energy storage solutions, particularly through the innovative use of second-life EV batteries, thereby contributing to a more sustainable and efficient energy infrastructure.

5 The Partnerships and Customers

Since receiving EIC Accelerator funding on June 16, 2021, STABL Energy GmbH has established several significant partnerships and secured new customers, enhancing its position in the market and advancing its technological capabilities.

New Partners:

New Customers:

Nature and Purpose of Relationships:

• ISA Partnership: The collaboration with ISA focuses on integrating sustainable energy solutions within educational institutions, demonstrating a commitment to environmental responsibility and setting a precedent for other schools.
• NOVUM Engineering Collaboration: This partnership aims to enhance the safety and reliability of STABL's energy storage systems through advanced battery diagnostics, ensuring high-quality industrial applications.
• ACCURE Alliance: By combining ACCURE's battery analytics with STABL's second-life battery storage solutions, the partnership seeks to optimize battery performance and extend their lifecycle, promoting sustainability.
• Infineon Integration: Utilizing Infineon's MOSFETs allows STABL to efficiently integrate retired EV batteries into stationary storage systems, reducing CO₂ emissions and operational costs.
• Nordic Alpha Partners Investment: The funding from Nordic Alpha Partners provides STABL with the resources to scale operations, expand internationally, and further develop its innovative battery storage technology.

Market Positioning and Technological Advancements:

These partnerships and investments position STABL Energy as a leader in sustainable energy storage solutions, particularly in the second-life battery market. Collaborations with established entities like ISA, NOVUM, and ACCURE enhance the company's credibility and market reach. The integration with Infineon Technologies and the support from Nordic Alpha Partners bolster STABL's technological capabilities and financial stability, enabling the company to scale operations and advance its mission of promoting renewable energy adoption.

Through these strategic relationships, STABL Energy GmbH is well-positioned to drive innovation in the energy storage sector, contributing significantly to the global transition towards sustainable energy solutions.

6 The Hiring and Company Growth

Since receiving the EIC Accelerator funding on June 16, 2021, STABL Energy GmbH has demonstrated significant growth and expansion.

Current Team Size and Hiring Status:

As of October 2024, STABL Energy employed approximately 68 individuals across two continents, including Europe and Asia. (leadiq.com) The company has been actively recruiting to support its growth, with recent job postings for positions such as Head of Quality, Senior Hardware Developer, and People Manager. (talents.studysmarter.de, salary.com, getbaito.com)

Growth and Recent Hires:

In August 2023, STABL Energy secured a €15 million financing round, marking one of the largest growth financings in the DACH region for that year. (stabl.com) This funding is intended to expand the customer base and further develop the technological infrastructure.

Key Positions and Strategic Impact:

• Head of Quality: This role focuses on shaping and implementing the company's quality strategy, fostering collaboration between engineering and operations teams, and driving continuous improvement initiatives. (talents.studysmarter.de)
• Senior Hardware Developer: Responsible for designing and developing hardware solutions for battery storage systems, with an emphasis on power electronics and compliance testing. (salary.com)
• People Manager: Oversees HR operations, including talent acquisition, onboarding, and employee development, ensuring a positive and efficient work environment. (getbaito.com)

These strategic hires are expected to enhance STABL Energy's operational efficiency, product development capabilities, and overall market competitiveness, thereby supporting the company's scaling and growth objectives.

Management and Founding Team Developments:

As of October 2024, key members of STABL Energy's leadership include:

• Chief Commercial Officer (CCO): R. D.
• Head of Marketing & Communications (interim): M. B.
• Head of Sales: L. J. U.
• Head of People & Culture: M. W.

These leadership roles are integral to driving the company's strategic initiatives and fostering a culture of innovation and excellence. (leadiq.com)

In summary, since receiving the EIC Accelerator funding, STABL Energy GmbH has experienced substantial growth, expanded its team with key strategic hires, and secured significant funding to advance its mission in the energy sector.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, STABL Energy GmbH 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:

• August 9, 2023: STABL Energy secured €15 million in financing to advance its used car battery technology for efficient energy storage. The funding round was led by Nordic Alpha Partners and the European Innovation Council, with participation from existing investors. (startbase.com)
• August 9, 2023: UVC Partners highlighted STABL Energy's €15 million financing round, emphasizing the company's innovative approach to utilizing used electric vehicle batteries for energy storage, contributing to a sustainable circular economy. (uvcpartners.com)
• August 10, 2023: Renewables Now reported on STABL Energy's €15 million funding to support its commercial expansion and further development of battery storage technology, focusing on the company's unique approach to building energy storage systems using old electric vehicle batteries. (renewablesnow.com)
• May 15, 2024: PresseBox announced STABL Energy's collaboration with NOVUM engineering GmbH to enhance the quality and safety of industrial energy storage systems, underscoring the joint commitment to sustainable battery use in the energy industry. (pressebox.com)
• September 29, 2024: FYB Financial Yearbook reported on the EIC Fund's investment in STABL Energy GmbH, highlighting the company's development of energy storage systems from discarded vehicle batteries and the aim to increase the use of renewable energies while extending the life cycle of car batteries. (fyb.de)

Podcasts and Interviews:

August 17, 2023: Dr. Nam Truong, Co-Founder and CEO of STABL Energy, was featured on The smarter E Podcast, discussing the role of second-life batteries in achieving a net-zero energy system and the challenges associated with their integration. (ees-europe.com)

Conferences and Trade Fairs:

June 19–21, 2024: STABL Energy participated in The smarter E Europe 2024 trade fair in Munich, showcasing their latest storage solutions and engaging with industry experts and visitors. (stabl.com)

Strategic Partnerships:

May 15, 2024: STABL Energy announced a partnership with NOVUM engineering GmbH to enhance the quality and safety of industrial energy storage systems, emphasizing the sustainable use of batteries in the energy industry. (pressebox.com)

These activities and media features highlight STABL Energy GmbH's ongoing efforts to advance sustainable energy storage solutions and their active participation in the energy transition.