1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a pivotal initiative designed to support innovative Small and Medium-sized Enterprises (SMEs) and start-ups in Europe, particularly those operating within the DeepTech sector. Launched as part of the Horizon Europe framework, the EIC Accelerator aims to bridge the funding gap that often hinders the growth of highly innovative companies. The program offers blended finance, which combines both grants and equity investments, to facilitate the development and commercialization of groundbreaking technologies.

Funding Structure

Under the EIC Accelerator program, companies can receive substantial financial support through two primary funding mechanisms: grants and equity investments.

Purpose and Impact

The EIC Accelerator serves a dual purpose within the European DeepTech and start-up ecosystem. Firstly, it fosters innovation by offering financial support to companies that are developing technologies with the potential to disrupt markets and address societal challenges. Secondly, it enhances the attractiveness of these companies to private investors by validating their business models and providing them with the necessary resources to achieve milestones that can lead to further funding.

By catalyzing early-stage innovation, the EIC Accelerator plays a crucial role in helping companies scale their operations. The program not only provides financial resources but also offers mentorship, coaching, and access to a network of industry experts and investors. This holistic approach ensures that start-ups are better prepared to attract follow-on investments from private sectors, increasing their chances of long-term success.

Case Study: SusPhos B.V. and the SusPhos Project

Company Overview:
SusPhos B.V., based in the Netherlands, was a recipient of the EIC Accelerator funding, submitting its Step 2 proposal on June 15, 2022. The company focuses on sustainable solutions in the field of phosphate recovery.

Project Overview:
The SusPhos project is designed to create the first economically viable process for phosphate recovery. Given the increasing global demand for phosphorus in agricultural applications, the project addresses both an environmental and an economic challenge. Traditional phosphate mining is not only resource-intensive but also poses significant environmental risks, including pollution and habitat destruction.

Technology Background:
The technology underlying the SusPhos project revolves around an innovative method for recovering phosphates from various waste streams, particularly agricultural runoff and wastewater. The process involves advanced separation techniques that efficiently extract phosphates, allowing for their reuse in fertilizers and other agricultural products. This not only reduces the dependence on mined phosphates but also mitigates the environmental impact associated with phosphate waste.

The technology is built on principles of circular economy and sustainability, aiming to close the nutrient loop by ensuring that phosphorus is recycled and reused rather than lost to waste. By implementing this process, SusPhos B.V. not only contributes to sustainable agriculture but also aligns with broader European Union goals of reducing waste and improving resource efficiency.

Conclusion

The EIC Accelerator program stands as a vital resource for innovative companies like SusPhos B.V. By providing blended finance options that include significant grants and equity investments, the program empowers start-ups to tackle pressing challenges through groundbreaking technologies. The success of the SusPhos project exemplifies the program’s impact in fostering sustainable solutions that benefit both the economy and the environment, reinforcing the essential role of innovation in driving progress within the European landscape.

2 The Funding Rounds

SusPhos B.V. – Financing and Funding Overview Since EIC Accelerator Success

Company: SusPhos B.V.
Country: Netherlands
EIC Accelerator Step 2 Submission and Win Date: June 15, 2022

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Financing Raised & Funding Rounds

Since receiving the EIC Accelerator funding, SusPhos B.V. has actively secured additional fundraising to accelerate its growth in sustainable phosphate recycling technology.

• November 2019: Innovatiefonds Noord-Holland provided €300,000 in early-stage funding.
• June 2022: The European Innovation Council (EIC) awarded a €2.5 million grant as part of the prestigious EIC Accelerator program.
• October 2022: Another round of €2.5 million was recorded; however, specific investor details were not publicly disclosed.
• March 2023: A significant round was closed at $13.4 million (~€12.5 million), with investor information not detailed in public sources.

Timing and Amounts of Funding Rounds

Date	Amount Raised	Source/Investor
Nov 2019	€300,000	Innovatiefonds Noord-Holland
Jun 2022	€2,500,000	European Innovation Council
Oct 2022	€2,500,000	Not specified
Mar 2023	$13,400,000 (~€12.5M)	Not specified

Investor Information

The only specifically named investors are:

• Innovatiefonds Noord-Holland (Nov 2019)
• European Innovation Council (Jun 2022)

Other rounds (Oct 2022 and Mar 2023) do not have publicly disclosed investors as of April 30th, 2025.

Company Valuations

No specific company valuation figures for any round are available in public databases or reports through April 30th of 2025.

Exit Events: IPOs or Acquisitions

There is no evidence that SusPhos B.V. has undergone an exit event such as an IPO or acquisition since June 15th of 2022 through the current date.

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Summary Table: Key Financial Milestones Since June 15th of 2022

Event	Date	Amount
EIC Grant	Jun 15 22	€ 2.5M
Undisclosed Round	Oct 22	€ 2.5M
Major Round	Mar 23	$13.4M (~€12.5M)

Additional Notes

SusPhos continues to develop its large-scale phosphate recycling plant ("SusPhos One"), which remains under design with a planned operational launch by the year 2027. No exit events have taken place; all major rounds beyond the EIC grant lack full transparency on participating investors.

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Sources: - SusPhos company information – Dealflow.eu

• SusPhos company information – StartUp Luxembourg Directory
• SusPhos official website

3 The Press Releases

SusPhos B.V.: Advancements in Sustainable Phosphate Recycling Post-EIC Accelerator Funding

Since securing EIC Accelerator funding in June 2022, Dutch cleantech company SusPhos B.V. has accelerated its mission to transform phosphate-rich waste into high-value products through circular economy solutions. Below are key developments from press releases, partnerships, and technological milestones:

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Partnerships & Collaborations

• SNB Moerdijk Facility: Partnered with Europe’s largest sludge incinerator, N.V. Slibverwerking Noord-Brabant (SNB), to build a first-of-its-kind phosphate recycling plant at the Moerdijk industrial estate.
• Bilfinger Engineering: Collaborated on engineering and consultancy services for their flagship "SusPhos One" plant, including conceptual design, permitting, and environmental impact assessments.
• TNO Battery Recycling Initiative: Announced a joint project in January 2025 with Dutch research organization TNO to recover lithium, phosphorus, aluminum, and copper from lithium iron phosphate (LFP) batteries using integrated recycling technologies.

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Technology & Infrastructure Milestones

• SusPhos One Plant: A 40 kton/year facility currently in design phase (operational by 2027), aiming to recover phosphate from sewage sludge ash for fertilizers and cement additives. The process eliminates wastewater discharge and reduces CO₂ footprint compared to fossil-based alternatives.
• Multi-Patented Process: Developed methods for upcycling phosphorus waste into flame retardants and specialty fertilizers while recovering all byproducts without residual waste. The technology won a CES® 2024 Innovation Award for circular solutions.

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Leadership & Funding

• CEO Marissa de Boer: UvA PhD graduate and Amsterdam Science & Innovation Award winner leads the company’s expansion into large-scale recycling markets.
• Innovation Fund Noord-Holland: Secured early-stage funding in 2019 to pilot its technology before scaling post-EIC Accelerator support.

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Future Outlook

SusPhos aims to establish global standards for circular phosphate management while diversifying into battery material recovery. Its collaborations with SNB and Bilfinger underscore commercial readiness as it transitions from R&D to full-scale production by 2027.

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Sources

CES® 2024 Innovation Award | Website | Slibverwerking Noord-Brabant Partnership | TNO Collaboration | Bilfinger Partnership | Innovation Fund Loan

4 The Technology Advancements

SusPhos B.V.: Current Capabilities and Advancements

SusPhos B.V., a Netherlands-based company, focuses on transforming phosphate-rich waste streams into valuable products, contributing to a circular economy. Since receiving the EIC Accelerator funding in June 2022, SusPhos has made significant advancements in technology, market demonstration, and strategic partnerships.

Current Capabilities

• Technology: SusPhos employs a patented process that extracts phosphate from waste streams like sewage sludge ash, converting it into high-quality fertilizers, flame retardants, and other products. Their technology ensures over 80% phosphate recovery without generating waste, minimizing emissions and chemical usage.
• Market Impact: By upcycling waste, SusPhos reduces the reliance on fossil-sourced materials, supporting sustainable agriculture and industries like cement and fire retardants. This approach helps create "urban mines" for valuable raw materials.

Advancements Since EIC Accelerator Funding

• Partnerships and Projects: SusPhos has partnered with Europe's largest sludge incinerator, Slibverwerking Noord-Brabant (SNB), to build a first-of-its-kind phosphate recycling factory in Moerdijk. This facility, planned to be operational by 2027, will showcase SusPhos' technology on a full scale.
• New Features and Technology Improvements: The company has refined its process through years of successful lab experiments and pilot testing. SusPhos has also expanded its scope by collaborating with TNO to develop a sustainable recycling process for Lithium Iron Phosphate (LFP) batteries, aiming to recover critical materials like lithium and phosphate.

Market Demonstration and Technology

• Pilot and Demonstrators: SusPhos conducted a pilot operation in Leeuwarden, using sewage sludge incineration ash and other phosphate-rich materials. This pilot demonstrated the feasibility and efficiency of their technology.
• Full-Scale Implementation: The upcoming full-scale plant in Moerdijk will further demonstrate the market readiness and scalability of SusPhos' technology.

Patents and Publications

• Patents: While specific new patent filings are not detailed in the available information, SusPhos' technology is multi-patented, indicating ongoing innovation and protection of its intellectual property.
• Publications: There is no recent information on new scientific studies or whitepapers published by SusPhos specifically since the EIC funding. However, the company's progress and partnerships suggest continued research and development efforts.

Sources

• SusPhos – Making Phosphate Sustainable
• Technology – SusPhos
• Recovering Critical Raw Materials from LFP Batteries - TNO
• SusPhos company information, funding & investors - Dealflow.eu
• SusPhos - European Sustainable Phosphorus Platform
• SusPhos partners with Europe's largest sludge incinerator to build first-of-its-kind phosphate recycling factory
• Spin-off company SusPhos wins 'Challenger50'
• EU grants SusPhos with funding for upcycling solution
• Innovation Fund Noord-Holland invests in SusPhos technology for phosphate recycling

5 The Partnerships and Customers

SusPhos B.V.: Partnerships and Market Positioning Since EIC Accelerator Funding

SusPhos B.V., a Netherlands-based company, has been actively advancing its innovative phosphate recycling technology since receiving the EIC Accelerator funding in June 2022. The company has established significant partnerships and continues to expand its market presence, focusing on sustainability and circular economy solutions.

Partnerships and Entities

New Relationships

The partnerships with Bilfinger and SNB are pivotal in advancing SusPhos's phosphate recycling technology, while the collaboration with TNO marks a new direction in battery recycling. These relationships position SusPhos as a leading player in the circular economy, particularly in the recycling of critical materials.

Nature and Purpose of Relationships

• Technological Advancements: The partnership with TNO leverages both companies' expertise to develop a sustainable recycling process for LFP batteries, enhancing SusPhos's capabilities in recovering critical materialstno.nl.
• Scaling and Market Expansion: The collaboration with Bilfinger and SNB aids in scaling SusPhos's phosphate recycling technology, with plans for broader European and global implementationbilfinger.com.

Market Positioning

SusPhos's partnerships and technological advancements solidify its position as a pioneer in circular phosphate management and sustainable resource recovery. By transforming waste into valuable products, SusPhos enhances its market presence and contributes to reducing environmental impact.

Technology Advancements and Scaling

The company's technology is designed to recover over 80% of phosphate from waste streams like sewage sludge ash, producing circular products for the fertilizer and cement industriessusphos.com. The ongoing development and implementation of these technologies are crucial for scaling SusPhos's operations and meeting growing market demands for sustainable materials.

Sources:

• SusPhos – Making Phosphate Sustainable
• Bilfinger and SusPhos work as partners on ambitious sustainability project
• SusPhos and TNO partner to develop viable recycling process for LFP batteries
• Technology – SusPhos
• SusPhos partners with Europe’s largest sludge incinerator to build first-of-its-kind phosphate recycling factory
• Recovering Raw Materials from Batteries

6 The Hiring and Company Growth

SusPhos B.V. Team and Hiring Overview Post-EIC Accelerator Funding Since winning EIC Accelerator funding in June 2022, SusPhos has focused on scaling its operations, particularly through the development of its SusPhos One plant, a full-scale phosphate recycling facility planned for operational launch by 2027. While specific details about current headcount or recent hires are not publicly disclosed, the company’s growth trajectory is evident in its project milestones and industry recognition.

• Team Growth: The company’s expansion aligns with its technical milestones, including advancing its proprietary phosphate recovery technology and securing partnerships for large-scale waste-to-product conversion.
• Key Positions: Leadership includes co-founder Chris Slootweg (scientific advisor), with Marissa de Boer prominently involved in operational roles. Publicly listed roles focus on engineering, sustainability, and project management for the SusPhos One facility.
• Future Scaling: New team members likely support R&D commercialization and plant deployment. The technology’s shift from pilot to full-scale operations implies hiring across engineering, logistics, and regulatory compliance roles to meet 2027 targets.
• Management Stability: No major leadership changes reported since 2022. The founding team remains active in strategic roles.

While direct hiring announcements or current team size are unavailable post-EIC funding, SusPhos’ partnership-driven approach (e.g., collaborations for ash-to-phosphate projects) suggests ongoing recruitment to meet operational demands as it transitions into a commercial-phase enterprise.

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Sources
SusPhos – Making Phosphate Sustainable
HIMS News Valorisation - Van 't Hoff Institute for Molecular Sciences
TEDxAUCollege - TED Talks

7 The Media Features and Publications

SusPhos B.V. Overview

SusPhos B.V., a pioneering company from the Netherlands, has been making significant strides in sustainable phosphate management since receiving the European Innovation Council (EIC) Accelerator funding on June 15, 2022. Founded with the goal of transforming waste into valuable products, SusPhos focuses on recovering phosphates from waste streams, such as sewage sludge ash and agricultural waste, to produce high-quality, commercially viable products.

Media Features and Publications

SusPhos has been featured in several publications for its innovative approach to phosphate recovery. These include mentions in ScienceLink, highlighting the company's ability to extract valuable components from waste without generating additional waste. The company's technology and its potential to create a circular economy have also been discussed in various sustainability-focused media outlets.

Content from Publications

Publications have praised SusPhos for its pioneering phosphate recycling technology, which transforms waste into valuable products like fertilizers and cement. The company's commitment to sustainability and its role in reducing CO2 emissions have been particularly noted.

Podcasts and Interviews

While specific podcasts or interviews featuring the SusPhos team are not widely documented, the company's CEO, Marissa de Boer, has shared insights into the company's mission and vision through various media platforms. Her entrepreneurial background and expertise in phosphate chemistry have contributed significantly to the company's success.

Conference and Fair Visits, Presentations

SusPhos has been involved in several sustainability and environmental conferences, although specific details on recent presentations are limited. The company's participation in events related to the European Sustainable Phosphorus Platform underscores its commitment to sharing knowledge and advancing circular phosphorus management.

Involvement in Events

SusPhos's involvement in events often revolves around showcasing its innovative phosphate recovery technologies. The company collaborates with other water technology companies in the Netherlands to promote sustainable practices in waste management and resource recovery.

Partnerships and Projects

Recent partnerships include a collaboration with Bilfinger to provide consultancy and engineering services for a phosphate recycling plant in the Netherlands. This partnership highlights SusPhos's expansion plans and its commitment to sustainable industrial practices.

Conclusion

Since receiving the EIC Accelerator funding in June 2022, SusPhos B.V. has continued to innovate in the field of phosphate recovery, pushing towards a more circular economy. The company's focus on transforming waste into valuable products without generating waste aligns with global sustainability goals.

Sources

• SusPhos – Making Phosphate Sustainable
• Technology – SusPhos
• 'High quality phosphate production and less trouble ... - ScienceLink'
• Bilfinger and SusPhos work as partners on ambitious sustainability ...
• Chris Slootweg heads new sustainability journal - HIMS
• Circular phosphorus chemistry and knowledge transfer from one ...