In July 2018 we received funding from the European Union’s Horizon2020 research and innovation pgrogramme under grant agreement No 830698. Of the 1658 applications that were submitted for the SME programme phase 2 only 65 proposals received funding, Alginor among them. The programme has a success rate of less than 4 %, which is why it is often referred to as the “champions league”.
The project has been granted a cash infusion of € 1.9 million to implement our business plan, and the total project cost is € 2,77 million. Project startup was in September 2018 and the project duration is 18 months. The specific project goal is to verify our entire AORTA technology through piloting, marketing and commercialisation, and to be ready for an investment decision regarding the biorefinery after project end.
Our vision and business plan have received a stamp of approval from the EU, which helps us move forward in the blue growth sector with a technology that focuses on the environment, resource efficiency and value creation. Project manager Kjetil Øie Kristiansen will drive the project forward in cooperation with all Alginor employees.
Alginor already received a grant from SME phase 1 in 2017.
The project is moving forward according to plan.