The Vienna-based heat pump company ecop has received €2.5 million in grant funding from the European Innovation Council (EIC) Accelerator, as well as up to €6 million in equity investment. ecop will use the fresh grant funding to scale the production of its rotation heat pump, Tech.eu informs.
- ecop is a high-tech company that manufactures rotation heat pumps for industrial use. The company claims that it supports companies in recovering energy, protecting the environment, and saving costs, with direct output temperatures up to 200 °C.
- The design is based on a rotating system that uses a 100 percent climate friendly, non-toxic and non-flammable working medium and can change speed to accommodate different heat source temperatures, enabling a high degree of flexibility in operation, according to the company’s data.
- ecop is located in Vienna and in Neuhofen an der Krems. The development centre is located in Vienna, while production takes place in Upper Austria.
“The EU’s innovation ecosystem has been an integral source of support as ecop has developed our technology and our business.
This funding will enable us to finalise the development of our new rotor design and take the next step in scaling up, making our heat pump solution more broadly available, and ultimately enabling more companies and municipalities to generate affordable and CO2-free heat to sustainably power their operations,”
Fabian Sacharowitz, CEO of ecop, commented.
The fresh funding includes €2.5 million in grant from the European Innovation Council (EIC) Accelerator, as well as up to €6 million in equity investment. EIC Accelerator awards grants of up to €2.5 million, alongside equity investments, to deep-tech start-ups and small companies in a highly competitive process.
The company will spend the freshly acquired funding to increase the production capacity of its rotation heat pump.
