Ecofoot among the first 64 companies financed by the Green Deal
The first funding granted by the European Innovation Council (CIS) under the European Ecological Pact was given to Ecofoot, from Guimarães, which developed H2COLOR-AUX, a revolutionary compound that prevents hydrolysis in the textile dyeing process, thereby considerably reducing the number of washes and water and energy costs, pollutants and paint production time.
The Portuguese company is among 64 start-up companies and SMEs (from 17 EU Member States) elected to receive more than 307 million euros in order to contribute to the objectives of the European Ecological Pact and the Recovery Plan for the Europe.
In addition to Ecofoot, the winning proposals include everything from innovative solutions for the automotive, aerospace and marine sectors to advanced materials or IoT technologies.
The financing now allocated will allow Ecofoot to proceed to the second phase of the innovation project, which will bring the H2COLOR-AUX solution closer to its commercial launch. As well as executing the brand’s intellectual property and communication strategy.
For now, the company will produce 24 tons of this compound for internal validation and validation of its effectiveness with three dye shops: two in Portugal and one in Italy. The project will also allow for crucial commercial activities, including
In addition, the CEI has awarded 562 Ecological Pact Seals of Excellence to start-up companies and SMEs to help them access financing from other sources.
The European Innovation Council is currently in a pilot phase of 3.3 billion euros, expected to be at cruising speed in 2021, under the new Horizon Europe program.
