Four Finnish companies awarded EU funding
A quartet of Finnish companies has received a grant of 50 000 euros each from the EU’s biggest research and innovation funding scheme, Horizon 2020.
The companies include Oceanvolt from Vantaa, which develops electric transmission systems that can replace diesel motors in sailboats and therefore significantly reduce greenhouse gas emissions and save on fuel costs.
Meanwhile, Brightplus, from Finland’s tech hub Oulu hopes to spread globally their innovative new way to use nanomaterials in the field of advanced manufacturing and processing technology.
Fast-Beam from Klaukkala are revolutionising bridge repairs with their own method that is expected to halve the work load and time, and reduce non-recyclable waste by up to 90 per cent.
And last but not least, CosmEthics from Helsinki has developed an application that can identify harmful ingredients in cosmetic products. The application can also be used to find or avoid cosmetics that are sensitive to certain allergies or are vegan-friendly.
Altogether, this latest round of Horizon 2020 funding attracted more than 1 938 applications from 40 countries. Some 9.1 million euros in total was awarded to 189 innovative small and mid-sized companies.
Previous Finnish grant receivers include Indoor Atlas with a formidable 2.2 million euro grant and Inray, which received 1.2 million euros in funding.