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The European Commission selects AlgaEnergy as one of the 6 SMEs with the greatest growth potential in Europe
22 November, 2016The European Commission selects AlgaEnergy as one of the 6 SMEs with the greatest growth potential in Europe
The European Commission, through the Executive Agency for Small and Medium Enterprises (EASME), has selected AlgaEnergy as one of the SMEs with the greatest growth potential on the continent, within the framework of the Horizon 2020 European Strategic Development Program.
The company was already pre-selected at the end of 2014, accessing Phase I of the exclusive SME Instrument program, a milestone that resulted in a 50 k Euros non-reimbursable grant in addition to some coaching sessions, resources that had to be invested in increasing the consistency of its business plan. After two years of analysis process, the European Commission has selected AlgaEnergy as a company with high growth potential and of strategic importance for Europe, which is why it will finance its 70% of its business plan in the course of the next 24 months, with non-reimbursable funds. Since 2014, only 6 companies in its category have achieved this recognition in Europe, an institutional support at the highest level.
In connection with this action, the European Commission has issued a Seal of Excellence, signed by Ms. Corina Creţu, Regional Policy Commissioner, and Mr. Carlos Moedas, Commissioner for Research, Science and Innovation, supporting and recommending the business project of AlgaEnergy, for having succeeded in "a highly competitive evaluation process".
"This recognition by the European Commission make us very proud because we know what it represents, and specially having been selected as the only algae company in Europe so far. We will make every effort to match this honor and exceed the most demanding expectations, and with the valuable support of the European Commission, demonstrate that microalgae have the potential to become a source of sustainable and inexhaustible high quality raw materials, strategic for Europe. In Spain, and in particular in AlgaEnergy, we have concentrated unparalleled talent and knowledge, which will contribute to achieving that goal ", explains Mr. Augusto Rodriguez-Villa, President of AlgaEnergy.
For more information about the SME Instrument Program follow this link:
https://ec.europa.eu/programmes/horizon2020/en/h2020-section/sme-instrument
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