European deep-tech founders told European Commission President Ursula von der Leyen that access to funding is only one part of what is needed to help their companies grow. At a discussion in Brussels, they also raised barriers created by national regulations, the need for stable policy and competition from abroad.
Among them was Reinier Grimbergen, whose company Blue Circle aims to make olefins, a key ingredient in plastics, from biological waste rather than oil. Its plans for a large plant in Rotterdam are in place, with production expected in five years. Grimbergen said a long journey from idea to revenue needs political support.
Bolt founder Markus Villig argued that differing national rules make it difficult for companies to expand across Europe. He called for a uniformly regulated single market, warning that fragmented requirements can favour US technology companies with the resources to adapt to multiple national systems.
CarbonX founder Daniela Sordi said her company, which produces graphite for electric-car batteries, faces competition from China. She said CarbonX is preparing to produce in Europe but would need support to do so. The draft Industrial Accelerator Act does not currently include a fixed quota for domestically produced graphite, according to the article.
Lucio Milanese, a co-founder of Proxima Fusion, called for an EU-wide legal framework that distinguishes nuclear fusion from nuclear fission and its highly radioactive waste. He also praised Europe’s research base, saying he had returned from the United States because of its research opportunities and had recruited some of his best employees from there.
Von der Leyen pointed to proposed EU funding, including plans to nearly double the Horizon research programme to 175 billion euros and create a competitiveness fund bringing together programmes worth 240 billion euros. The Commission has also made 6.5 billion euros available through a scale-up fund, which began operating in June. It is intended to bridge the gap between start-up financing and a stock-market listing, with investments of 30 million to 300 million euros.
The fund has taken stakes in eight companies so far. Proxima Fusion is not among them; it recently completed a 650-million-euro funding round. Milanese said the company could nevertheless consider the fund for future financing needs. The fund is managed by EQT, while the Commission does not decide which companies receive investments or when stakes are sold.
Sources: FAZ.