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KIC InnoEnergy Innovation Funding Event

10 / 22 / 2014

On October 21st MITA organized a KIC InnoEnergy Innovation Funding Event where Lithuanian companies presented their innovations in the energy field.

More than 10 innovative technologies from areas such as Energy from Chemical Fuels, Renewable Energies, Smart and Intelligent Cities and Buildings were introduced to the KIC InnoEnergy team. These technologies contribute to the reduction of costs in the energy value chain, increase of security and reduction CO2 and other greenhouse gas emissions.

Some of the technologies have been developed by the companies already funded by MITA under national R&D&I programmes or even established with MITA support. For example, JSC Elinta showcased a Rubbee Drive – a friction drive module which enables bicycle to reach up to 25 km/hr speed and travel 25 km without pedaling while JSC Inovatas presented technologies for hydrogen extraction from water and metal hydrides production using a plasma based approach.

Mr Christo Balinow, Outreach Development Manager of KIC InnoEnergy, was pleased by the quality of presented technologies. He stated that they are commercially viable and have potential of becoming very successful. However, he stressed that these technologies still need to be improved in order to be selected by KIC InnoEnergy. For this reason, KIC InnoEnergy will keep in touch with the companies and help them to develop their ideas.

KIC InnoEnergy is one of the first Knowledge and Innovation Communities (KICs) fostered by the European Institute of Innovation and Technology (EIT). It is a commercial company with 27 shareholders that include top ranking industries, research centres and universities, all of which are key players in the energy field. KIC InnoEnergy is dedicated to promoting innovation, entrepreneurship and education in the sustainable energy field.

KIC InnoEnergy provides acceleration services to start-ups and ventures by supporting entrepreneurs with their business ideas, strengthening their business models, building expert teams, and providing access to finance. It also supports innovation in the field and brings innovative ideas to life that have a positive impact on sustainable energy in Europe. KIC InnoEnergy focuses our activities around 8 technology areas: Clean Coal Technologies, Energy from Chemical Fuels, Energy Efficiency, Electricity Storage, Renewable Energies, Smart and Efficient Buildings and Cities, Sustainable Nuclear and Renewable Convergence, Smart Electric Grid.