Valdis Dombrovskis

Vice President

Pearse O'Donohue

Director for the Future Networks, DG CONNECT

Past deals in Benelux

Thorizon

Series A in 2025
Thorizon is a deep-tech startup based in Amsterdam and Lyon that specializes in the development of thorium molten salt reactor technology aimed at sustainable energy production. Originating as a spin-off from the Dutch Nuclear Research Institute, the company seeks to create small modular nuclear reactors that complement renewable sources such as wind and solar. Thorizon is focused on rapidly developing a reactor that is both safe and capable of utilizing long-lived nuclear waste as fuel, thereby contributing to circular energy solutions. The company is currently enhancing its financial position to construct a non-nuclear molten salt demonstrator and finalize the design for its first reactor, Thorizon One, slated for completion by 2030. Collaborating with industry leaders like Orano, Tractebel, and EDF, Thorizon is recognized as a key player in advanced nuclear projects, being a laureate in the France 2030 program.

Avantium

Grant in 2024
Avantium is a Dutch technology company specializing in advanced high-throughput research and development for energy, chemicals, and pharmaceutical industries. Headquartered in Amsterdam with state-of-the-art laboratories, Avantium's proprietary technology accelerates product and process innovation while reducing costs. With over 70 global clients, including industry leaders, Avantium has proven its technology's validity and commercial viability. The company focuses on developing new biofuels, bio-based chemicals, and novel crystal forms of marketed drugs under patent. Its team comprises highly educated professionals in catalysis, crystallography, organic chemistry, engineering, statistics, cheminformatics, and software development, collaborating closely with partner R&D organizations to drive innovation.

ArcelorMittal

Post in 2023
ArcelorMittal is a global steel and mining company, specializing in the production of steel and iron ore. It operates through segments such as North America, Brazil, Europe, and Mining, with the majority of its revenue generated from the Europe segment. The company's product portfolio includes hot-rolled and cold-rolled coil, coated products, tinplate, plate, slab, long products, tubular products, and wire rods, serving diverse industries like automotive, construction, packaging, and household appliances. ArcelorMittal is committed to developing technologies to reduce the carbon footprint of steel, aiming to be carbon neutral by 2050.

ArcelorMittal

Grant in 2023
ArcelorMittal is a global steel and mining company, specializing in the production of steel and iron ore. It operates through segments such as North America, Brazil, Europe, and Mining, with the majority of its revenue generated from the Europe segment. The company's product portfolio includes hot-rolled and cold-rolled coil, coated products, tinplate, plate, slab, long products, tubular products, and wire rods, serving diverse industries like automotive, construction, packaging, and household appliances. ArcelorMittal is committed to developing technologies to reduce the carbon footprint of steel, aiming to be carbon neutral by 2050.

Everfuel

Grant in 2022
Everfuel Denmark A/S is a green hydrogen company based in Herning, Denmark, specializing in the production and sale of green hydrogen fuel across several European countries, including Denmark, Norway, Sweden, the Netherlands, Germany, and Belgium. Founded in 2017, the company serves a diverse range of applications, providing hydrogen fueling solutions for heavy-duty vehicles such as buses, trucks, and taxis, as well as marine vessels and private cars. Everfuel operates hydrogen production facilities, distribution networks, and fueling stations, ensuring accessibility for both mobility customers and industrial stakeholders involved in alternative hydrogen-based fuels and Power to X products. By collaborating with vehicle manufacturers, Everfuel aims to enhance the hydrogen value chain and offer competitive, long-term contracts to enterprise customers.

Lapsi Health

Grant in 2022
Lapsi Health is a technology company based in Amsterdam, established in January 2022, that specializes in developing sound-based biomarkers for clinical medicine. The company focuses on innovative technologies that utilize audio and photo-sensor data to enhance the screening and monitoring of various diseases. By improving data usage in healthcare, Lapsi Health aims to contribute to the diagnosis and treatment of a wide range of disorders, ultimately advancing the capabilities of medical practice.

etherna immunotherapies

Grant in 2021
eTheRNA immunotherapies NV specializes in the development of mRNA-based immunotherapies that harness the key role of dendritic cells in the immune system. The company focuses on treating melanoma, triple-negative breast cancer, and infectious diseases through its innovative TriMix technology, which enhances the immune response. Founded in 2013 and headquartered in Niel, Belgium, eTheRNA collaborates strategically with China Grand Pharmaceutical and Healthcare Holdings Limited to advance its research and development efforts. The company aims to lead in nucleic acid-based medicine, enabling partners to create new therapeutic options and improve patient outcomes.

INDRESMAT

Grant in 2020
INDRESMAT is an international chemical startup based in Barcelona, Spain, and Geleen, the Netherlands, focused on enhancing energy efficiency in the construction sector. The company aims to implement high-performance and sustainable materials to support the development of Nearly-Zero Energy Buildings. Leveraging expertise in bio-Polyurethane chemistry, INDRESMAT is committed to creating innovative products that reduce fossil CO2 emissions and combat climate change. By developing advanced manufacturing technologies, the company seeks to deliver energy-efficient construction materials cost-effectively, positioning itself as a transformative player in the industry.

Bioxodes

Seed Round in 2013
Bioxodes SA is a clinical-stage biopharmaceutical company based in Marche-en-Famenne, Belgium, focused on developing innovative products derived from natural resources. The company holds intellectual property related to active molecules and aims to create a portfolio of healthcare applications for humans. Its lead product, Ir-CPI, is a peptide with novel antithrombotic properties designed for the prevention of thrombosis in various medical procedures, including cardiopulmonary bypass grafting and percutaneous coronary intervention. This product represents a new class of injectable antithrombotics that may allow for treatment across diverse patient groups without the typical high risk of bleeding or the need for reversal after critical interventions. Bioxodes leverages research conducted in collaboration with multiple academic institutions, ensuring a strong foundation for its product development efforts.

Brolis Semiconductors

Grant in 2012
Brolis Semiconductors Ltd., founded in 2011 by the Vizbaras brothers, is a Lithuania-based company specializing in the design and manufacture of infrared laser diodes and electro-optic systems for a diverse range of applications, including defense, medical, research, and industrial sectors. The company has developed a state-of-the-art semiconductor device production facility that focuses on long-wavelength semiconductor light sources and molecular beam epitaxy services on various substrates. Brolis is recognized for its innovative non-invasive medical sensor technology, which monitors blood constituents by integrating proprietary light-source technology with photonic integrated circuits. This technology enables real-time monitoring of critical molecules, offering significant advancements in wearable devices for digital health and sports markets. With a strong intellectual property portfolio, including several patents, Brolis operates across three European locations: its headquarters and semiconductor facility in Vilnius, an integrated photonics R&D office in Ghent, Belgium, and a defense sales and assembly site in Larne, Northern Ireland. The company has continued to grow, employing over 40 personnel and expanding its product offerings in the semiconductor and photonics sectors.
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