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N2 Applied granted “Green Deal” fund of €2.5M for from the European Innovation Council

N2 Applied will receive €2.5M from the European Innovation Council. The call had a specific focus on the European Green Deal and targeted SMEs set to scale-up, creating jobs and growth and giving Europe the global lead in green technologies and solutions.

– Our solution can improve European food production and reduce emissions. This is a clear objective in the European Green Deal, and we’re pleased that our potential contribution is acknowledged from the EU, says Carl Hansson, CEO in N2 Applied. – The grants will contribute to the commercialisation of the solution and market entry.

– We experience a lot of drivers for our solution. The COVID-19 pandemic has underlined the importance of a robust and resilient food system that functions in all circumstances. The food markets will face many more months of uncertainty, but the agri-food sector is likely to show more resilience to the pandemic crisis than other sectors. Furthermore, the increasing recurrence of droughts, floods, forest fires and new pests are a constant reminder that our food system is under threat and must become more sustainable and robust.

The N2 solution is a ground-breaking solution for agriculture which reduces GHG emissions, ammonia emissions, improves nitrogen use efficiency and provides cost competitive nitrogen fertiliser. N2 provides farmers with a solution to make their production more sustainable, thus providing a much-needed measure to tackle several of the issues EU and the global society is facing. Furthermore, the need for import of nitrogen fertilisers to Europe is reduced and European agriculture profitability and productivity strengthened. Additionally, market drivers such as the growth in renewable energy and the corresponding plummeting cost, provide a feasible business case for the technology. Consumer awareness and steady growth in organic and sustainable food consumption also constitutes a need for the N2 technology.

The N2 technology has a high potential for environmental impact, as it both reduces negative environmental impact and increases food production. The effects are significant on a local level, and the impact will increase quickly as the uptake of the technology increases. Though the solution can create impact on several areas, particular contributions to the European Green Deal goal are:

  • Transition to a fair, healthy, and environmentally friendly food system
  • Increasing the EU’s climate mitigation and/or adaptation ambition
  • Realising a zero-pollution ambition and a toxic-free environment

See also the press release from the European Commission: First “Green Deal” funding from European Innovation Council awards over €307 million to 64 startups set to support the recovery plan for Europe

2020-08-10T08:23:43+00:00