EU-funded project GreenOffshoreTech supporting SMEs in the Blue Economy, celebrates its results in Hamburg

The GreenOffshoreTech project, funded by the European Union under the Horizon 2020 (INNOSUP) programme, held a two-day final event in Hamburg, on 5-6 June. Over 30 SMEs from Germany, Norway, Iceland, the UK, Poland, Latvia and Portugal participated and pitched their innovations.

Key results of the GreenOffshoreTech 3 - Phase Accelerator Programme

Over the past three years, the GreenOffshoreTech project has supported a total of 83 European SMEs in developing innovative prototypes and services aimed at making offshore production and transport greener, cleaner and more sustainable. The focus was on four offshore industry sectors: offshore wind energy, offshore aquaculture, offshore oil and gas, and waterborne transport.

A total of EUR 2.96 million was allocated to fund these 83 SME Innovation Projects through two open Calls for Proposals, structured within a 3-phase accelerator program centered on technology development and commercialisation strategy: 

• PHASE 1: 83 SMEs received 0.37 million EUR for developing an Initial Business Plan.
• PHASE 2: 55 SMEs were granted 2,27 million EUR for prototype development.   
• PHASE 3: 32 SMEs were granted 0.32 million EUR for promotion and exploitation activities. 

The financial support was complemented by tailored Business Support Services including   internationalization, branding, investor pitching training, and, most importantly, personalised one-to-one business coaching provided by globally experienced business mentors.

Final Highlights: Investor Round & GreenOffshoreTech Innovation Award Competition 

The two-day final event in Hamburg was the last step and highlight of this journey, providing all 55 SMEs from Phase 2 with the opportunity to pitch their innovation to potential investors and compete for the GreenOffshoreTech Innovation Award, with prizes up to EUR 40 000.

On Day 1, 12 SMEs of the 55 SMEs presented their investor pitches live on stage in Hamburg to an international audience, including potential investors from Germany and Norway. The investor pitching was also streamed live to Norway. As a result, at least five SMEs are now in discussions with investors.

On Day2, 28 SMEs of the 55 SMEs presented their innovation pitches for the GreenOffshoreTech Innovation Award competition live on stage. Based on the final votes of the international audience, the following five SMEs were awarded as the “greenest” SME Innovation Projects: 

1. Lemvos GmbH (Germany) for its unmanned surface vessel for remote inspections,
2. Subsea Bellows AS (Norway) for its deflated and lightweight composite buoys,
3. FiberCheck GmbH (Germany) for its systems for condition monitoring of wind turbines,
4. Tidetec AS (Norway) for its hydraulic turbine technology,
5. Hefring ehf  (Iceland) for its AI-based guidance and vessel monitoring solution.

About GreenOffshoreTech 

The GreenOffshoreTech 3-Phase Accelerator Program was driven and delivered by the GreenOffshoreTech Consortium, which included  12 European partners from 16 regions across seven countries, including nine European clusters: 

The programme came to an end  this September with the completion of PHASE 3 of the second Call for Proposal. It has generated significant value for the participating SMEs and fostered emerging industries within the blue economy, laying the groundwork for a more sustainable and competitive future.