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EU Blue Champions unveiled: 20 companies will receive advisory support to grow their business

23.05.2024

The European Commission and the European Investment Bank (EIB) unveiled 20 “EU Blue Champions” who will receive advisory support to grow their business. Originating from Croatia, Denmark, France, Germany, Greece, Italy, Norway, Portugal, Spain, and Sweden these champions are involved in various sectors ranging from tidal and wind energy solutions, underwater robotics, and vertical research vessels to satellite data applications for blue technologies, and aquaculture or biorefinery activites.

Following an open call for proposal launched in 2023, 70 projects from the EU and from Norway submitted their applications for the newly created Blue Champions Programme.

All applications underwent rigorous evaluation by more than two dozen of sector experts and loan officers, who assessed whether the projects were:

  • aligned with the EU Mission “Restore our Ocean and Waters”
  • bankable, i.e. likely to be profitable
  • well prepared in terms of quality, feasibility and timeline
  • mature enough and displayed the type of technology required.

Each of the 20 EU Blue Champions awarded today meets these requirements. All companies are technologically and financially mature enough to scale up their business over the next two years. In addition, all of them are in sync with the EU Mission on ocean and waters, meaning that they set out to either restore marine and freshwater ecosystems and biodiversity, eliminate pollution, or decarbonise the blue economy.

OEE members HydroQuest and SCHOTTEL Marine Technologies are amongst the 20 EU Blue Champions winners.

The winners will receive advisory support from the European Investment Bank. Some of the winners might also qualify for EIB venture debt, a type of loan designed specifically for early-stage, high-growth companies.