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Koolen Industries group companies Hardt Hyperloop and Kraftblock receive EU grants €16,7 million

Two Koolen Industries group companies, the Dutch hyperloop company Hardt Hyperloop and the German energy storage company Kraftblock, have been identified as start-up champions that will receive financial support by The European Commission’s European Innovation Council (EIC).

Koolen Industries invests 16,7 million euros

“As both investors and operators in the energy transition, we welcome Brussels’ support. People want clean energy and clean transport. We will deliver exactly this,” said Kees Koolen, founder and CEO, Koolen Industries.

Each company will receive a combination of grant financing and equity investment of up to €17 million to develop and scale up their ground-breaking innovations. Hardt will receive a full blended financing option of €15 million, and Kraftblock has been awarded a grant of €1,7 million.

Hardt and Kraftblock were among 65 innovative start-ups and SMEs to receive €363 million of funding for breakthrough innovations.

Koolen: “The decision from the EIC confirms the quality and importance of the work being done in our group. Our mission is to make clean energy and clean mobility the new normal for everyone. Available. Attainable. Affordable. I congratulate Hardt and Kraftblock with their innovative entrepreneurship and quality of work, which has led to this success and inspires others to perform. However, we’re just at the start of our journey; much work is to be done. By working together in our group and with outside partners, we will achieve our mission: clean energy for everyone.”


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