EIC Board President visits eChemicles as Hungarian CO₂-electrolysis company begins EIC Accelerator scale-up project

eChemicles today welcomed Michiel Scheffer, President of the European Innovation Council (EIC) Board, and Dr. Péter Horváth, State Secretary for Science Policy and Innovation, to its headquarters in Szeged, Hungary for a facility tour and demonstration of the company’s low-temperature CO₂ electrolysis technology.

The visit comes at a pivotal moment for both European industry and climate technology. Across Europe, manufacturers are seeking new ways to reduce dependence on imported fossil resources while strengthening competitiveness in an increasingly uncertain geopolitical environment. eChemicles is among a new generation of deep-tech companies aiming to address both challenges simultaneously by transforming industrial carbon emissions into valuable chemical feedstocks using electricity. eChemicles has been awarded earlier this year with EIC Accelerator blended finance, combining an EIC Accelerator grant with a planned equity investment from the EIC Fund, managed by EIB. This recognition places the company among a select group of European innovators supported by one of the European Union’s most competitive technology funding instruments.

From left: Michiel Scheffer, President of the European Innovation Council (EIC) Board and Dr. Csaba Janáky, CTO, Co-Founder, and Chairman of the Board of eChemicles, who is also an EIC Ambassador — From left: Michiel Scheffer, President of the European Innovation Council (EIC) Board and Dr. Csaba Janáky, CTO, Co-Founder and Chairman of the Board of eChemicles, who is also an EIC Ambassador © eChemicles

The two components serve distinct purposes. The grant supports the company’s Scale_eChemicles innovation and productization project, while the EIC Fund investment is intended to support commercial deployment and scaling alongside private investors.

The recognition reflects more than a decade of scientific and engineering progress. What began as fundamental electrochemical research at the University of Szeged has evolved into a venture-backed industrial technology company focused on bringing a new manufacturing platform to market. This journey was already supported by the EIC Transition instrument, when the lab-to-tech transition of the technology was carried out. The company’s vision is straightforward but ambitious: enable industry to transform captured CO₂ from a waste stream into a locally produced raw material, reducing reliance on fossil-based feedstocks while strengthening European industrial value chains.

eChemicles is currently finalizing its Series A financing round. The company’s technology converts captured industrial CO₂ into carbon monoxide using electricity. Carbon monoxide is an essential building block used in the production of chemicals, synthetic fuels, and advanced materials. Today, this important industrial intermediate is typically produced from fossil resources or transported from centralized facilities. By generating it directly at the point of use, eChemicles aims to create a more resilient, lower-carbon and potentially more cost-effective supply model for industrial customers.

Richard Jones, CEO and Co-Founder of eChemicles, said: “The EIC Accelerator support accelerates our transition from successful technology validation to commercial deployment through a standardized, containerized platform that can be rapidly implemented worldwide. At the same time, we are progressing our Series A fundraising round, with the expected investment from the EIC Fund serving as a significant catalyst for our growth. We look forward to sharing further details once the financing process has been fully completed and all required approvals are in place.”

Dr. Csaba Janáky, CTO, Co-Founder, Chairman of the Board of eChemicles and also EIC Ambassador said: “This journey began in university laboratories in Szeged and has grown into a mission to bring a new industrial technology to market. From fundamental scientific discoveries and breakthrough electrochemical research to company formation, pilot development and industrial validation, every milestone has moved us closer to enabling industries to produce a critical chemical feedstock directly from captured CO₂ and electricity. The EIC’s support demonstrates how European science can be transformed into globally competitive industrial innovation.”

Michiel Scheffer, President of the European Innovation Council (EIC) Board said: “Europe needs deep-tech companies that connect climate action with industrial resilience. eChemicles is developing a way to produce an important chemical feedstock on site from captured CO₂ and electricity. That combination can help reduce fossil-feedstock dependence while strengthening European technology, competitiveness and resource security.”

Dr. Péter Horváth, State Secretary for Science Policy and Innovation, said: “The Ministry of Science and Technology places a high priority on strengthening European partnerships and supporting the successful participation of Hungarian small and medium-sized enterprises (SMEs) in the European Innovation Council (EIC). To advance this objective, a constructive dialogue is already underway between the European Union and the Ministry. As part of these efforts, the Ministry will introduce incentive programs to help the SME sector achieve greater success in European funding and innovation initiatives.”

The visit included a facility tour, a technology demonstration, public statements and a press Q&A.

About eChemicles

eChemicles is a Hungarian deep-tech company developing and commercializing low-temperature CO₂ electrolysis technology for industrial decarbonization and circular carbon use. Its modular systems convert captured industrial CO₂ into carbon monoxide using electricity, creating a potential alternative to fossil-derived or transported feedstocks. The company is based in Szeged, Hungary, and has received support through European and Hungarian research and innovation programs. Learn more at www.echemicles.com.

Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or European Innovation Council and SMEs Executive Agency (EISMEA). Neither the European Union nor the granting authority can be held responsible for them.