Kristiansand-based Nanopower receives millions in EU funding

Technology company Nanopower Semiconductor develops computer chips for wireless systems with extremely low power consumption. EIC's decision to select the company for its Accelerator and invest several million euros shows that the EU considers the technology highly promising and important.
'Nanopower develops technology for a highly competitive market. The company's support from the EIC Accelerator is recognition that Europe and the world need these solutions. It also gives the company a significant boost as it continues to develop. We are delighted to help finance and advise technology companies like this and act as a sounding board for them,' says our CEO, Håkon Haugli.

Nanopower has been developing its technology for many years and is now preparing to produce the first generation of its chip. The company's chip reduces power consumption in wireless devices by 70 to 90 per cent. This could save millions of batteries worldwide and enable wireless technology to be used in entirely new applications. Customers will now be able to test the chip and incorporate it into their product development.

'Now we can accelerate and make this unique chip a success,' says Tore Irgens Kuhnle. Nanopower has received our support at several stages, while Investinor has also contributed to the process leading up to the EIC Accelerator funding. 'Innovation Norway was hugely important to Nanopower during the startup phase, and we received valuable support throughout the pandemic. Everything you funded has been distilled into the chip now entering production. We can see that you take direct action to improve the success rate of Norwegian companies. Your help with our interview preparations gave us added confidence when we reached the third and final stage of the application process: the interview.'

The European Innovation Council Accelerator offers start-ups and small and medium-sized enterprises grants of up to €2.5 million, combined with equity investments ranging from €0.5 million to €15 million or more. In addition to financial support, all projects benefit from a range of services that provide access to leading expertise, companies, investors and other stakeholders in the ecosystem.