Norway Grants to invest EUR 130 000 in PurOceans technology

The Investment and Development Agency of Latvia (LIAA) announced the call for proposals for the small grant scheme “Development of Welfare Technologies” of the Norwegian Financial Mechanism’s Programme “Business Development, Innovation and SME’s”. Through this small grant scheme, entrepreneurs have the possibility to attract co-financing of up to 130 000 euros.

Within this financial scheme, deep tech startup PurOceans has been chosen to receive the maximum grant amount – EUR 130 000 – that will be used to test and develop its non-contact flotation, autonomous water cleaning technology for cleaning the bottom of reservoirs from oil and oil products experimental prototype.

PurOceans Technology is a startup company founded in 2019. PurOceans Technology’s solution is to non-invasively clean the bottom of aquariums of oil residues, microplastics, chemicals, and other pollutants. It is based on the so-called flotation method, which does not involve the use of chemicals, electrical pulses, or ground excavation, thus minimizing damage to flora and fauna. The method involves placing a funnel on the seabed which, at a certain air pressure, lifts oil pollution from the bed of the aquatorium, separates it from the ground and sand, and collects it in closed tanks without allowing it to spread further into the environment. Rolands explains that the light fraction pollution that is present in the surface water evaporates over time. The heavy fraction, on the other hand, starts to sink. Once it settles, it can be lifted by excavation or electrochemical pulses. Once the oil is lifted with the sand, it cannot be reused.

A small grant scheme is intended to provide financing for experimental development, testing, and certification of a new product or technology, to strengthen intellectual property rights, as well as financing the knowledge transfer activities with the project partners to develop a new product or technology.

Within the call, support is provided to enterprises registered in Latvia who correspond to the status of small (micro) or medium-sized enterprise

The total available funding for this program is EUR 1 200 000. The available grant amount for one project is between EUR 10 000 and EUR 130 000, but the aid intensity is from 35% to 70%.

“In Scandinavia and other developed countries around the world, the welfare of the populations is very much focused on ensuring equal opportunities for all groups of society. In recent years, significant steps have also been taken in Latvia, to improve various aspects of welfare for seniors, people with disabilities, and other groups in society. With the support of the Norwegian Financial Mechanism Programme, entrepreneurs can attract resources to develop welfare technologies. The objective of this program is to improve the inclusion of different groups in society by developing tailor-made solutions that help to promote not only welfare but also security and mobility,” highlights Kaspars Rožkalns, Director General of LIAA.

Soource: labsoflatvia.com