The European Innovation Council will invest up to €7m in Munich-based hydrogen technologies developer KEYOU.
Awarded as part of the Horizon 2020 funding programme, the new capital will help to develop a hydrogen-powered truck, with an engine based on the developments of KEYOU.
Within its Horizon 2020 project, which is aimed at young and highly innovative companies, the European Union wants to support entrepreneurs and small businesses with financing opportunities.
Thomas Korn, CEO and Co-Founder of KEYOU, said, “The grants and the participation by the EU again bring us a big step forward. On the one hand financially – after all, we are currently in the Series A II financing round – and on the other hand, of course, politically.”
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