After the signing of the Shareholder Agreement, the EIC Fund officially becomes a shareholder of KEYOU. This brings KEYOU’s total funding from the EIC to EUR 7.3 million, including an R&D grant of EUR 1.55 million.
Some call for a strict end to the combustion engine, others see the battery coming even in the truck sector, and the hydrogen hype seems to be unbroken – new reports from the automotive industry appear in the media almost weekly. Despite all these different reports, the Munich-based high-tech company KEYOU continues to work steadily on a “green” hydrogen engine. With its “KEYOU-inside” technology, the start-up convinced the European Union as part of the EIC Accelerator Program.
For Martin Bruncko, member of the EIC Fund Investment Committee, the Munich based Clean Mobility Company’s technology is a key technology:”The EIC Fund investment in KEYOU demonstrates the Fund’s and EU’s commitment to advancing breakthrough and disruptive innovation cutting edge technologies in the area of decarbonization. KEYOU is a very promising startup, redesigning conventional engines into emission-free hydrogen powered ones. This is a key technology for enabling a mass-scale transition of heavy trucks and long-distance road transport of goods to a clean and sustainable future.”