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Helbio Successfully Completes its Participation in the H2020 SME Instrument Phase II to Receive Further Grant of Funds

By August 21, 2019

August 21, 2019

Helbio has received the final report from the European Commission with the approval of the of the Prometheus5 project pertaining to the development of a 5kW CHP system, a highly innovative, environmentally friendly and efficient solution for power and heat generation, using hydrogen and fuel cells.

PM Metacon 2019-08-09 en Helbio passed the requirements successfully and thus will receive the full amount of the grant. The total grant of the project comprise of EUR 1.212.397,38. A total of EUR 1.091.157,64 has already been paid out to Helbio. The balance plus the release of guarantee (EUR 60.619,87) Helbio had to put up at the beginning of the project are now due and payable to Helbio, totaling EUR 181.859,61.

“Project has achieved most of its objectives and milestones for the period with relatively minor deviations” is written within the General Project Review Consolidated Report issued by EU. “The project has been nicely focused on marketing, exploitation and communication activities which made very good impact as well as on the potential of the commercialization of the product” writes Elitsa Beyska, Project Officer from the Horizon 2020.

“We are very proud that we manage to finalize the project with success” says Prof. Xenophon Verykios, managing director of Helbio and continues: “During project period we managed to establish some strategic alliances and sign distribution agreements that will facilitate the promotion of our system. However, the very first target will be to prove to our partners, customers, suppliers that H2PS-5 is a reliable product that operates safely and provides the product claims that we declare, while at the same time finalize our plans scaling up our production capacity”

 

 

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