A Monaco-based startup has become the first company incubated at MonacoTech to be selected for funding under Horizon Europe, the European Union’s principal research and innovation programme.
Sea Further, founded by Valentino Iakimov and supported by MonacoTech since its early stages, was chosen from several hundred applicants across EU member states for an industrialisation project backed by the European Institute of Innovation and Technology.
The company develops bio-optimised carbon derived from a patented biological process, including graphene modified by marine micro-organisms. The technology improves the performance of hydrogen fuel cells, batteries and energy storage and conversion systems, while significantly reducing dependence on rare earth metals — a growing concern for the clean energy sector globally.
Support for the grant came directly from the Monaco Government, with the Department of Finance and Economy and the Directorate of Economic Development providing personalised support during the application process and contributing to the financing of the research project — two factors the company credits as instrumental to its success.
MonacoTech, which incubates and supports startups across a range of sectors in the Principality, described the selection as a major achievement. For Sea Further, it represents the validation of several years of research and development, and opens the door to scaling a technology with significant implications for the future of clean energy.
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