Jolt Solutions, selected as one of the +120 most promising deep technology companies by the European Innovation Council

The ICIQ-born business, that started its first large scale production operation in 2024 , will accelerate its growth with this programme

Jolt Solutions, the deep tech company born from the Institute of Chemical Research of Catalonia (ICIQ) in the group of Prof. Julio Lloret, has been selected by the European Innovation Council (EIC) Scaling Club as one of the +120 promising deep technology companies from all of Europe. This programme will support the 120 scale-ups selected with fundraising, leadership mentoring and coaching, corporate partnership identification and matchmaking, media visibility and recruitment.

Jolt is one of the 72 companies from 24 countries selected in an event held on 21st and 22nd of October in Athens (Greece). Last April, EIC selected 48 other members. The Scaling Club aims “to accelerate the growth of all its members, with a goal of scaling 20% of them into unicorns”. All the selected companies have the potential “to build world-class businesses and solve major global challenges”, states the organisation. In this sense, the scale-ups will be able to come together with investors, corporate innovators and other industry stakeholders to spur its growth.

The companies selected were nominated by various stakeholders as investors, mentors, agencies and public funds, media, and other industry experts. An investor’s jury made the final decision. An EIC Trusted Investor Network will also help to bring together over 50 of Europe’s leading technology venture capitalists and investors. This network aims to accelerate co-investments with the EIC Fund and provide more finance to the selected scale-ups.

Teresa Cunha, Lead at EIC Scaling Club, states that this companies have collected €3.4 billion to date. And she adds: “With the backing of more than 400 dedicated club members, these companies are well-positioned to address key global challenges within their respective industries, and I have no doubt they will continue to grow and realise their full potential.”

The selected companies come from six predefined market sector, which includes Agri & Food Tech, Batteries & Energy Storage, Cardiovascular Therapies, Clean Fuels & Hydrogen, New Biotech Platforms, New Space Tech.

The year of Jolt Solutions

2024 has been a profitable year for the ICIQ-spin off company. At the beginning of the year, Jolt Solutions ended the construction and opened its own manufacturing plant in Hospitalet de Llobregat (Barcelona) after receiving, during 2023, >6 million euros from investment groups such as Banco Santander, Climentum Capital, Ship2B Ventures and Axon Partners Group. And recently, the company has successfully scaled up his production process under the brand  “Sparkfuze” to produce its electrodes  for green chemicals.

Our participation at the Scaling Club will add a wealth of knowledge & open many opportunities for Jolt.  Having already scaled up our first production unit in Barcelona to over 100,000m2/annum we now must plan for the next phase of scale up with our small, flexible production units deployed in key territories providing electrodes and refurbishment services where needed.

Wayne Thornhill, Global Sales Director from Jolt

The company also has increased its workforce. At the beginning of the year Jolt CTO, Dr. Alberto Bucci, stated that there were 12 people working in Jolt. “The idea is to be about 20 people at the end of the year”, he added, almost doubling it.

Jolt and the emerging green hydrogen sector: Europe’s present bet for decarbonising the industry

The European push for the H2Med hydrogen corridor is a reality. The project’s partners launched the Call for Interest process this November to assess the infrastructure needs of the hydrogen value chain, for optimising the infrastructure design and establishing operational requirements.

This corridor would transport green hydrogen from Portugal to France starting in 2030 and in two phases. The second phase will link Barcelona and Marseille. In regions like Catalonia, hydrogen plays a crucial strategic role in both the current and future energy model. In Europe, with infrastructures like this, there is a strong commitment to contributing to the decarbonisation of industry. But what exactly is Jolt’s technology? Why is it so revolutionary, and why has it received such significant support?

Hydrogen comes in different types, each referred to by a specific colour: black, grey, pink, etc. The final product is always the same, but the energy source used to produce it varies. Black hydrogen is made from coal; grey from hydrocarbons like natural gas; pink from nuclear energy; and green is produced from renewable sources.

Green hydrogen is manufactured using a device called an electrolyser which splits water into hydrogen & oxygen using renewable electricity.  Jolt manufacturers the key component in green hydrogen production, the electrodes.  These are the beating heart of the electrolyser – No electrodes = No hydrogen.  With it’s revolutionary technique, Jolt can produce high efficiency, high durability electrodes faster, at a greater scale and at a reduced cost which will unleash the potential of the green hydrogen market.