SpinDrive took part in the highly competitive Horizon 2020 program run by the Executive Agency for Small and Medium-sized Enterprises (EASME). The program consists of several phases where SpinDrive has completed Phase 1 of the project (SME Instrument 1). SMEI-1 feasibility study guided our future growth as it was aimed to acquire a deep understanding of the market, competitors, customer segments, end-users and other stakeholders. The main results of the project are newly identified opportunities for providing magnetic bearing technologies to various industries.
EASME has been set-up by the European Commission to manage on its behalf several EU programs including COSME, LIFE, Horizon 2020, Horizon Europe and EMFF. The main goal is to ensure that actions funded by these programs deliver results and provide the Commission with valuable input for its policy tasks. From 2020 the SME Instrument becomes the EIC Accelerator, offering optional equity investment in addition to a grant.
SpinDrive provides tailored active magnetic bearings (AMB) systems for original equipment manufacturers. SpinDrive technology increases efficiency by up to 10% and lowers the customer’s lifecycle costs by 35%. By levitating the rotational part of the machine eliminating friction, SpinDrive enables 20 years of maintenance-free operations and saves on average more than 500 000 EUR on the maintenance costs during the product lifetime.
SpinDrive. February 18, 2020
This project has received funding from the European Union’s Horizon 2020 research and innovation program under grant agreement No 876049.