AIX-EN-PROVENCE, France--(BUSINESS WIRE)--The first orders have already been posted on the car market, in anticipation of the introduction of the new EU legislation on CO2 emissions target from vehicles in 2020.
This success has enabled SP3H to receive the second tranche of € 473k from the EU, thus raising the amount received since October 2017 to € 1M.
During the summer of 2017, VIP received the prestigious H2020 label "EIC SME Instrument Phase 2" in the "transport & smart cities mobility" category. With a total budget of 1.7M €, VIP is subsidized by the European Union for 70% or 1.2M€ has enabled SP3H to join the prestigious circle of French winners of the H2020 EIC SME Instrument Phase 1 and 2 programs.
VIP is the pre-industrialization program for Fluidbox sensors, the first miniaturized scanner in the world capable of analyzing the quality of fuels in vehicles. The heart of the program remains closely linked to the CO2 impact from vehicles and the target of 40% reduction chosen by the European lawmakers by 2030.
As part of the innovation dissemination activities, supported by European Union on Phase 3 of the EIC SME Instrument programs, this new generation of smart and connected micro-sensors is now able to operate on a multitude of fluids thus allowing SP3H to open up the doors of the of the 4.0 industrial analysis markets.
About EIC SME Instrument
Horizon 2020 EIC SME instrument with 3 billion Euros, funds market-creating innovation in disruptive small businesses that have significant growth potential and global ambitions. Only the most innovative companies get selected. 25% of the companies funded under the EIC SME Instrument are in the 10% fastest growing companies in Europe according to Venture Radar.
The company is located in the Technopole Arbois Méditerranée in Aix en Provence. Since its inception in 2005, the company has invested € 20M. The Fluidbox sensors developed by SP3H are robust enough to analyze in real time the quality of the fluids for the process industries but also capable of analyzing and transmitting remotely the information relating to the quality of the fuel on board a vehicle.