ECOFER: Next Generation Slag and Mineral Processing Technology

Project Information

ECOFER

Grant agreement ID: 835668

DOI

10.3030/835668

Project closed

EC signature date 30 November 2018

Start date 1 December 2018

End date 31 May 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

ECOFER TECHNOLOGIES OU
Estonia

Periodic Reporting for period 1 - ECOFER (ECOFER: Next Generation Slag and Mineral Processing Technology)

Reporting period: 2018-12-01 to 2019-05-31

Summary of the context and overall objectives of the project

Ecofer Technologies OÜ (Ecofer), is an Estonian cleantech and engineering company, focused on slag processing technology development for steel industry. Since 2015, the team has focused on developing the next generation disruptive slag processing technology. The processing technology will re-evaluate steelmaking slag value and bring new growth opportunities for steelmaking industry. At the current stage, Ecofer aims to finalise the development work and prepares to enter global markets with the unique slag processing and metal recovery technology.
The objectives of the feasibility study were to study both commercialisation and technological aspects of the innovation.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

During the feasibility study, we:
• Updated the business plan and go-to-market strategy;
• Conducted a freedom-to-operate study;
• Finalized the design for the pilot plant to be set up in Phase 2.
As a conclusion of the project, the Ecofer slag processing technology is technically and commercially feasible.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The business plan development resulted in a validated strategy for overcoming the major market entry hurdles and for engaging pilot customers. We developed an alternative business model for the piloting phase and a licensing business model with further perspective and determined the benefits and risks of both. Accordingly, we adjusted our go-to-market strategy and clarified the required competences and resources. Additionally, we described the targeted profiles of an investor-partner and envisaged the steps to access them.

Analysing the targeted markets, we validated our market potential across regions and countries and gained a better understanding of the competitive landscape. We validated the uniqueness of our metal recovery technology; especially our Vanadium recovery method will give the key competitive advantage we must continue focusing on.

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