The EU Techbridge and Geo Energy Europe projects join forces to enhance the internationalization opportunities of European SMEs

Thanks to a memorandum of understanding signed in December, the first meeting between the partners of both projects was held on 20 January to discuss the operational methods to support the internationalization of companies.

Last December 2021, EU Techbridge and Geo Energy Europe signed a memorandum of understanding, with the general aim of creating new internationalization opportunities for European SMEs. The geographical area taken into consideration is North American and in particular Canada.

Both projects are actions co-financed by the call for the internationalization of enterprises (clusters go international) of the European program for SMEs (COSME), whose partners are clusters of European enterprises.

Geo Energy Europe integrates and exports the technical capabilities of European geothermal SMEs to third country markets, such as in particular Canada, Chile, Costa Rica and Kenya. EU Techbridge, on the other hand, matches innovative European SMEs with North American based end-users/corporate buyers which are looking for innovative water and energy solutions.

Considering that geothermal energy is an extremely versatile energy source, which finds application in numerous sectors, from the decarbonization of building air conditioning systems, to the use of heat for water treatment (drinking or wastewater, including sewage sludge), the agreement signed in December forsters collaborations on issues of common interest for both projects.

During the kick-off meeting of the protocol, held last January 20, the partners of both projects outlined a joint activity plan. In the coming months, joint actions will be carried out, aimed at developing new business opportunities for European SMEs in North America, in the sectors of common interest for both projects. These activities include: market analyses that identify challenges and opportunities posed by potential end users which can be of interest for EU innovative companies, support for identifying investment and financing opportunities, organization of public initiatives, business matching events, as well as capacity building to provide general information on Canada, or on specific issues such as the availability of potential funding.

Therefore, the protocol lays the foundations for the development of collaborations with overseas entities, also promoting those between European companies and research bodies, intending to develop projects that offer solutions related to sustainability issues in the water and energy sector.