Annual results 2023 – Working sustainably on the transitions
Today, LIOF presented its results for 2023. LIOF strives to make a positive contribution to the transitions in energy, circularity, health and digitisation through its activities. In 2023, the greatest impact was made on the health transition. In addition, important steps were taken to make the region sustainable and future-proof. However, there is still work to be done.
Long-term solutions
Jeroen Walraven, acting managing director: "The succession of crises threatens to create a primary focus on short-term thinking and action. But we must continue to focus on solutions for long-term social transitions. At LIOF, we are doing everything we can to support start-ups, scale-ups and SMEs in this regard. We do this through innovation programmes and funds, but we also actively seek cooperation with partners in the region and beyond. Because only together can we tackle the major challenges.”
Convergence of health and digitalisation transitions
In 2023, 76 innovation projects and 16 investments had an impact on the SDG health. One case that was supported based on the core tasks of innovation and investment was Ceriter. Ceriter is a start-up that focuses on the development, production and sale of a smart insole, the Stride One. This insole detects abnormal gait patterns and generates customised audio feedback via a smartphone to prevent or correct Freezing of Gait (FoG) in patients with Parkinson's disease. This is important, as FoG can easily cause Parkinson's patients to fall, with all the risks that entails. LIOF supported the development of the first prototype with an innovation grant and then stepped in with a loan from the Limburg Startup Capital Fund (LSCF) to bring the 'smart insole' to market.
Impact on circular and energy transition
Multiphase Dryers has developed a drying technique that uses low-grade residual heat to dry and upgrade (food & beverage) waste streams in an affordable way. This removes a major obstacle for the biobased and circular economy: biobased raw materials and food & beverage waste streams contain a lot of moisture, which makes them perishable and difficult to upgrade. Drying with a conventional dryer consumes a lot of high-quality heat and is costly and environmentally unfriendly. LIOF invested from the Limburg Early Stage Fund to enable the further development of the prototype into a condensing dryer and the validation of its commercial feasibility.
Annual emission reduction of nearly 25,000 tonnes of CO2
Two projects that were completed in 2023 were the Joint Corridor Off-road project and the From Waste 2 Profit project. During the three years that the Joint Corridors project was carried out for the Top Sector Logistics, more than 370,000 containers were moved from road to water or rail. This has led to 70,000 fewer truck movements per year and an emission reduction of approximately 17,000 tonnes of CO2.
The Euregional From Waste 2 Profit project focused on reducing waste and, where possible, converting residual waste into circular material flows. The total project has led to an annual reduction of 7,400 tonnes of waste, 224,000 kWh of energy consumption, 8,700 tonnes of CO2 emissions and 184,000 m3 of water consumption.
Project Einstein Telescope
In 2023, the Einstein Telescope valorisation programme led by LIOF was launched. The valorisation programme is part of the National Growth Fund project Einstein Telescope, which invests in the preparation of a joint candidacy together with Belgium and Germany. The programme stimulates innovation and accelerated development of new technologies for the Einstein Telescope. LIOF is responsible for national coordination and works closely with the ROMs in Brabant (BOM), South Holland (InnovationQuarter) and the Eastern Netherlands (Oost NL). Part of this programme is an R&D scheme with a budget of over €12 million, which focuses on five technologies that are relevant to the Einstein Telescope but can also be used in other areas of application, such as aviation technology or the semiconductor industry. Low-vibration cooling, for example, will also be important in electric flight. In 2024, the focus will be on forming consortia for the various technologies and strengthening the ecosystem in order to increase the chances of the Einstein Telescope being located in the Netherlands.
“The positive operating results are combined with a negative financial result. This reflects the difficult economic situation facing various industries. The Supervisory Board endorses LIOF's long-term vision in this situation and its continued focus on transitions. In this way, entrepreneurs can (continue to) work together with LIOF towards a smarter, more sustainable and healthier Limburg," says Hans Jennissen, Chairman of the Supervisory Board.
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