The Commercialization Reactor Pre-Seed Fund first EXIT!

A deep-tech oriented acceleration program, pre-seed & seed investment up to 300k EUR, mentors from different parts of the world, and many more – this is what deep-tech start-ups can gain from the Commercialization Reactor Fund. A pre-seed fund was launched in 2018. So far, more than 300 applications have been reviewed, 28 deep-tech start-ups have finished the acceleration program, 7 are currently being accelerated, and around 1 million EUR have been invested into them by Commercialization Reactor Pre-Seed Fund.

The Artusystem Dual-Fuel is built on the Artusystem technology and allows operating the Diesel engine with a mix of LPG as a primary fuel and use of 20% Diesel fuel as a secondary fuel. The Artusystem Dual-Fuel is designed for use in passenger cars and light duty vehicles with an engine displacement of up to 3 litres, allowing both private users and businesses to save cost and emissions by up to 50%!

In 2019, Artusystem took part in the Deep Tech Atelier 2019 organized by the Investment and development agency of Latvia (LIAA) and Commercialization Reactor (CR). Artusystem made it to the finals and got the main prize – a spot in the Commercialization Reactor acceleration program and pre-seed investment up to 50k EUR! 

“The Commercialization Reactor Acceleration program gave us significant insights on how to operate within the deep-tech space as well as other important insights that were beneficial on our commercialization journey. We are grateful for the training, support, and network the Commercialization Reactor provided us with, and it certainly helped us with our business development and reaching our goals, including developing a next level prototype and validating our technology, and attracting next level investors,” says Artusystem co-founder and CEO Imants Martinsons.

The main Commercialization Reactors acceleration program goal is to assist startups in building a solid business case for further development and becoming seed investment ready. The Acceleration Program runs over 6 months and is split into two parts: entry-level & advanced level.

I.Martinsons says that with Artusystem they are leading pilot customer tests currently for vehicles with up to 3 litre engine displacement. “But as a whole in the company, we see the whole of alternative fuels and are in the process to advance with technologies in the CNG and Biomethane industries, with another focus on heavy duty vehicles,” he says.

Commercialization Reactor Fund Chairman of the board Ilona Gulchak says: “Excited to see Artusystem making next steps. I am glad Commercialization Reactor Fund provided their support and expertise to assist, when Artusystem was making first steps. Looking forward to a great story of another Latvian start-up succeeding”.