The KONČAR Group has achieved another important international success. The KONČAR NEXUS project successfully passed the demanding evaluation process of the European Union Innovation Fund and has been selected to enter the grant agreement preparation stage. The Innovation Fund is one of Europe’s key funding programmes for innovative technologies that support decarbonisation and strengthen industrial competitiveness. In this year’s call, the European Commission selected 77 projects from 23 European countries, with a total funding allocation of EUR 3.4 billion. The KONČAR NEXUS project is currently expected to receive co-financing of EUR 39,292,253, with the final grant award subject to the successful completion of the preparation phase and contract signing.

This achievement is particularly significant given that it was KONČAR’s first-ever application to the Innovation Fund and it succeeded on the first attempt. The call attracted 358 project applications, with requested funding exceeding the available budget by six times. In such a highly competitive environment, KONČAR’s success confirms the international recognition of Croatian engineering expertise and its ability to develop advanced technological solutions that address the strategic needs of European industry.

The KONČAR NEXUS project focuses on the industrialisation of the innovative KONČAR Smart Power Interface (KSPI), a modular 2.5 MW platform that enables the efficient conversion of power from the medium-voltage grid into direct current. The technology is primarily intended for electrolysers used in green hydrogen production, but it can also be applied in other industrial processes that require DC power. By integrating several traditionally separate components into a single compact solution, the platform will reduce energy losses, simplify installation and improve the efficiency and flexibility of power systems.

The importance of the project goes beyond KONČAR and represents a major step forward for the Croatian economy. The planned establishment of a new production line, together with the modernisation of development and testing infrastructure, will create opportunities for new highly skilled jobs, stronger local supply chains and the development of high-value products with international market potential. This gives Croatia an opportunity to further strengthen its position among European manufacturers of advanced energy technologies and actively contribute to the industrial and technological independence of the European Union.

Additional recognition of the project’s excellence comes through the STEP Seal, a prestigious quality label awarded by the European Commission following a positive evaluation by independent international experts. The recognition is granted to projects that meet high-quality standards and contribute to the European Union’s strategic technology goals. In addition to confirming technological excellence at the international level, the STEP Seal increases the project’s visibility among European institutions and investors and supports access to additional or complementary funding opportunities from European and national sources.

The project’s success is also the result of strong cooperation between experts from different companies within the KONČAR Group, who combined their technological, development, manufacturing and business expertise throughout the application process. This approach further strengthened collaboration across the Group and demonstrated the value of working together to achieve ambitious development goals. It is particularly noteworthy that this result was achieved just two years after the establishment of a dedicated team focused on European projects and related funding opportunities, confirming the value of systematic investment in new capabilities within a relatively short period.

KONČAR NEXUS therefore represents much more than a single project success. It is proof that Croatian industry has the knowledge, innovation potential and capabilities needed to take part in Europe’s most demanding technological initiatives as an equal partner. At the same time, it marks another important step in delivering the People, Technologies, Investments – KONČAR 2030 strategy, through which the Group continues to strengthen its position as a leader in the energy transition and the development of advanced technological solutions.

We would also like to take this opportunity to thank EY Croatia and Spinverse for their valuable support and contribution throughout this entire process.