Energy technology firm EnergyIntel recently hosted Chief Scientist and Research and Innovation Foundation (RIF) president Demetris Skourides, according to an announcement released on Wednesday.

Skourides visited the company’s headquarters to discuss their achievements under the foundation’s Disrupt programme.

During the visit, Skourides emphasised the “crucial role of collaboration and mutual support in fostering innovation in Cyprus”.

The announcement stated that this visit highlighted the government’s support for “maximising the impact of grants” by fostering productivity and innovation within key local companies.

EnergyIntel secured a €1.5 million Disrupt grant as well as an additional €1 million in equity capital.

This mixed funding approach, the announcement explained, supports scale-up companies.

It added that EnergyIntel’s funding underlines its “dynamic presence and pioneering contributions” in energy technology.

Among other things, the Disrupt programme recognises technologies that contribute to sustainable energy solutions and is seen as a critical validation of EnergyIntel’s “excellence in thermal energy storage technology”.

Skourides underscored that the Disrupt award is a testament to “EnergyIntel’s groundbreaking technologies”, benefiting shareholders and investors alike.

EnergyIntel is one of only eight companies funded under Disrupt, and Skourides acknowledged that the grant has been “instrumental in propelling the company into the global commercial arena”.

The programme aims to “attract top scientific talent,” including Cypriot engineers and researchers returning from abroad and international experts.

This will ultimately support EnergyIntel’s global commercialisation plan to introduce its technologies into international markets.

It should be noted that EnergyIntel’s Disrupt grant complements previous funding from the Innovate programme and was awarded after a rigorous EU assessment, validating the company’s TES (Thermal Energy Storage) solution as a “leading solution in sustainable energy”.

Skourides said that this recognition “not only certifies the innovation but also strategically supports efforts to repatriate high-level scientific talent”.

Over recent years, the announcement said, EnergyIntel has successfully brought back scientists from countries such as the UK, Denmark, and the Netherlands, thus “helping Cyprus combat its brain drain”.

During the visit, Skourides was briefed on the company’s ambitious vision to become “Cyprus’ first unicorn in the energy technology sector”.

The company explained that it is focused on establishing itself as a global leader in energy technology through its TES E247-V1 system, a patented technology that stores thermal energy in recyclable, high-efficiency materials.

This technology has demonstrated 95 per cent operational availability over ten months during its use in Dubai’s NOOR Energy 1 project and has been validated by independent assessment service DNV.

In terms of maintaining competitiveness, EnergyIntel said that it holds more than 94 registered patents globally and has additional patents in development, reinforcing its “leadership in the energy sector” and ability to deliver “cutting-edge solutions that shape the industry’s future”.

Moreover, the announcement said that EnergyIntel’s steady growth has been enabled by a strategy balancing profit generation with sustainability.

This has brought the company recognition for its solar thermal energy production unit and the innovative ELECTRON247 thermal storage solution, marking it as a “promising rising star” in energy innovation.

Skourides commended the company’s international partnerships, noting that EnergyIntel is part of the Hellenic Impact Investing Network and the Long-Duration Energy Storage Council, which he said “defines and shapes the future of energy storage technology”.

With €8.1 million raised through recent seed funding rounds, EnergyIntel’s financial development is well-aligned to advance its R&D capabilities, infrastructure scaling, and strategic partnerships as it introduces TES solutions to global markets.

Marios Alexandrou, COO of EnergyIntel, said that the firm’s model is “not solely focused on research but primarily on commercialisation”, targeting collaboration with “the world’s largest clients”.

Finally, CEO Evgenia Herodotou praised the Disrupt programme, emphasising its role in advancing Cyprus’ innovation ecosystem by supporting firms like EnergyIntel.