Explore the words cloud of the FACT project. It provides you a very rough idea of what is the project "FACT" about.
The following table provides information about the project.
FALEX TRIBOLOGY NV
|Coordinator Country||Belgium [BE]|
|Total cost||71˙429 €|
|EC max contribution||50˙000 € (70%)|
1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
|Duration (year-month-day)||from 2018-05-01 to 2018-10-31|
Take a look of project's partnership.
|1||FALEX TRIBOLOGY NV||BE (ROTSELAAR)||coordinator||50˙000.00|
Falex Tribology, established in 1999 in joint venture with the University of Leuven, is a solvent and debt-free SME with extensive own wear test infrastructure in Rotselaar, Belgium. Falex services the European industry with wear testing for selection of materials for advanced applications. Customers in automotive, aerospace, biomaterials and industrial sectors are then able to improve products’ lifetime, reliability and performance. Falex could address its customer needs for superior product development with the FACT innovative services that combine the use of a) radically more efficient multistation tribometers (MST); and b) a rich and continuous build-up materials wear database. This service is not yet available commercially in Europe or worldwide, supporting the innovative nature of the FACT proposal. With the commitment of Falex’s board and CEO, the ambition is to bring FACT innovative services to the market and offer to tailored wear data at least: a) 10 times faster than current wear testing; b) 80% reduced cost; and c) 10 data points for statistical value.
The expected impact from the implementation of FACT services will be superior products that last longer, consume less energy, increase infrastructure’s safety, reduce operation risks, preserve natural resources and improve the environmental footprint of products and processes. Falex’ annual turnover can reach 14 M€ and employ 20 new persons by 2020. ROI is 3 years with positive cash flow from year 4 of commercialisation of the FACT services.
The Feasibility Study during phase-1 will a) ensure the technical and commercial viability of the FACT project; b) demonstrate the MST to targeted users for selected applications; c) analyse FACT competitors; d) confirm the willingness to pay by the targeted users; e) present a detailed SWOT analysis; and f) set the criteria for success of the business plan.
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The information about "FACT" are provided by the European Opendata Portal: CORDIS opendata.
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