Project 2023-372950

WaveErest Ltd. in its capacity as a beneficiary under Grant Agreement No. 2023/372950 "Innovative technology for processing of recycled neoprene", announces a contractor selection procedure with subject: "Delivery, installation, testing and commissioning of recycled steam boiler - 1 pc.”

The application documents can be downloaded from here.


In May 2023, WaveErest EOOD signed a project implementation contract 2023/372950 „Innovative technology for processing of recycled neoprene“. The project will be implemented with the financial support of the Norwegian Financial Mechanism, Green Industry Innovation focus area, in the frame of the Business Development, Innovation and SMEs Programme.

The main goals of the project are:

  • Investment in innovative green technology for producing of recycled neoprene with different physical/mechanical properties;
  • To introduce an innovative optimized technology for cutting recycled neoprene, which will significantly expand the company's product portfolio;
  • Significant expansion of the company's portfolio with a variety of high quality new environmentally sustainable products made entirely from recycled neoprene;
  • Increasing competitiveness and innovative technologies;
  • Raising awareness and driving proactive behavior in society when it comes to mitigating the environmental footprint of neoprene-based manufacturing processes

The approved project budget is 224 848 EUR and the amount of the grant is 175 992 EUR.

Period of implementation: May 2023 – April 2024.

The Programme “Business Development, Innovation and SMEs, Bulgaria” shall contribute to the general objectives of Norway Grants 2014-2021, respectively to the reduction of economic and social disparities in the European Economic Area and to strengthening bilateral relations between Norway and Norway Grants Beneficiary States. The Programme has the objective to increase value creation and sustainable growth in the Bulgarian business sector. The Programme seeks to stimulate and develop long-term business cooperation between Norway and Bulgaria based on business development and innovation.

Supported by the Norway Grants 2014-2021, in the frame of the Programme Business Development, Innovation and SMEs, Bulgaria.