Frenetic Took EIC Accelerator Money for AI Magnetics, Then Grew

Every power supply, electric vehicle charger and satellite power unit contains magnetic components, the transformers and inductors that store and convert energy, and most of them are still designed by hand, by trial and error. SP Control Technologies, a Madrid company that renamed itself Frenetic Electronics in 2023, told the European Union it could cut that work from about six months to a few hours with software trained on laboratory measurements. In the EIC Accelerator pilot's January 2020 cut-off it won a grant-only award for FRENETIC, a project to scale up that software, with an EU contribution of €1,061,375 towards a total cost of €1,516,250, according to CORDIS. The European Commission's list of selected companies for 8 January 2020 names the winner as "SP Control", Madrid, with the website spfrenetic.com, and lists no other company for the project.

Six years later the company is active, has raised two more venture rounds and sells its design software alongside a manufacturing service. Its turnover is still small: Spanish business registers put annual sales between €1 million and €2.5 million. The register gives its incorporation as 29 January 2015, according to Empresia and Infoempresa, while Tech Funding News and Forbes España give 2018 as the founding year.

What Frenetic Does Today

The company sells two things. The first is design software. Its website lists a Magnetic Simulator for cores, windings, losses and heat, a Planar Tool for flat transformers, and an AI Converter Assistant that suggests power supply designs and the magnetics they need, and claims teams work "80% faster" with it. The second is manufacturing. In June 2024 it launched Frenetic Factory, a production service with plants in the USA, Mexico, Europe, India and China and a stated capacity of 8.75 million units a year, delivering samples without minimum order quantities, according to its announcement and Power Electronic Tips. Neither source says whether those plants are owned by Frenetic or by contract manufacturers.

The company is still visibly active in 2026. It held two online product sessions in February 2026, on its 2026 roadmap and on how it models magnetics, according to the Passive Components Blog events calendar. The Madrid register recorded a new company proxy in December 2025, according to Empresia, and Infoempresa gives 12 December 2025 as the date of its latest BORME notice and lists it as active. CORDIS shows that Frenetic is a partner in Moore4Power, an EU power electronics project coordinated by Infineon that started on 1 May 2026.

The Technology: Fitting Magnetics to Measurements

Engineers usually size a transformer or inductor with textbook equations, build a sample, measure it and repeat. CORDIS describes the result as about six months of work for designs that are "almost never satisfactory". Frenetic's approach, as described in 2019 by Magnetics Business & Technology, combines Maxwell's equations with machine learning trained on measurements of real samples, so the software corrects the gap between theory and the measured behaviour. It searches millions of combinations of core shapes, materials and suppliers. The same article reported a partnership with Ferroxcube, a core maker, to put its material data into the platform. The CORDIS report adds that the company set up its own laboratory to build samples for training data, which it supplements with finite element simulations and data generated with genetic algorithms.

The performance claims vary by source and all come from the company. In 2019 it told Baker Tilly that its designs cut manufacturing cost by 30% and were 50% smaller. The CORDIS objective promises designs "in just a few hours" and half the cost and size. In 2021 it said one client had cut design time from six months to two hours and manufacturing costs by 50%, according to Capital Riesgo. By its 2023 funding round the claim had become "nine months to one week" with three times the accuracy, according to Tech Funding News and Tech.eu, a figure that includes building the sample. No independent benchmark of these numbers has been published.

What the EIC Project Promised, and What CORDIS Shows

FRENETIC ran from 1 June 2020 to 31 May 2022, the dates set when the grant was signed on 19 May 2020, and is marked closed on CORDIS. Its objective was to take a "fully evolved version" of the software to market and "demonstrate its value in a fully operative environment". The final periodic report, covering June 2021 to May 2022, set two concrete goals: a platform that designs magnetic components in minutes with AI models, and a marketplace inside the platform where manufacturers quote for the designs and clients place purchase orders.

The report says the platform, Frenetic Online, launched in December 2020 with a simulator, a library of reference designs and a user forum, and that several US companies bought licences. It also says the platform was integrated with SIMBA, a circuit simulator, and that results were shown at the APEC and PCIM trade fairs in spring 2022. Power Electronic Tips dates the launch of the online design service to 2021, which differs from the report. On the marketplace, the report is written in the future tense: the platform "will" become a full marketplace. No public source shows an open marketplace of outside manufacturers. What the company launched instead, two years after the project ended, was its own production service, Frenetic Factory, which turns platform designs into samples and production orders.

1. AI platform for magnetics designDeliveredFrenetic Online launched in December 2020, per CORDIS; its tools are sold today on frenetic.ai.
2. Paying customers in a real operating environmentDeliveredUS licence sales per CORDIS; Thales Alenia Space, Sumida and Bosch named as clients by Forbes España and Tech.eu.
3. Marketplace for manufacturers' quotes and ordersChangedNot launched as an open marketplace; replaced in 2024 by the company's own Frenetic Factory service.
4. Designs in hours at half the cost and sizeClaimed onlyCompany figures range from two hours to one week; no independent test published.

Because the marketplace was not built as promised, the award counts here as partly delivered. The main promise, a working AI design tool in the hands of paying customers, was kept, and the project ended on schedule.

What Frenetic Has Achieved Since the Award

The private money grew with each round. In September 2019, months before the EIC award, the company raised €1.3 million led by the German fund 42Cap, with Big Sur Ventures, Bankinter and Busy Angels, according to Baker Tilly. In September 2021, during the EIC project, Bonsai Ventures and Join Capital joined in a €4.5 million round, according to Capital Riesgo and the law firm ECIJA. Capital Riesgo reported that the company named the EIC Accelerator pilot as backing it in 2020. In November 2023 Kibo Ventures led an €11.2 million Series A, with all earlier funds taking part, to open an office in Silicon Valley and expand in the US, according to Forbes España and Tech Funding News. Whether the US office opened could not be verified from the sources consulted.

Each round left a mark in the register. Share capital rose from €29,524 to €36,612 in October 2021 and to €48,897 in September 2023, when the company also took the name Frenetic Electronics SL and moved to its current address, according to BORME entries listed by Empresia. The board now includes, besides Molina as chair and chief executive, Alex Meyer, Jan Nils Borgstadt and Juan Manuel López Santamaría. Tech Funding News reported that Jonas Mühlethaler, founder of Gecko Simulations and a professor at the Lucerne University of Applied Sciences and Arts, had joined the team.

The named customers have changed from round to round. Baker Tilly listed Huawei, Indra, Airbus, Novasonix and Ferroxcube in 2019. In 2021, Capital Riesgo and ECIJA listed Mercedes Formula 1, ABB, Apple and Siemens. In 2023, Forbes España and Tech.eu named Thales Alenia Space, Novasonix, Bosch and Sumida, and the website now shows logos of Triad, GE, Bosch, Thales, NASA, Pulse, Infineon and Sumida, with a testimonial from an engineer at NASA's Jet Propulsion Laboratory. None of these customers has published the size of its contract.

Frenetic has also become a partner in larger EU research projects. It received €262,500 as a partner in PowerizeD, a €73.3 million project on digital power electronics that ran from 2023 to 2025, and €195,750 in Moore4Power, a €90.7 million project running from 2026 to 2029. Infineon coordinates both.

The Money

The company's filed accounts are not free to view. Empresia lists annual accounts deposited for 2020 to 2024 and an annual turnover "between €1,000,000 and €2,500,000"; Infoempresa gives turnover of less than €2 million and 10 to 49 employees. The two brackets overlap but are not identical, and neither gives exact revenue, profit, equity or staff figures, which could not be verified for this article. On those brackets, sales remain small next to the €17 million of announced venture funding and the multi-billion-euro market the EIC proposal described.

The EIC Fund, the European Innovation Council's investment arm, did not take a stake. Frenetic does not appear among the 326 companies on the 17 pages of the EIC Fund portfolio, which fits a grant-only award.

Why Europe Should Care

Magnetic components sit in every converter that electrification depends on, from vehicle chargers to grid equipment and satellites, and slow magnetics design delays the whole power supply. The EU's Chips Act, in force since 21 September 2023, funds research and pilot lines through the Chips Joint Undertaking. Moore4Power is funded under that joint undertaking's 2025 call and PowerizeD under its predecessor, the Key Digital Technologies joint undertaking, according to CORDIS. A Spanish design tool working inside two Infineon-led consortia shows the company has a place in the European power electronics supply chain. Its 2021 investors also linked it to the component shortage: ECIJA's note said its design and stock search technology aimed to address supply problems.

The Verdict

Frenetic has not been asked for comment for this article. It is based entirely on public records, company statements and EU project data, linked throughout.