EU Innovation Fund: €3 Billion for Decarbonisation Projects
In the context of increased revenues from the auctioning of the EUs Emission Trading Scheme (ETS) allowances, the European Commission recently announced on its website that it will double the financial support for industrial decarbonization projects from €1.5 bn in 2022 to €3 bn in 2023. Since the beginning of November 2022, the calls for proposals have been open to industrial companies of all sizes (from SMEs to large enterprises).
Projects under the following topics are funded with a maximum rate of 60%:
General decarbonisation (budget: €1 bn): Innovative projects in the field of renewable energy, energy-intensive industries, energy storage or carbon capture, use and storage, and innovations that replace carbon-intensive products (especially low-carbon transport fuels, including shipping and aviation),
Electrification in industry and hydrogen (budget: €1 bn): Innovative projects on electrification methods to replace the use of fossil fuels in industry. Additionally, the production of renewable hydrogen and hydrogen uptake in industry will be promoted,
Clean tech manufacturing (budget: €0.7 bn): Innovative projects in the domain of components´ production as well as final equipment for electrolysers and fuel cells, renewable energies, energy storage and heat pumps, and
Medium-sized pilot projects (budget: € 0.3 bn): Innovative projects up to € 7.5 mio project volume in disruptive or breakthrough technologies for comprehensive decarbonisation in all eligible sectors of the fund.
The projects are designed to prove the respective innovation in an operational environment. They are evaluated according to their degree of innovation, their potential to avoid greenhouse gas emissions, their operational, financial, and technical maturity as well as their scaling potential and cost efficiency.
The funding programme applies to implementation projects in all the EU Member States as well as Iceland and Norway.
EurA has gained extensive experience with the Innovation Fund funding programme in recent years. Are you also interested and would like to learn more? Then please contact us and we will support you in your application process.
Author: Stephan Korbella
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Stephan Korbella
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I am working at EurA as an expert for European projects. Since my graduation as an industrial engineer in 2013, I have been supporting customers for more than 8 years on issues related to the implementation and execution of highly scalable innovations. On the one hand, my focus is on supporting the acquisition of funding, from EIC projects to the Innovation Fund and European collaborative projects. On the other hand, I help companies and institutes to plan, initiate and execute disruptive projects at a stage where extensive development and research work is still needed until market launch. I offer good technological understanding, coupled with a strategic mindset, a global perspective and knowledge of a wide range of business models. And I have in-depth knowledge of the energy industry, and his interests lie in linking energy topics with the environment, digitalization and ICT.
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