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 application deadline for large-scale projects (Innovation Fund Large Scale) is 16th March 2023.

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

Stephan Korbella

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Stephan Korbella

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