European funding: 1.5 billion for the Innovation Fund

The second call of the Innovation Fund for large-scale projects was published on 26 October 2021 with a volume of 1.5 billion euros.

This is a call from the Commission for proposals to receive grants in the field of demonstration of innovative low-carbon technologies. The call of the Innovation Fund is aimed specifically at projects in all sectors covered by Article 10a (8) of the EU Directive 2003/87 / EC (ETS Directive).

The  deadline  for submitting all applications is set for  March 3, 2022 , 5.00 pm CET.

What is the general objective of the Fund? 

The Innovation Fund is one of the largest programs at European level for the demonstration of innovative low-carbon technologies, financed by the proceeds of the auction of emission allowances of the EU's Emissions Trading System. 

With a turnover of over 25 billion euros until 2030, the Innovation Fund was created with the aim of creating the right financial incentives for companies and public authorities to immediately invest in the next generation of low-carbon technologies and trying to give European companies an edge to become leaders in the sector.  

The Innovation Fund is designed by the European Commission and is implemented by the European Executive Agency for Climate, Infrastructure and the Environment (CINEA).

What are the specific objectives of this new call?

With the budget that has doubled compared to the first call, the idea is to specifically finance innovative technologies for renewable energy, energy-intensive industries, energy storage and capture, use and storage. carbon.    

This new funding opportunity aims to give force to projects of technologies defined as innovative and above all low emissions, thus following the objectives of:

-supporting innovative technologies, industrial processes or products that already have a mature background in terms of planning, business model and financial and legal structure, and which are oriented towards the reduction of greenhouse gas emissions;

-promoting an initial financial support useful for the needs of the market with the ultimate aim of attracting new public and private investments in the reference contexts. 

Who can send their application? 

A single legal entity, as well as a consortium of legal entities, can apply for funding under the Innovation Fund. The aim is to support innovative low-carbon technologies in all Member States to make them reach the market. The project must be implemented in one of the EU Member States, Norway or Iceland, therefore projects implemented outside these countries are not eligible. 

You can read the text of the call on the European Commission website .

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