The European Commission has just launched the first call for proposals under the Innovation Fund, with over 1 B€ allocated for clean technology projects. This massive programme is meant for the projects for innovative low-carbon technologies and it is financed by revenues gained from the auction of emission allowances from the EU's Emissions Trading System.
The Innovation Fund is financing breakthrough technologies for renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage. It will boost green technologies by creating local jobs and by leading the way to climate neutrality. At the same time, it aims to reinforce Europe’s technological leadership from a globally perspective
The first call will release grant funding of 1 B€ to large-scale projects focusing on clean technologies. The funding is meant to help these companies to deal with the risks related to commercialisation and large-scale demonstration and assist new technologies to reach the market. For promising projects that are not yet ready for market, a separate budget of 8 M€ is reserved for project development purposes
Projects will be evaluated as follows:
- their potential to avoid greenhouse gas emission
- innovation potential
- financial and technical maturity
- potential for scaling up
- cost efficiency.
The deadline for submitting the applications is 29 October 2020. Contact Spinverse for a free 30-minute evaluation to find out if your company can contribute to a greener Europe! Our experts on EU funding are there to help you.
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