Commission invests €100 million in innovative clean technology projects
Building up on the success of the first call for large-scale projects, the European Commission recently launched the Innovation Fund call for small-scale projects. This call is targeting projects with a capital expenditure between €2.5 and 7.5 million, and it will provide grant funding of €100 million for innovative clean technologies that will contribute to Europe’s green recovery.
Innovation Fund call
The grants can amount to a maximum of 60% of the project costs. With this call, the Commission aims to support clean technologies and help businesses investing in clean energy, which in turn can provide a boost to economic growth, create local jobs and give a competitive advantage to the European industry.
The call is open for projects in eligible sectors (renewable energy, energy-intensive industries, including products substituting carbon-intensive ones, energy storage and carbon capture and storage) from all EU Member States, Iceland and Norway. The funds can be used in cooperation with other public funding initiatives, such as State aid or other EU funding programmes.
Projects will be evaluated according to their potential to avoid greenhouse gas emission, innovation potential, financial and technical maturity, and potential for scaling up and cost efficiency.
The Innovation Fund Small Scale Projects programme is now open for submission. The deadline for submission of applications is March 10, 2021, 17:00 CET. Applicants will be informed about the results of the evaluation in the fourth quarter of 2021.
The Innovation Fund is one of the world’s largest programmes for the demonstration of innovative low-carbon technologies, financed by revenues from the auction of emission allowances from the EU’s Emissions Trading System.
The Innovation Fund aims to create the right financial incentives for companies and public authorities to invest now in the next generation of low-carbon technologies and give EU companies a first-mover advantage to become global technology leaders.
Do you wish to know more?
Are you working on an innovative development? And do you wish to know what opportunities the Innovation Fund Small Scale Projects can offer you? Then please contact Roy Hoven, manager Subsidiefocus, by calling +31 (0)73-6465475 or send Roy an email.