European Commission Innovation Fund Open for Applications
The European Commission has launched the 2023 call for proposals for its Innovation Fund with a record budget of €4 billion to support the deployment of innovative decarbonisation technologies.
With an estimated revenue of €40 billion from the EU Emissions Trading System between 2020 and 2030, the Innovation Fund aims to create financial incentives for companies and public authorities to invest in cutting-edge low-carbon technologies and support Europe’s transition to climate neutrality.
Project promoters may apply for grants under five topics with distinct budget and capital expenditure (CAPEX) requirements:
- General decarbonisation (large-scale) – €1.7 billion available for projects with CAPEX above €100 million.
- General decarbonisation (medium-scale) – €500 million available for projects with CAPEX between €20 million and €100 million.
- General decarbonisation (small-scale) – €200 million available for projects with CAPEX between €2.5 million and €20 million.
- Cleantech manufacturing – €1.4 billion available for projects with CAPEX above €2.5 million focusing on the manufacturing of components for renewable energy, energy storage, heat pumps and hydrogen production.
- Pilot – €200 million available for projects with CAPEX above €2.5 million focusing on deep decarbonisation.
Projects will be assessed based on their potential to reduce greenhouse gas emissions, their degree of innovation, maturity, replicability and cost efficiency.
The Innovation Fund can cover up to 60% of a project’s relevant costs. Projects located in the EEA are eligible to apply, and following the recent revision of the EU ETS Directive the Innovation Fund calls are now also open to the maritime, road transport and buildings sectors, in addition to technologies in energy-intensive industries (including aviation), renewable energy or energy storage.
The 2023 call is open to applications until 9 April 2024 (17:00).
Applicants are strongly encouraged to attend the IF23 Call Info Day, which will take place online on 7 December 2023.
(This report was the subject of a ResearchConnect news alert.)