The European Commission (EC) announced that the 4 billion euros worth of fund sourced from the EU Emissions Trading System (EU ETS) that is given within the scope of Innovation Fund’s 2023 hopes to boost the deployment of state-of-the-art decarbonisation technologies
This year the commission has doubled the budget specifically for environment friendly technologies. 1.4 billion euros of this budget will be directly used in the strengthening the industrial manufacturing capacity, technology leadership and supply chain resilience all throughout Europe.
A wide range of sectors can benefit from the fund
The Innovation Fund is open for, maritime, road transport, buildings sectors, technologies in energy-intensive industries, renewable energy or energy storage.
Topics of the proposals
Whereas, five topics of the proposals are, General Decarbonisation (Large-scale), General Decarbonisation (Medium-scale), General Decarbonisation (Small-scale), Cleantech Manufacturing and Pilot.
According to EC, fund will cover up to 60 per cent of a project’s costs and the evaluation criteria will be based on the potential of GHG emissions reduction, level of innovation, maturity, replicability and cost efficiency.
Projects’ deadline is 2024
The applications are open until April, 9, 2024 at 17:00 (CET) through EU Funding and Tenders Portal, chosen projects will be notified in the fourth quarter of 2024 and grant agreements are expected to be signed in the first quarter of 2025.