The Enterprise Europe Network informs:
11/27/2023
The European Commission is calling for proposals for the Innovation Fund 2023. With a record budget of 4 billion euros, the fund supports the use of innovative decarbonization technologies. The money comes from revenues from EU emissions trading and applications for funding can be submitted until April 9, 2024.
Project sponsors can apply for funding in five thematic areas with different budget and capital expenditure (CAPEX) requirements:
- General decarbonization (large projects) - €1.7 billion for projects with CAPEX over €100 million
- General decarbonization (medium-sized projects) - €500 million for projects with CAPEX between €20 million and €100 million
- General decarbonization (small projects) - 200 million euros for projects with CAPEX between 2.5 million euros and 20 million euros
- Clean manufacturing - 1.4 billion euros for projects with CAPEX over 2.5 million euros, focusing on the production of components for renewable energy, energy storage, heat pumps and hydrogen production. The amount available has been doubled compared to the previous round, with the aim of strengthening industrial manufacturing capacity, technological leadership and supply chain resilience in Europe.
- Pilot projects - €200 million for projects with CAPEX over €2.5 million focused on deep decarbonization
Projects will be assessed based on their potential to reduce greenhouse gas emissions, level of innovation, maturity, replicability and cost-effectiveness. The Innovation Fund can cover up to 60 percent of the relevant project costs. Projects in the European Economic Area are eligible to apply.
For more information, click here .
Source: European Commission
