EU Innovation Fund: €100 million for innovative clean technology projects

Innovation FundEuropean Commission: €100 million for innovative clean technology projects

The second call for small-scale projects under the Innovation Fund is still open. 

It is one of the world’s largest funding programmes for the deployment of innovative low-carbon technologies, financed by revenues from the auction of emission allowances from the EU’s Emissions Trading System.

The call will provide grant funding of €100 million to small-scale projects, i.e. projects with a capital expenditure between €2.5 and 7.5 million, in renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage.

The funding will help highly innovative technologies, which are sufficiently mature and have a strong potential to reduce greenhouse gas emissions compared to conventional technologies, overcome the risks linked to commercialisation and reach the market. For the first time since the creation of the Fund, the innovativeness of a project will be assessed in comparison to existing technologies in the country where the project will be implemented, and not in the European-wide landscape.

The Innovation Fund can support up to 60% of a small project’s capital expenditure. Projects will be evaluated against their potential to avoid greenhouse gas emissions, their innovation, their financial and technical maturity, their potential for scaling up and their cost efficiency.

The call is open for projects from all EU Member States, Iceland and Norway until 31 August.

Up to 20 projects that are evaluated as promising but not sufficiently mature for a grant may receive project development assistance by the European Investment Bank.

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