The Innovation Fund is a key funding instrument to deliver on the EU climate goals under the European Green Deal and reinforce European technological leadership on a global scale. It will provide around EUR 10 billion of support over 2020-2030 for the commercial demonstration of innovative low-carbon technologies, aiming to bring to the market industrial solutions to support the transition to climate neutrality.
This is done through calls for large and small-scale projects focusing on:
- innovative low-carbon technologies and processes in energy-intensive industries, including products substituting carbon-intensive ones
- carbon capture and utilisation (CCU)
- construction and operation of carbon capture and storage (CCS)
- innovative renewable energy generation
- energy storage
The newly launched call for small-scale projects is open for projects located in all EU Member States. It is eligible for projects with a capital expenditure comprised between EUR 2.5 and 7.5 million and focuses on innovative yet mature technologies that are ready to reach the market. The funds can be used in cooperation with other public funding initiatives, such as State aid or other EU funding programmes, as well as combined with private investments.
Projects will be evaluated according to their potential to avoid greenhouse gases emissions, innovation potential, financial and technical maturity, and potential for scaling up and cost efficiency. Projects can apply via the EU Funding and Tenders portal where more details on the overall procedure are available.
The first call for proposals for small-scale projects is open until 10 March 2021.