Illustration/Tocardo's tidal turbine array (Courtesy of Tocardo)

EU’s Innovation Fund launches €100M call for innovative low-carbon projects

The European Commission has launched a call for small-scale projects focusing on innovative technologies in renewable energy, heavy industry, energy storage, and carbon capture as part of its Innovation Fund.

Illustration/Tocardo's tidal turbine array (Courtesy of Tocardo)
Illustration/Tocardo's tidal turbine array (Courtesy of Tocardo)
Illustration/Tocardo’s tidal turbine array (Courtesy of Tocardo)

The Commission has set aside €100 million to help drive emissions reductions and boost the uptake of low-carbon technologies and processes in all sectors.

Eligible to apply to the call are small-scale projects with capital expenditure between €2.5 – 7.5 million, and located in EU Member States, Iceland and Norway.

The funds can be used in combination with other public funding sources, such as state aid or other EU funding programs, the Commission noted.

The selected projects will contribute to the transition to a climate-neutral economy by 2050, and will be evaluated against five criteria, including greenhouse gas emission avoidance, degree of innovation, project maturity, scalability, and cost efficiency.

Applicants can submit their proposals via the EU Funding and Tenders portal where all relevant information is available, with the deadline for submissions set for August 31, 2022.

The Innovation Fund is one of the world’s largest funding programs for the demonstration of innovative low-carbon technologies. The Fund aims to bring to the market industrial solutions to decarbonize Europe and support its transition to climate neutrality.

For the period 2020-2030, the Innovation Fund will allocate around €38 billion from the auctioning of allowances under the EU Emissions Trading system, subject to the carbon prices.

The Innovation Fund is implemented by the European Climate, Infrastructure and Environment Executive Agency (CINEA).

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