Innovation Fund: €100 million for innovative cleantech projects
On 30 March, the European Commission launched the third Innovation Fund “small-scale call for projects” (with a total budget up to EUR 7.5 million) to support the deployment of innovative low-carbon technologies and industrial solutions that will contribute to the decarbonisation of Europe.
What the subsidy covers:
Together with the Modernisation Fund, the Innovation Fund is a key instrument of the European Commission to support the transition to a low-carbon economy and to enable the EU to meet its commitments under the Paris Climate Agreement. The third call supports small-scale projects with a capital intensity of between EUR 2.5 and EUR 7.5 million. The following activities are supported:
- Transition of energy-intensive industries
- Construction and development of renewable energy sources
- Energy storage and accumulation
- Capture, storage, and reuse of greenhouse gases (CCS, CCU, etc.)
- Eligible costs between EUR 2.5 and 7.5 million
- Subsidy up to 60% of eligible costs
- Call allocation: EUR 100 million
- Date of announcement of the call: 30 March 2023
- Deadline for the submission of project proposals: 19 September 2023
The preparation of an application to the Innovation Fund is quite time-consuming, so if you are considering submitting a project, we recommend that you start working on the project plan as soon as possible. If you are interested in more information, please contact us and we will be happy to guide you through the entire procedure and provide you with maximum support and assistance.