Under the Innovation Fund, the largest funding programme to bring clean innovative technologies to the market, the European Commission launched the first call for proposals on innovation in low-carbon technologies and processes.
The Innovation Fund will finance breakthrough technologies for: renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage (CCU). It will provide a boost to a green recovery by creating local future-proof jobs, paving the way to climate neutrality and reinforcing European technological leadership on a global scale.
The Innovation Fund will focus on highly innovative technologies and flagship projects with European value added that can bring on significant emission reductions. According to the Executive Vice-President for the European Green Deal, Frans Timmermans: “The EU will invest €1 billion in promising, market-ready projects such as clean hydrogen or other low-carbon solutions for energy-intensive industries like steel, cement and chemicals. We will also support energy storage, grid solutions, and carbon capture and storage. These large-scale investments will help restart the EU economy and create a green recovery that leads us to climate neutrality in 2050.”
The first call for proposals for large-scale projects is open until October 29, 2020. Projects applications can be completed via the EU Funding and Tenders portal.