- Posted 20-Dec-2021
Commission awards 27 grants under the Innovation Fund
27 projects selected for a grant under the first Innovation Fund call for small-scale projects signed their grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA), the implementing body of the Fund. This brings the total number of projects supported under this call to 30.
Together, these 30 projects, aiming to bring low-carbon technologies to the market in energy-intensive industries, hydrogen, energy storage and renewable energy, will benefit from a total grant of €109 million.
The projects will focus on the decarbonisation of energy-intensive industries, specifically in the sectors of iron and steel, hydrogen, biofuels and biorefineries, pulp and paper, refineries, non-ferrous metals, glass, ceramics and construction material, and the decarbonisation of the energy sector, through innovative production and use of renewable energy or storage solutions. They are located in 13 Member States and they all have a total capital expenditure below EUR 7.5 million (small-scale projects).
The next call dedicated to small-scale projects will open on 31 March 2022. On 26 October, the Commission launched the second call for large-scale projects under the Fund with a budget of €1.5 billion to finance breakthrough technologies for renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage. The call is open until 3 March 2022.
Background
Funded by revenues from the auction of emission allowances from the EU’s Emissions Trading System, the Innovation Fund aims to create the right financial incentives for companies and public authorities to invest now in the next generation of low-carbon technologies and give EU companies a first-mover advantage to become global technology leaders.
The Innovation Fund is implemented by the European Climate, Infrastructure and Environment Executive Agency (CINEA), while the European Investment Bank provides the project development assistance to promising projects that are not ready for full application.
Source: European Commission I Climate Action (https://bit.ly/3yOxw2t)