More than 300 applications for share of €1 billion clean tech funding
More than 300 applications have been received in response to the €1 billion first call for large-scale projects of the Innovation Fund, the European Commission's funding programme to support the development of low-carbon technologies and innovative clean technology.
A total of 311 submissions have been received with 58 in the renewable energy sector; 204 for energy-intensive industries (of which 56 are in hydrogen); 35 for energy storage; and 14 for carbon capture, use and storage.
Applications come from potential projects in all European Union (EU) Member States, Iceland and Norway with a total of €21.7 billion funding requested. The proposed projects promise to reduce around 1.2 billion tonnes of CO2 during their operating period within the Innovation Fund, roughly the equivalent of a third of EU emissions for 2018.
The funding of projects under this call seeks to boost the EU’s green recovery, deliver on the EU climate goals under the European Green Deal and reinforce European technological leadership on a global scale.
Mauro Petriccione, Director-General for DG Climate Action, said: "We are thrilled to have received so many applications for the first Innovation Fund call. These applications are for clean tech projects in all EU Member States, Iceland and Norway thus paving the way for the transition to climate neutrality across Europe. This is impressive as it shows the conviction of our businesses that in these uncertain times green investments are the way forward."
Applications will now be checked for eligibility before being evaluated by external experts, with applicants be informed whether they have been successful in the first quarter of 2021.
The 70 best ranked projects will be invited to submit a full application for the second stage by 23 June 2021, while rejected proposals that have the potential to improve may be invited to apply for the project development assistance provided by the European Investment Bank.
