The European Commission has launched a €4bn call for proposals to support the deployment of innovative decarbonisation technologies in the European Union under the EU’s Innovation Fund. The 2023 call will be funded by revenues from the EU Emissions Trading System (EU ETS). Projects will be assessed based on their potential to reduce greenhouse gas (GHG) emissions, their degree of innovation, maturity, replicability and cost efficiency. The Innovation Fund can cover up to 60% of a project's relevant costs.
Project promoters can apply for grants under five topics with distinct budget and capital expenditure (CAPEX) requirements: large-scale decarbonisation projects (€1.7bn available for projects with CAPEX above €100m) ; medium-scale decarbonisation projects (€500m available for projects with CAPEX between €20m and €100m) ; small-scale decarbonisation projects (€200m available for projects with CAPEX between €2.5m and €20m) ; cleantech manufacturing (€1.4bn available for renewable energy, energy storage, heat pumps and hydrogen production projects with CAPEX above €2.5m) ; and pilot decarbonisation projects (€200m available for projects with CAPEX above €2.5m).
Fund calls are open to the maritime, road transport and buildings sectors, in addition to technologies in energy-intensive industries (including aviation), renewable energy or energy storage. The project evaluation results will be unveiled in the fourth quarter of 2024 and successful applicants will sign grant agreements in the first quarter of 2025.
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