Innovation Fund's record budget for innovative decarbonisation technologies

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The European Commission has opened the Innovation Fund's 2023 call for proposals with a record budget of €4 billion for Innovative Decarbonisation Technologies. The EIF can cover up to 60% of a project's relevant costs and the deadline for applications is the 9th of April 2024.

Changes to previous Innovation Fund calls: 

• Smaller scale projects (min. 2,5 M€) are eligible to apply  

• Innovation Fund calls are now also open to the maritime, road transport and buildings sectors, in addition to technologies in energy-intensive industries (including aviation), renewable energy or energy storage. 

• Projects located in the EEA (suom. ETA-maat) are eligible to apply 

   

FIVE DISTINCT TOPICS 

Grants can be applied under 5 topics with distinct budget and capital expenditure requirements: 

1. Large-scale decarbonisation - €1.7 billion available for projects with CAPEX above €100 million 

2. Medium-scale decarbonisation - €500 million available for projects with CAPEX between €20 million and €100 million 

3. Small-scale decarbonisation - €200 million available for projects with CAPEX between €2.5 million and €20 million 

The following activities can be funded under the above three general decarbonation topics: 

• Activities supporting innovation in low-carbon technologies and processes 

• Activities helping stimulate the construction and operation of projects that aim at the environmentally safe capture and geological storage of CO2 

• Activities helping the construction and operation of innovative renewable energy and energy storage technologies 

   

4. Cleantech manufacturing - €1.4 billion available for projects with CAPEX above €2.5 million  

The call focuses on the manufacturing of components for renewable energy, energy storage, heat pumps and hydrogen production. 

5. Pilot - €200 million available for projects with CAPEX above €2.5 million focusing on deep decarbonisation. 

The following activities can be funded under this topic: Construction and operation of pilot projects that focus on validating, testing and optimising highly innovative, deep decarbonisation solutions in all sectors eligible for Innovation Fund support. 

Pilot projects should prove an innovative, deep decarbonisation or net carbon removal technology or solution in an operational environment but are not expected yet to reach large scale demonstration or commercial production. 

INNOVATION FUND PROJECT PORTFOLIO 

Get to know what the statistics of the Innovation Fund funded projects below. According to the statistics around 14% of the projects are by SMEs.  
 
Innovation Fund Dashboard 

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