TEM: Investment grant for large demonstration projects in new energy technology for the year 2023

Large demonstration projects for new energy technologies have received significant support from the Ministry of Economic Affairs and Employment (TEM). The investment grant is targeted towards new energy solutions that can help Finland achieve its EU 2030 targets and national targets by 2035. A total of 200 million euros will be granted, of which 100 million euros are reserved for hydrogen projects.

The application round is open until September 2023, and the first approvals are projected to be made by the end of the year if there are enough applications. Grant can cover up to 40% of eligible costs, and no deadline has preliminary been set for starting the project.

The focus of the application round is on:

• renewable hydrogen production,

• renewable transport fuels,

• waste heat utilization and non-combustion-based heat production,

• energy savings and efficiency in energy production and use, and

• other major demonstration projects for new energy technologies.

The grant programme for new technologies is intended for the first commercial-scale demonstrations, in which new solutions are implemented nationally and internationally.

Applications can be submitted by companies, municipalities, and other communities whose project meets the criteria. The investment costs must be over 5 million euros, and the project must include new technology that would not be introduced or launched without the grant. Resources, previous experience, and references related to the implementation of the project are important evaluation criteria.

Grannenfelt Finance offers comprehensive financial services and advice to businesses that want to develop and grow their business sustainably. We have extensive experience in utilizing investment grants, and we are able to assist you throughout the application process. Contact us in order to review how we can help your company get the best possible benefits from investment grant.

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