Innovation Fund

Are you, individually or in collaboration with partners, working on an large- or small-scale (demonstration) project focused on CO2-reducing / low-carbon technologies? Then you might be eligible for funding through the European Innovation Fund! Both individual organisations as well as consortia can submit an application.

Areas of interest

The Innovation Fund is available to individual organisation and (multinational) consortia that focus on projects in the field of:

• Carbon Capture, Utilisation and Storage (CCUS)
• Low-carbon technologies /processes in energy intensive industries
• Renewable energy generation
• Energy storage

Your project…

• Shows effectiveness of GHG emissions avoidance
• Shows a high degree of innovation
• Is considered mature enough
• Is assessed on scalability (market potential in 2050)
• Is assessed on cost efficiency (based on calculations of capital and operational expenditures and requested grant in relation to promised GHG emissions avoidance).

Projects that have submitted a full application are eligible for the grant. Projects that meet the first two criteria (abate GHG emissions and show a high degree of innovation) but are not considered mature enough may receive project development assistance (PDA). Furthermore, applications can be submitted by a single entity as well as multi-national consortia.

What kind of projects are eligible?

The fund is available for two types of projects: large-scale projects and small-scale projects.

Large-scale projects

• Through the Innovation Fund, up to 60% of the additional capital and operational costs of a project will be supported
• Disbursement of the grant may be flexible based on jointly set milestones
• Up to 40% of the total grant can be given upfront during the project preparations based on pre-defined milestones.

Small-scale projects

You are also able to submit an application for small-scale project proposals with a CAPEX of less than € 7,5 million. The fields of interest as well as the criteria are the same as for large-scale projects, however, the methodology of calculating the CO2-emissions is simplified and up to 60% of the CAPEX/operational costs of a project can be supported. A call for small-scale projects opens 30 March 2023 and closes on 31 August 2023.

About the Innovation Fund

The Innovation Fund is one of Europe’s largest programmes focused on demonstrating innovative CO2-reducing / low carbon technologies. Its purpose is to support the European Commission’s  (EC) vision of a climate neutral Europe by 2050 by bringing the most successful and innovative technologies to the market. The Fund offers financial support in abating greenhouse gas (GHG) emissions, making the world cleaner and more sustainable.

Innovation Fund Core value: Emission avoidance within projects

The programme’s core value is to avoid gas emissions. The emissions avoidance calculations will likely be compared to reference scenarios either based on the benchmarks within the EU Emission Trading System (ETS) or from similar projects. It is therefore important your project delivers at least 75% of the emissions avoidance calculated in order to receive the full grant amount.

Source: European Commission

More information or interested in applying for the Innovation Fund?

Apply for funding for your low-carbon technology. Need help with drawing up a strong application? Our specialists would be pleased to support you. Please do not hesitate to contact us via info@hezelburcht.com or 088 495 20 00 for an introduction meeting