Innovation Fund

For whom?

Innovative (collaborating) organisations

For what?

CO2-reducing innovations and hydrogen production

When to apply?

Innovation Fund 2023 open until 9 April 2024

Innovation Fund support

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. The European Commission opened a new call for proposals on 23 November 2023, applications for the Innovation Fund 2023 call can be submitted until 9 April 2024.

Innovation Fund 2023 call now open for applications

On 23 November 2023, the European Commission opened the Innovation Fund 2023 call. As much as € 4 billion is available for projects that increase the deployment of innovative decarbonisation technologies. Project proposals can be submitted until 9 April 2024. The budget of the 2023 Innovation Fund call has been increased by proceeds from the EU Emissions Trading System (EU ETS).

Which projects are eligible?

You can apply for funding via tfive different topics, each with its own budget and capital expenditure (CAPEX):

  • General low carbon projects (large scale) – €1.7 billion available for projects with a CAPEX of more than €100 million
  • General low-carbon projects (medium-scale) – €500 million available for projects with a CAPEX between €20 million and €100 million
  • General low carbon projects (small scale) – €200 million available for projects with a CAPEX between €2.5 million and €20 million
  • Cleantech manufacturing – €1.4 billion available for projects with a CAPEX of more than €2.5 million aimed at developing components for renewable energy, energy storage, heat pumps and hydrogen production
  • Pilot – €200 million available for projects with a CAPEX of more than €2.5 million focusing on ‘deep decarbonisation’

Projects are assessed based on their potential to reduce greenhouse gas emissions, their degree of innovativeness, maturity, replicability and cost-effectiveness. The Innovation Fund covers up to 60% of a project’s relevant costs.

The first EU auction for renewable hydrogen is open (#IF23Auction)

In addition to the regular Innovation Fund call, the European Commission also opened the EU Innovation Fund auction on 23 November 2023, the IF23Auction. Producers of (renewable) hydrogen can submit a fixed premium per kilogram of hydrogen produced. This premium (max €4.5 per kilogram) closes the gap between the production price and the price consumers are willing to pay. Bidders have until 8 February 2024 to apply. With this auction, the European Hydrogen Bank is scaling up hydrogen production in Europe.

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. Currently, the Innovation Fund has already awarded more than €6.5 billion to more than 100 projects that make the world a little more sustainable.

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.

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

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Contact

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