Innovation Fund
For whom?
Innovative (collaborating) organisations
For what?
CO2-reducing innovations and hydrogen production
When to apply?
Each year calls for small lor large scale projects
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.
What 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.
EU renewable hydrogen auction (IF24 Auction)
Since 2023, the European Commission has also opened an auction for producing renewable energy. This auction falls under the Innovation Fund and bidders can submit a fixed premium per kilogram of hydrogen produced. This bridges the gap between the price of production and the price consumers are willing to pay. This is the EC’s way of scaling up hydrogen production in Europe. The first auction (IF23 Auction) was completed last year, the second auction (IF24 Auction) opens for bids on 3 December 2024.
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
