The third call for projects of the Innovation Fund, the financing instrument for a climate-neutral Europe, has recently shown how hard companies in the EU are currently working on green innovations. For the third time, the European Climate, Infrastructure and Environment Executive Agency (CINEA) issued a call for proposals for large-scale projects on the 3rd of November 2022. Last Thursday, the 16th of March 2023, was the end of the application period and the interest in the total amount of EUR 3 billion available was higher than ever before. The Innovation Fund received applications from 239 innovation projects from 25 countries. Last year, 138 project applications were submitted.
Four blocks were the thematic focus of the third call. All of them contribute to the overarching goals of the EU to become independent from Russian fossil fuels and to accelerate the European energy transition:
- Innovative electrification in industry and hydrogen (Budget: € 1 billion)
- Clean tech manufacturing (supporting manufacturing of components and final equipment such as electrolysers and fuel cells, innovative renewable equipment, energy storage, or heat pumps); (Budget: € 700 million)
- “Mid-sized pilots” projects for validating, testing and optimising highly innovative solutions (Budget: € 300 million)
- General decarbonisation, which is available to all projects eligible for the Innovation Fund except those which fall under dedicated RePowerEU topics (Budget: € 1 billion)
The project proposals are currently being evaluated and feedback is expected by the end of June 2023 at the latest. Stay tuned!
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