EU starts EUR-4bn call for decarbonisation technologies

The European Commission (EC) on Thursday opened a EUR-4-billion (USD 4.4bn) call under the Innovation Fund for projects in decarbonisation, clean tech manufacturing, maritime and energy-intensive industries.

The record budget of the Innovation Fund's 2023 call includes EUR 1.4 billion available for clean-tech manufacturing with a focus on the production of components for renewable energy, energy storage, heat pumps and hydrogen generation.

Grants are offered under a total of five categories, with EUR 1.7 billion of funding available for large-scale decarbonisation projects with capex above EUR 100 million, EUR 500 million for medium-scale decarbonisation initiatives and EUR 200 million for small-scale decarbonisation. A pilot component of the call will provide EUR 200 million to projects focusing on deep decarbonisation.

Applications are due by April 9, 2024, with the results expected in the fourth quarter of 2024.

The Innovation Fund invests revenues from the EU Emissions Trading System. The EU today also opened the first auction under the European Hydrogen Bank.

(EUR 1 = USD 1.091)

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