Innovation Fund
European funding programme for the demonstration of innovative low carbon technologies
Realise a reduction in CO2 emissions
Innovation Fund
The Innovation Fund is one of the world’s largest funding programmes for the demonstration of innovative low-carbon technologies. The EU Emissions Trading System (EU ETS) is providing the revenues for the Fund by auctioning emission allowances. The Innovation Fund finances breakthrough technologies for renewable energy, energy-intensive industries, energy storage, and the capture, use and storage of carbon. This fund gives impetus to the green recovery by creating local future-proof jobs, paving the way for climate neutrality and strengthening European technological leadership worldwide.
In short
Innovation Fund overview
For whom?
Enterprises
Consortia
When to apply?
The third submission round for "small-scale" projects runs from 30 March to 19 September 2023 (17:00 CET).
A new call round is expected to run from 23 November 2023 to 9 April 2024 (estimated). This round will cover both small-, medium- and large-scale projects.
Furthermore, the IF will start a series of Hydrogen Auctions for the European Hydrogen Bank (EHB). The first auction opens on 23 November 2024 and closes on 8 February 2024 (estimated).
How much?
The total budget for 2020-2030 is estimated at 38 billion euros. A grant will cover up to 60% of the project costs.
For what?
Eligible for funding are projects that involve very innovative technologies as well as big flagship projects:
demonstration projects: projects that focus on bringing new, promising, innovative technologies to the market
advanced R&D projects: projects that are close to the commercialisation phase (pilots).
Overview of
Innovation Fund themes
- Innovative low-carbon technologies and processes in energy-intensive industries, including products substituting carbon-intensive ones
- Innovative renewable energy generation
- Energy storage
- Carbon capture and storage (CCS)
- Carbon capture and utilisation (CCU)
Large-scale and Small-scale projects
Types of projects
The Innovation Fund currently has two types of projects: ‘small-scale projects’ (projects with total investment costs between 2.5 and 7.5 million euros) and the ‘large-scale projects’ (with investment expenditures of more than 7.5 million euros).
Starting with the fourth round of applications (expected in November 2023), the Fund plans to work with three categories: ‘small-size projects’ (up to €20 million), ‘medium-size projects’ (between €20 million and €100 million), and finally the ‘large-scale projects’ category (with investment expenditures of more than €100 million).
The Innovation Fund supports a variety of project types:
- demonstration projects: projects that focus on bringing new, promising, innovative technologies to the market
- advanced R&D projects: projects that are close to the commercialisation phase (pilots).
The fund does not support:
- projects that are still in the research phase or projects that involve advanced technologies that already entered the market: these are not eligible for the Innovation Fund
- projects that are too advanced: projects that are already rolling out an innovation on a large scale. There are sometimes still opportunities for scale-ups.
Meet the requirements
Innovation Fund conditions
To apply for the Innovation Fund, your project must meet the following criteria:
Your project is highly effective in reducing greenhouse gas emissions.
Your project is highly innovative.
Your project has reached a certain level of maturity.
Your innovation/project offers opportunities for wider application.
Your project is cost effective.
Grant application process
Apply for the Innovation Fund
Would you like to submit an Innovation Fund application? The call for ‘small-scale’ projects runs from 30 March 2023 to 19 September 2023 (15:00 CET). The round for ‘large-scale’ projects closed on 15 March 2023 (a new round is in progress).
Applying for the Innovation Fund involves quite some effort and specific expertise. Having a real shot in this competitive programme requires you to develop a high-quality proposal that includes at least the following items:
- GHG emissions avoidance calculation
- Relevant cost calculation
- (Technical) Feasibility Study
- Project Implementation Plan
- Knowledge Sharing Plan
why this grant?
Purpose of the Innovation Fund
This fund focuses on innovations that contribute to making Europe climate neutral. The Innovation Fund aims to drive innovative, breakthrough low-carbon technologies.
“As an Innovation Consultant and Business Developer, I am constantly working on identifying opportunities, setting up initiatives, and shaping projects. My goal is to accelerate sustainable innovations and investments of clients.”
Contact Roy Neijland →
How can EGEN support you?
EGEN’s consultants can support you in performing the required calculations, structuring, and writing convincing documents, and managing the application process. Furthermore, they can assist you in strategically scoping and positioning your project in accordance with relevant market trends and EU policy objectives.
EGEN is part of PNO Group and has experts in the domains of environment, energy and mobility who have the mission to accelerate sustainable innovation. Did you know that PNO Group accounts for 7 of the 17 large-scale Innovation Fund applications that were recently approved by the EU?
Keep up to date
News
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