The European Union just approved 17 Innovation Fund (IF) applications for large-scale projects in the clean-tech sector. The PNO Group, of which EGEN is part, accounts for 7 of the 17 approved applications: over 40%! The total investment of the EU for this call amounts to 1.8 billion euros. If you think this is a lot of money, wait until you see the budget for the next IF round: the European Commission has raised the available funding for the next large-scale call to around 3 billion euros! Our experts are once again ready to prepare winning applications for you.
Projects to help the EU become climate neutral
The Innovation Fund was set up in 2020 and has a total budget of 38 billion euros, to be spent over a period of 10 years on energy transition and climate improvement projects. More specifically, the EU is looking for the following types of projects:
- innovative low-carbon technologies and processes in energy-intensive industries, including products substituting carbon-intensive ones
- carbon capture and utilisation (CCU)
- construction and operation of carbon capture and storage (CCS)
- innovative renewable energy generation
- energy storage.
The effect of this broad search is reflected in the great diversity of the projects selected in this latest round, among which are projects that will:
- foster the production, distribution and use of green hydrogen
- process waste, residues and innovative raw materials into high-quality renewable fuels and sustainable raw materials for the polymers and chemicals industry
- offer an industrial scale response to Europe’s major battery recycling and raw materials bottleneck
- build a large-scale synthetic sustainable aviation fuel production facility.
No Innovation Fund success without knowledge, experience and capacity
You have to know what you are getting into when you apply for the Innovation Fund. The projects are complex and the conditions that an application must fulfil are elaborate. On top of that, competition is fierce, and success is therefore only for the ‘Champions League’ in the EU funding arena. The application process – from the initial idea to submission – can take anywhere from six months to a year. Moreover, since these projects involve many stakeholders, it is necessary to maintain focus. In all this lies the secret of Innovation Fund success: the crux of a good application lies in understanding and being able to convey the underlying story, keeping all stakeholders in line throughout, and turning this into a successful application within the set deadlines. All this is impossible without knowledge, experience and capacity.
Third Innovation Fund call for large-scale projects – start today!
As mentioned, the third Innovation Fund call for large-scale projects (projects over 7.5 million euros) is coming up. The challenges have become only greater, so you will agree with us that strong and effective projects are needed more than ever. The EC doubles the funding to around 3 billion euros for this next large-scale call. However, despite there being more financial room, we expect an even stronger competition. So, there is every reason to start preparing for a new application as soon as possible, preferably today. Start by checking with our experienced specialists. Discuss your idea with them and together see if there are any connections with the Innovation Fund!