Towards the end of 2021, RVO, TNO, and the Netherlands Environmental Assessment Agency published a report reflecting on the energy strategies of the Dutch government and the ambitions of the industrial sector. Whereas in 2019 the cabinet strived for a reduction of 19 megatons in co2 emissions by 2030 within Dutch industry, the industrial sector itself has set the bar much higher: With a target saving of 31 megatons, the industrial sector demonstrates they are prepared to innovate and also see new opportunities. Funding can be of help to realise these innovations.
The Innovation Fund is the largest fund in the world for the demonstration of innovative low-carbon technologies and so-called ‘flagship projects’ for significant emission reductions at the European level. Projects must relate to energy-intensive industries, Carbon Capture and Storage (CCS), renewable energy, or energy storage. Hence, the Innovation Fund is an excellent funding programme to boost co2-reducing innovations.
The Innovation Fund: Suitable for Both Small- and Large-scale Projects
The themes within the Innovation Fund are:
- Innovative ‘low-carbon’ technologies and processes
- Alternative products that can replace carbon-intensive products
- Carbon Capture and Utilisation (CCU)
- Carbon Capture and Storage (CCS)
- Innovative production of renewable energy
- Energy storage
The Innovation Fund has two funding instruments: small- and large-scale projects. Large-scale projects have a project size exceeding €7.5 million, whereas small-scale projects encompass a project size of € 2.5-7.5 million. Small-scale projects are ideally suited to take away some of the financial risk involved when bringing innovative developments to the market, also helping SMEs to do so.
For both small- and large-scale projects, funding comprises 60% of eligible project costs. Projects should be completed within 4 years.
For large-scale projects, applications can be submitted already. Even more so, with a deadline of 3 March 2022, quick action is imperative! For small-scale projects, we expect a new call for applications to be published in March of this year, with an expected deadline in August. Now is a good time to contact us so we can look together at the possibilities and opportunities of an application.
Why Choose the Innovation Fund? We Are Keen to Think with You
The Innovation Fund is a Europe-wide programme and can be applied for by a single entity as well as by a consortium. It also gives your innovation visibility across Europe.
Of course, there are also other (Dutch) funding instruments available for the development, pilot, or demonstration of a co2-saving industrial development, such as HER+ or DEI+ within the Top Sector Energy. Are you curious to know which funding instrument best fits your strategic goals, or would you like to talk to someone who can help you weigh your options? We are keen to explore the options with you, free of any obligations.
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