The incentive of the new European Green Deal is clear: to make Europe a climate-neutral continent by 2050. Many efforts and grant programmes are directed towards getting us there, investing in climate-neutral technology and innovation. The Innovation Fund for Climate Action is the largest fund for low-carbon innovation.
Clearly, working towards an emission-free Europe is not without its challenges. In fact, there are many energy-consuming industries that we still cannot do without, and sometimes even need in order to sustain other, environmentally friendly and sustainable innovations. For instance, the copper needed to make wind turbines is a case in point. Other examples include the production of metals; the gold and lithium needed to build our computers; and the cement industry.
First call for The Innovation Fundhas been published
The Innovation Fund for Climate Action is the world’s largest fund 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, working towards the demonstration of new technologies, stimulating economic growth and competition, and spreading innovation across all EU Member States. EU companies are stimulated to attain a first-mover advantage by boosting their growth and competitiveness.
A first call has been published for large-scale projects with innovations and solutions that are close to the market. Possible project topics are clean hydrogen and other low-carbon alternatives, as well as energy and carbon storage. With a total budget of €1 billion, the fund finances max. 60% of the total costs. Per project, this concerns a maximum of €7.5 million. The first deadline is October 29, 2020.
Large steps to meet the Green Deal’s Objective
In many ways, the Innovation Fund for Climate Action is there to take large steps: large projects that tackle large industries with large emissions. Large steps that are needed if we are to meet the Green Deal’s objective. Are you ready to take a leap forward? Contact us today to discuss the possibilities.
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