Innovation Fund for Climate Action

Climate Action

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. The ultimate goal of the Innovation fund is to achieve the EU objectives of the Paris Climate Convention and to provide financial incentives towards a climate-neutral Europe in 2050.

The focus of the Innovation Fund is the demonstration of new technologies, stimulating economic growth and competition, and spreading innovation across all EU Member States. In addition, it stimulates projects that cross multiple sectors.

Small- and Large-scale Projects

The Innovation Fund has two categories, namely small- & large-scale projects.

 Total BudgetBudget per ProjectDeadline
Small-scale€100 million€2.5 - €7.5 million31 August 2022
Large-scale€1.5 billion€7.5 million>3 March 2022

Possible project topics include clean hydrogen and other low-carbon alternatives, as well as energy and carbon storage.

Applicant

  • Private and public entities, and international organisations, located in the EU, Iceland, and Norway.
  • EU bodies cannot participate.

Consortium

  • At least 1 entity; consortia are also allowed.
  • International consortia are not obligatory.

Conditions

Projects must fall within the following sectors:

  • 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

Review Criteria

  • Potential for avoiding greenhouse gas emissions
  • Innovative potential
  • Financial and technical maturity
  • Scaling-up potential
  • Cost efficiency

Grant

  • Funding comprises a maximum of 60% of additional capital requirement and operating costs.
  • Projects should be fully completed within 4 years.

Deadline

Large-scale projects can be submitted until 3 March. The deadline for applying for small-scale projects is 31 August 2022.

 

The purpose of this summary is to provide a quick insight into the purpose, design and conditions of the grant programme (as known on: 25-1-2022). No conclusions can be drawn on this basis and no rights can be derived from it.

 

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