Accelerate Your Green Technology Project with EU Innovation Fund

The EU Innovation Fund is one of the world’s largest funding initiatives for the development and deployment of innovative low-carbon technologies. With a total budget of up to €40 billion from 2020 to 2030, this fund is playing a crucial role in the European Union’s efforts to combat climate change by supporting small-, middle to large-scale projects that can significantly reduce greenhouse gas emissions.?

Key Highlights of the EU Innovation Fund?

The Innovation Fund primarily derives its financing from the EU Emissions Trading System (EU ETS), which is the world’s largest carbon pricing system. This system works by auctioning off 530 million ETS allowances, generating the funds used to support breakthrough technologies that reduce emissions in key sectors like energy-intensive industries, renewable energy, energy storage, and carbon capture, use, and storage (CCUS).?

Aims of the Innovation Fund?

The core objectives of the Innovation Fund are multifaceted:?

1. Supporting decarbonization: The fund backs innovative projects that can significantly reduce emissions, making it a key enabler for EU industries striving to achieve climate neutrality.?
2. Economic growth and job creation: By fostering the development of new clean technologies, the fund is poised to boost economic growth and create future-proof jobs across Europe.?
3. Global leadership in clean technologies: The EU aims to position itself as a global leader in clean technology by funding projects with European added value that can set a global example.?

What is Funded by the Innovation Fund??

The fund supports a wide range of technologies and projects that can pave the way for a low-carbon economy. These include:?

• Energy-intensive industries: Projects focused on reducing emissions in sectors like steel, cement, and chemicals.?

• Carbon capture, use, and storage (CCUS): Innovative technologies designed to capture and store CO2 emissions.?

• Renewable energy generation: From solar to wind to geothermal, the fund supports pioneering renewable energy technologies.?

• Energy storage: Solutions to improve the storage of renewable energy for a more resilient energy system.?

• Net-zero mobility: Innovations in maritime, aviation, and road transport that will lead to greener transportation.?

• Buildings: New technologies aimed at decarbonizing the built environment, including energy-efficient building systems and retrofitting.?

Application and Funding Process?

The Innovation Fund offers regular grants through calls for proposals and competitive bidding (auctions). These grants can cover up to 60% of the project costs, and in some cases, competitive bidding can cover up to 100% of the relevant costs.?

The process is designed to support first-of-a-kind projects, meaning that the fund helps to shoulder the risks associated with developing and scaling innovative technologies that are still in their early stages. The goal is to ensure that these technologies are commercially viable and can be scaled to help meet the EU’s ambitious climate targets.?

Ready to take your clean technology project to the next level???

Get in touch with Tiko Pro d.o.o. , where our senior team will lead, develop your idea, and handle all the technicalities to ensure a successful application for the EU Innovation Fund. With our extensive experience, we’ll guide you every step of the way.??

?? Contact Tiko Pro today