This third call for proposals from the European Innovation Fund will enable large-scale projects to deploy industrial solutions to achieve the EU’s decarbonization objective. The priorities of the REPowerEU plan will be put in place to reduce European dependence on Russian fossil fuels.
The call for projects will fund several types of projects:
- General decarbonization projects: this is an innovative research project in the field of renewable energy, energy-intensive industries, energy storage or capture, carbon use and storage, as well as alternatives to carbon-intensive products (budget of 1 billion euro)
- Innovative technology projects in the electrification of industry and the use of hydrogen (budget of 1 billion euro)
- Clean technology development project (700 million euro budget)
- Medium-sized pilot projects (300 million euro budget)
The evaluation of the projects will be carried out by independent evaluators on the basis of the level of innovation, the potential for GAS prevention, operational, financial and technical maturity, expansion potential and cost-effectiveness.
The call is scheduled to close on March 16, 2023.
Source: Commission invests 3 billion euro in innovative clean tech projects to deliver on REPowerEU and accelerate Europe’s energy independance from Russian fossil fuels