ENERGY: New €10 billion EU Innovation Fund established for the period 2021 – 2030
The Commission announced an investment programme worth over €10 billion for low-carbon technologies in several sectors to boost their global competitiveness. The first call for applications will be launched in 2020.
The Innovation Fund is one of the funding instruments supporting the European Commission’s strategic vision for a climate neutral Europe by 2050 as outlined in its communication “A Clean Planet for All” of 28 November 2018. The Fund will support the demonstration of low-carbon technologies and processes in energy intensive industries (including products substituting carbon intensive ones), environmentally safe carbon capture and utilisation and storage of carbon dioxide (CCU and CCS), innovative renewable energy and energy storage technologies.”
- potential to avoid greenhouse gas emissions,
- degree of innovation,
- maturity in terms of planning, business model, financial and legal structure,
- potential for widespread application and
- cost efficiency in terms of emissions avoidance.