The European Commission has launched the Innovation Fund's 2023 call for proposals with a remarkable budget of €4 billion to bolster innovative net-zero technologies. Financed by revenues from the EU Emissions Trading System (EU ETS), this initiative underscores the significance of carbon pricing for advancing the green transition.

Funds available for projects under five distinct categories based on capital expenditure (CAPEX) requirements:

  • General decarbonisation large-scale projects (above €100 million CAPEX)
  • General decarbonisation middle-scale projects (€20 million to €100 million CAPEX)
  • General decarbonisation small-scale projects (€2.5 million to €20 million CAPEX)
  • Cleantech manufacturing
  • Pilot projects for deep decarbonisation

Projects will be evaluated based on their potential to reduce greenhouse gas emissions, innovation, maturity, replicability, and cost efficiency. The Innovation Fund can cover up to 60% of a project's relevant costs.

Project promoters can apply until 9 April 2024, 17:00 (CET) via the EU Funding and Tenders Portal.On December 7th, 2023, the online IF23 Call Info Day will provide in-depth insights into new features, offer detailed information about the application process, and enable direct engagement with representatives from the European Climate, Infrastructure, and Environment Executive Agency (CINEA).

Source of information: https://ec.europa.eu/commission/presscorner/detail/en/IP_23_5948 (Published 23 November 2023)