EC announces competition for projects on technology to reduce emission; budget: 4 billion euros

The European Commission has announced a call for projects to support the implementation of innovative emission-lowering technologies with a budget of 4 billion euros, the Commission said.

1.4 billion euros have been allocated to strengthening the production capacity of industry, leading technological position and resilience of the supply chain in Europe.

Project promoters may apply for grants under five topics with separate budgetary requirements and separate investment expenditure requirements:

- overall reduction in (large-scale) - EUR 1.7 billion available for projects where capital expenditure exceeds EUR 100 million

- overall reduction in emission (on an average scale) - EUR 500 million available for projects for which capital expenditures are between EUR 20 million and 100 million euros

- overall reduction in emission (small) - EUR 200 million available for projects where investment outlays are between EUR 2.5 million and EUR 20 million

- production of clean technologies - EUR 1.4 billion available for projects where capital expenditures exceed EUR 2.5 million, focusing on the production of components for renewable energy, energy storage, heat pumps and hydrogen production

- pilot project - EUR 200 million available for projects for investment expenditures exceeding EUR 2.5 million, focusing on a significant reduction in the emission

Projects will be assessed on the basis of their potential to reduce greenhouse gas emissions, the degree of innovation, maturity, duplication and cost savings. The innovation fund can cover up to 60% of the project costs.

Projects located in the EEA are eligible for proposals and, following a recent review of the EU ETS Directive, calls for proposals under the Innovation Fund are now also open, alongside technologies in energy-intensive (including aviation), renewable energy or energy storage, for the maritime sector, road transport and buildings.

Project promoters have until 9 April 2024 until a time. 17.00 (Central European Time) for the submission of applications through the EU Funding and Tenders portal.

Source: ISBnews