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REPowerEU: Commission invests 3 billion euros in innovative clean tech projects

The European Commission has launched the third call for large-scale projects under the EU Innovation Fund. With a budget doubled to 3 billion euros, following increased revenue from the auctioning of EU Emissions Trading System (ETS) allowances, the 2022 call for large-scale projects will boost the deployment of industrial solutions to decarbonise Europe.

With a special focus on the priorities of the REPowerEU Plan, the call will provide additional support towards ending the EU’s dependence on Russian fossil fuels.

“Today more than ever, we need to boost innovation and scale up technological solutions that tackle the climate crisis and bring Europe energy sovereignty,” said the Executive Vice-President of the European Commission, Frans Timmermans. “The faster we do so, the quicker we will become immune to Russian energy blackmail. With this new call of 3 billion euros, the EU Innovation Fund will support even more clean tech projects than before, speeding up the replacement of fossil fuels in hard-to-decarbonise industries and accelerating the uptake of renewable hydrogen in the EU market.”

The call will fund projects covering the following topics:

  • General decarbonisation (budget: 1 billion euros) seeking innovative projects in renewable energy, energy-intensive industries, energy storage or carbon capture, use, and storage, as well as products substituting carbon-intensive ones (notably low-carbon transport fuels, including for maritime and aviation);
  • Innovative electrification in industry and hydrogen (budget: 1 billion euros) seeking innovative projects in electrification methods to replace fossil fuel use in industry as well as renewable hydrogen production or hydrogen uptake in the industry;
  • Cleantech manufacturing (budget: 0.7 billion euros) seeking innovative projects in the manufacturing of components as well as final equipment for electrolysers and fuel cells, renewable energy, energy storage and heat pumps;
  • Mid-sized pilots (budget: 0.3 billion euros) seeking highly innovative projects in disruptive or breakthrough technologies in deep decarbonisation in all eligible sectors of the Fund. Projects should prove the innovation in an operational environment but would not be expected to reach large-scale demonstration or commercial production.

The submitted projects will be assessed by independent evaluators according to their level of innovation, the potential to avoid greenhouse gas emissions, operational, financial and technical maturity, scaling up potential and cost efficiency.

The call is open for projects located in EU Member States, Iceland and Norway until 16 March 2023.

Promising projects that are not sufficiently mature for a grant may benefit from project development assistance from the European Investment Bank.

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