The Innovation Fund, financed by EU Emissions Trading System revenues, is one of the world’s largest funding programmes for the demonstration of innovative low-carbon technologies. The Fund focuses on highly innovative clean technologies and big flagship projects with European added value that can bring significant emission and greenhouse gas reductions.
Innovation Fund projects cover a wide range of innovative technologies in areas such as energy- intensive industries, renewables, energy storage, net-zero mobility and buildings, hydrogen, and carbon capture, use and storage. They are located in the EU, Liechtenstein, Iceland, and Norway.
This grant scheme supports innovative and targeted actions that assist in the delivery of the European Green Deal and the EU’s climate goals. The fund is one of the world’s largest funding programmes for the demonstration of innovative low-carbon technologies and will contribute to greenhouse gas reduction. The fund is financed by revenues from the auctioning of allowances under the EU Emissions Trading System.
Small and Medium Enterprises (SMEs) and large companies that are based in or have significant activities in the EU and want to improve their performance and competitiveness through low-carbon innovation1.
To be eligible for the grant, the applicant must:
Be a business or public entity registered in the EU
Have a valid tax clearance certificate
Agree to provide feedback and data to the European Commission
Not have received any other public funding for the same project
Unlocking Innovation: EU’s Innovation Fund
Celtic Dynamics is excited to share an exceptional funding opportunity for businesses aiming to pioneer low-carbon technologies and contribute to Europe’s green transition – the EU’s Innovation Fund. Financed by EU Emissions Trading System revenues, this fund stands as one of the world’s largest initiatives, supporting the demonstration of innovative low-carbon technologies.
Key Features of the Innovation Fund:
- Focus on Innovation: Prioritising highly innovative clean technologies and substantial flagship projects with European added value.
- Global Impact: Extending support to projects in the EU, Liechtenstein, Iceland, and Norway.
- Versatility: Covering diverse technologies in energy-intensive industries, renewables, energy storage, net-zero mobility, buildings, hydrogen, and carbon capture, use, and storage.
- Grant Value: Varied based on company size, project type, and eligible costs.
- Grant Rate: Ranges from 25% to 60% of eligible costs, determined by innovation aid category and company size.
- Project Expenditure: Minimum €2.5 million to maximum €50 million for large-scale projects.
- Application Process:
- Document Submission: Alongside the online application, submit a copy of the tax clearance certificate, a quotation from an approved provider, and a completed project plan template.
- Evaluation: Projects assessed based on potential emissions reduction, innovation, maturity, replicability, and cost efficiency.
- Application Deadline: Until 9 April 2024, 17:00 (CET).
- 2023 Call for Proposals:
- Record Budget: €4 billion.
- Topics: General decarbonization (large, medium, small-scale), cleantech manufacturing, and pilot projects.
- Promoting Green Transition: Increased budget for cleantech manufacturing projects.
- Next Steps for Project Promoters:
- Attend the IF23 Call Info Day on 7 December 2023.
- Apply via the EU Funding and Tenders Portal by 9 April 2024.
- Stay informed about evaluation results in Q4 2024.
- Successful applicants sign grant agreements in Q1 2025.
With an estimated revenue of €40 billion from the EU Emissions Trading System, the Innovation Fund acts as a financial catalyst, encouraging investments in cutting-edge low-carbon technologies. Celtic Dynamics encourages businesses to explore this incredible opportunity, contributing to Europe’s journey towards climate neutrality.
For more information see: https://cinea.ec.europa.eu/programmes/innovation-fund_en
Grant applications are a key specialty of Celtic Dynamics. We actively research and apply for grants on behalf of your company, ensuring you can access available financial assistance to optimise the overall cost of your energy projects.
How to Proceed:
Ready to secure funding for your energy-saving projects? Book a call with Celtic Dynamics to discuss the details further and receive a customised quotation. Our Energy Grant Applications service is designed to enhance your chances of success in securing grants for your energy initiatives.