European Commission announces The Innovation Fund for low-carbon technologies
One of the world’s largest funding programmes for demonstration of innovative low-carbon technologies, the new fund aims at creating the right financial incentives for projects to invest in the next generation of low carbon technologies, boosting growth and competitiveness of EU companies and at supporting innovative low-carbon technologies in all Member States in taking off and reaching the market.
Building on the lessons learnt from preceding NER300 programme, The Innovation Fund will focus on highly innovative technologies and big flagship projects with European value added that can bring on significant emission reductions, cross-cutting projects on innovative low-carbon solutions, and also small-scale projects, by sharing the risk with project promoters to help with the demonstration of first-of-a-kind highly innovative projects.
The €10 billion fund will be financed by the EU Emissions Trading System (EU ETS) and will support up to 60% of the additional capital and operational costs that are linked to innovation. The Commission aims to launch the first call for proposals in 2020, followed by regular calls until 2030.
Please find more details on the Innovation Fund here.
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