20 / 11 / 2021

EU invests over €1 billion in innovative projects to decarbonise the economy

The European Union has selected under the First Innovation Fund Call seven large scale projects into which it is investing over €1.1 billion. These grants are aimed at supporting the market introduction of breakthrough technologies in energy intensive industries, hydrogen, carbon capture, use and storage, and renewable energy. These seven large scale projects, including energy industries related projects located in Sweden, Finland, France and Belgium and renewable energy projects in Italy and Spain, are starting to draft individual grant agreements with the Innovation fund’s implementing body the European Climate, Infrastructure and Environment Executive Agency (CINEA). The finalisation of these individual grant agreements is expected to take place in the first quarter of 2022, giving the commission the possibility to adopt grant decisions and start their distribution. In addition, on 26 October the European Commission launched a Second Innovation Fund Call for large scale projects encouraging all projects that were not successful in the first call to reapply, with a deadline of 3 March 2022.   More information