Apply for EU Innovation Fund
Receive our assistance in securing funding from one of the world's largest grant schemes dedicated to implementing net-zero and innovative technologies. In the 2024 call, we successfully helped our clients secure a combined grant of € 298 million. These projects will contribute to avoid 52.3 million tons of greenhouse gas emissions.
The Innovation Fund programme, managed by the European Climate, Infrastructure, and Environment Executive Agency (CINEA), plays an important role in advancing the EU's commitment to sustainable and green initiatives.
Innovation Fund has a record budget of €4 billion
The Innovation Fund is one of the world’s largest funding programmes for the deployment of net-zero and innovative technologies - a record budget of €4 billion in 2024. IF supports grants for projects aiming at commercial deployment of innovative low-carbon technologies, with the objective of bringing to market industrial solutions to decarbonise Europe and support its transition to climate neutrality.
The Innovation Fund is funded by the EU Emissions Trading System (EU ETS) – the world’s largest carbon pricing system – and it is used as the main driver for the programme.
Sectors Targeted For Decarbonisation
The EU Innovation Fund subsidises European decarbonisation projects for industrial sectors included in the Annex I of the EU ETS regulation: Iron or steel, cement clinker, lime or magnesite, glass including glass fibre, ceramic products, mineral wool insulation, gypsum or production of plaster boards, paper or cardboard, carbon black, bulk organic chemicals, and hydrogen and synthesis gas.
In april 2024, the 4th call of the EU Innovation Fund closed with a record budget of €4 billion to subsidies European decarbonisation projects that e.g. fall under: Aviation, heavy industry (green/renewable substitute products), maritime and cleantech manufacturing (renewables and energy storage).
Types of Projects
There are five different types of projects, depending on the topic (Manufacturing or General Decarbonisation) and size (Pilot, Small-scale, Medium-scale or Large-scale), with a minimum of 2.5 million euros in CAPEX.
1. Energy Intensive Industries (EII)
2. Carbon capture, transport and storage
3. Renewable energy and storage
4. Mobility (Maritime and aviation)
5. Buildings
Projects must demonstrate high technical maturity, usually after completing FEL 2 (Feasibility Study) and close to FEL 3 (Front-end Engineering Design). Beneficiaries must demonstrate that the Business Plan is solid and credible, having advanced conversations with suppliers, offtakers and financial institutions.
Lastly, GHG emission avoidance must be substantial and properly estimated using the IF methodology, including a high-cost efficiency (i.e., kilograms of GHG emissions avoided per euro of grant).
Each Innovation Fund project must run through three stages:
1. Up to Financial Close: completing all the engineering, financial, commercial and permitting requirements to sanction the project.
2. Construction: the actual development of the project
3. Operation: a minimum of 5 years for medium- and large-scale projects, and a minimum of 3 years for small-scale and pilot projects.
Deadline
Developing proposals for the EU Innovation Fund is highly time-consuming. Therefore, reach out now to secure our expert assistance for the upcoming deadline!
The major spring 2025 deadline was met in April.
More Details on EU Innovation Fund
Financial assistance
Projects can request up to 60% of the Relevant Costs (discounted CAPEX + OPEX – Revenue) for the whole project duration. There is not a minimum grant that can be requested for large- and medium-scale projects, with smaller projects having a ceiling of 40 million euros.
Eligibility criteria
At least one company based on any country in the world, aiming to deploy a project in EU member states or EEA countries (Norway, Iceland or Liechtenstein). Beneficiaries must demonstrate their financial and operational capacity before signing the Grant Agreement with CINEA.
Projects of All Sizes
There are five different types of projects, depending on the topic and the total CAPEX:
1. Manufacturing: more than € 2.5M
2. Pilots: more than € 2.5M
3. Small-scale: up to € 20M
4. Medium-scale: from € 20 to 100M
5. Large-scale: more than € 100M
Selection Criteria:
1. Degree of innovation
2. GHG emission avoidance and other climate impact reduction potential (only Innovation Fund)
3. Project maturity
4. Scalability
5. Cost efficiency (only Innovation Fund)