Innovation Fund

The Innovation Fund offers €4B in funding to fund different net-zero projects.

Projects of different scales are funded within five topics:

-General decarbonisation (large-scale): €1.7 billion available for projects with CAPEX above €100 million.

-General decarbonisation (medium-scale): €500 million available for projects with CAPEX between €20 million and €100 million.

-General decarbonisation (small-scale): €200 million available for projects with CAPEX between €2.5 million and €20 million.

-Cleantech manufacturing: €1.4 billion available for projects with CAPEX above €2.5 million focusing on the manufacturing of components for renewable energy, energy storage, heat pumps and hydrogen production.

-Pilot: €200 million available for projects with CAPEX above €2.5 million focusing on deep decarbonisation.

Projects are evaluated according to their potential to reduce greenhouse gas emissions, degree of innovation, maturity, replicability and cost efficiency. The Innovation Fund can cover up to 60% of the project’s relevant costs.

Awarded projects will enter into operation before 2030 and they are expected to reduce emissions by about 476 million tonnes of CO2 equivalent in the first 10 years of operation. This will help to meet European decarbonisation objectives, reduce emissions from those sectors that are particularly difficult to decarbonise, strengthen European industrial manufacturing capacity and reinforce Europe’s technology leadership and supply chain resilience.